Cisco looks into future of banks

In an attempt to maximize its presence across consumer verticals with the
phase of economic recovery setting in, Cisco recently held a demo of their
innovative 'Bank of the Future' solutions in Kolkata.

Targeting the recuperating BFSI sector, the company is aggressively trying to
promote their products and solutions across sectors through their channel sales
strategy. Cisco's 'Innovative Branch' solution helps optimizing branch offices
of all sizes, allowing companies to customize branch networks to meet their
unique business needs across different regions.

Speaking over the new product, Amit Malik, VP, Cisco said, “Today, many banks
are offering similar financial solutions to its customers. We have come up with
a holistic approach to change customer experience in the banks.”

The Innovative Branch solution intends to help banks increase customer
confidence, increase the customer wallet share, increase cross-sell and up-sell
success ratio, and increase employee's efficiency and productivity. It also
focuses on creating the next-generation customer experience to its customers.

Cisco has planned a holistic branch solution elucidating on all spheres of
banking. The total solution comprises of 'convenience banking', where non-cash
self service terminal, using the Cisco IP phone are placed facilitating
customers to swipe their cards on the IP phone and instantly use the non-cash
transaction service. Next, the company has a 'premium banking' portfolio, where
customer identification and personalized greeting are provided. Also, the
company is offering 'personalized multimedia marketing' solution, where when a
customer carrying an RFID card moves near a HDTV, that also has an RFID reader,
the AON picks up the customers profile and requests DMP to play a personalized
marketing video.

The company has previously held a demo of the same stature in Mumbai and has
claimed that it has received a huge applaud for the same converting the demo to
sales calls tapping major bank branches across the city.

With the new solution in place, the bank branches can now stream revenue post
core banking besides protecting their core business. Also, it can increase its
revenue taking the customer relationship to the next level by providing business
and technology advisory services.

Reinstating Cisco's commitment to focus on the channels, Malik added, “We
believe in conducting our business through our channel partners and like all our
products. This product too will be routed through the channels.”