Financial services are under pressure to perform on multiple fronts. Traditional strengths like stability and reliability are expected. What sets institutions apart is experience and how fast, personal, and seamless every customer interaction feels.
While major banks invest billions in transformation, regional banks, credit unions, and specialty financial firms are often challenged by aging infrastructure that can’t deliver the same level of modern engagement. That’s a risk. Fortunately, modernizing customer experience in financial services doesn’t have to mean starting over.
Techaisle White Paper
57% of financial institutions say improving customer experience is a top priority in their digital transformation strategies.
Aligning CX Outcomes to Financial Services Leadership Priorities
Modernizing CX is a shared challenge that spans IT, customer experience, and finance leadership. These decision-makers represent financial institutions that serve longstanding members, community-focused clients, and regulated environments. They need tools that elevate service and provide a cost-effective CX transformation while preserving trust, control, and continuity.
IT Leadership (CIO or Head of IT)
- Balancing system continuity with modernization goals
- Prioritizing security, compliance, and low-risk deployment
CX Leadership (Head of Member Experience or VP of CX)
- Improving financial services NPS and engagement across channels
- Capturing insights from interactions and reducing friction
Finance Leadership (CFO or VP of Finance)
- Assessing the ROI of CX investment outcomes in financial institutions
- Delivering measurable gains in efficiency and retention
Why it matters: These decision makers are united by a need to modernize without starting over. Their goal? Transform how service is delivered without compromising compliance, cost control, or community connection.
Where CX Breaks Down, and How Mitel CX Helps
CX challenges across financial institutions rarely live in isolation. They affect systems, teams, and the bottom line. Here's how the right approach, tailored to the needs of IT, CX, and Finance leaders, can turn pain points into progress.
Infrastructure Complexity & Compliance Pressures (IT Leader)
Challenge: Legacy systems are hard to secure, scale, or modify without risking what already works.
Solution: Mitel CX integrates into existing Mitel infrastructure. Hybrid cloud communications deployment options reduce compliance and cost risk. Voice biometrics and AI insights support PCI DSS and region-specific standards, including GDPR, SOX, or FINRA.
Disjointed Journeys & Visibility Gaps (CX Leader)
Challenge: Customers bounce between channels with no continuity. Agents are overwhelmed, and supervisors lack the insight to coach effectively.
Solution: Mitel CX unifies voice and digital channels, adds real-time transcription, and uses AI in contact centers to summarize interactions. Supervisors gain insight into sentiment, effort, and performance.
Case Study: Healthspan
Healthspan achieved a 90% AI deflection rate, freeing up agents for higher-value tasks and more personal service.
Uncertain ROI & Transformation Risk (Finance Leader)
Challenge: CX investments can appear costly and difficult to justify. Full-cloud migrations feel high-risk.
Solution: Mitel CX enables phased, measurable improvements, such as reduced average handle time and better client retention, without the need to rip and replace.
HFS Research 2024: Modernizing Core Banking
“A phased, modular approach with continuous optimization and KPIs is favored to derisk IT modernization rather than immediate rip and replace, which carries higher risk and cost.”
What Financial Institutions Can Expect to Achieve
| Metric | Value | Source |
|---|---|---|
| ↓ Time-to-loan decision | 50% faster | Internal Mitel Use Case Data |
| ↑ Customer Satisfaction | 10–20% improvement reported in member experience programs | Financial Brand, 2024 Insights |
| ↓ Average Handling Time | ~20% reduction based on Mitel customer implementations | Mitel Internal Benchmarks |
| ↑ Customer Retention | 3–5% uplift in credit union loyalty after workflow improvements | Credit Union Journal / Mitel Data |
Final Thought: Experience Is the New Currency with Mitel CX
Customers may choose a financial services provider based on rates, but they stay (or leave) based on the service. Mitel CX helps leaders modernize their customer experience in financial services organizations without giving up control, compliance, or continuity.
