Nucleus Research, a global provider of ROI-focused technology research and advisory services, today announced the findings of a study of AimBank, a provider of personal and business banking services to the communities of West Texas, which found that their deployment of RingCentral’s cloud communications platform to replace its legacy on-premise systems has resulted in enhanced communications, customer engagement and employee productivity across its business. RingCentral’s unified cloud communications solution, including team messaging, video meetings and cloud phone system, delivered over 170 percent return on investment (ROI) for AimBank, with payback in less than five months.
Nucleus found that the transition from its legacy on-premise communications systems to the cloud and modernizing its communications infrastructure with RingCentral, enabled the bank to extend customer services to 24 hours a day, which they were unable to provide previously. Additionally, AimBank improved customer satisfaction, saved user time and increased productivity, all while gaining the ability to communicate from anywhere, on any device, across any mode from a single business communications solution.
AimBank has 27 locations across Texas and New Mexico with nearly $2 billion in assets under management. It offers commercial and consumer banking products like loans and deposit options. It also offers credit and debit cards, 24-hour telephone banking (enabled by the RingCentral platform), and mobile banking.
Key benefits highlighted in the case study include:
- Increased user productivity. Users realized between 70 and 90 percent productivity improvements through messaging capabilities, the ability to quickly start video meetings, and having continuous access to phone communication.
- Increased customer satisfaction. In the past when the PBX systems would fail, customers would not be able to use the telephone banking service for those affected locations. Now without regular outages, AimBank can truly uphold its commitment to 24-hour telephone banking without interruptions, resulting in improved phone system uptime.
- Time saved. Previously when the legacy systems failed, IT staff would be dispatched to resolve the issues and bring the system back online as quickly as possible. Now using RingCentral, AimBank is no longer incurring the labor costs for system maintenance and repair that was previously spent fixing PBX outages.
- Eliminated hardware and carrier costs. AimBank was able to retire PBX systems at each branch, resulting in significant cost savings. Additionally, it was able to retire the servers and supporting infrastructure and eliminate fees from multiple carriers, as the billing and service was all unified on the RingCentral platform.
“AimBank’s deployment of RingCentral highlights the necessity of a unified communications and technology strategy for optimizing costs and service levels,” says Daniel Elman, analyst at Nucleus and author of the report. “Given the current climate, it is now more crucial than ever for businesses to deploy a unified communications solution in the cloud to support their mobile and distributed workforces and maintain business continuity. By unifying its communications system with RingCentral, Aim bank has gained a leg up on its competitors with an already-solid mobile communications service capacity.”
See the full report at: https://nucleusresearch.com/research/single/ringcentral-roi-case-study-aim-bank/
About Nucleus Research
Nucleus Research is a global provider of investigative, case-based technology research and advisory services. The company’s ROI-focused research approach provides unique insight into the actual results technology solutions deliver, allowing organizations to cut through marketing hype to understand real operational value and select or renew the best technology solution for their environment. For more information, visit NucleusResearch.com.