To keep pace with the fast growing competitive market, all Banks & Financial Institutes are going for voice; video and data enabled converged communication backbone. By using technology to transform business processes, these organizations are improving productivity, reducing costs, and enhancing the customer experience with innovative new services. Retail banks, credit unions, securities firms, and investment services groups are enabling new levels of organizational efficiency and business agility by taking advantage so many paths such as:

• Central Server Consolidation

• Mission Critical Storage and Mirroring

• IP based communication infrastructures

• Core Banking through IP based Voice

• Specially designed and calculated load for power protection

Challenges faced by Retail Banking:

Recent statistical evidence from market researchers confirms that the bank branch remains a viable and important delivery channel for retail banking customers and is the primary location for new product sales. In a more simpler way, though most retail banks have invested and promoted their Internet banking channel heavily, even those customers who have adopted the Internet banking systems still express a need and desire for the traditional human interaction in bank branch. Most importantly, customers now expect to have all the same information and features available through the Internet banking channel also available at the bank branch. Each retail bank must update its branches in order to smoothly integrate them into the bank’s complete delivery channel system without diminishing customer care.

Convergence:

Media Rich Convergence for voice, video and data enables retail banks to integrate and deliver diverse customer information into the branch environment through a single, cost-effective, and manageable network instead of three different connection infrastructure.

On today’s date, this media-rich application platform plays a major role behind the success story of all “CORE-BANKING” and “ANYWHERE BANKING”.