Case Study » Cloud Telephony Benefits & Use Cases for Businesses in Finance Sector

Cloud Telephony Benefits & Use Cases for Businesses in Finance Sector

cloud telephony
  • Cloud telephony platforms come with modern call management and call center features such as IVR, VoIP calling, mobile app, call recording, voicemail, sticky agent, and AI call routing which are helpful for businesses present in the financial sector to automate various scenarios involved in the customer service, outbound sales, and business communications.
  • These use cases mentioned below will help business owners and CX leaders in the fintech industry to know why migrating to cloud telephony platforms will be a game changer for future business growth, business sustainability, and achieving call center goals.

What is cloud telephony?

  • Cloud telephony is a business phone system that runs on the cloud and uses an internet connection to function and terminate calls hence it is also called a VoIP phone system. Unlike on-premise PBX, cloud telephony or cloud PBX don't require expensive physical hardware to set up as entire calls and communications are managed using the web, desktop, or web apps provided by service providers.

Cloud Telephony use cases: Inbound communications (Customer support)

Use case 1: Telebanking

  • Automated IVR and conversational AI help customers do telebanking for common banking-related queries like blocking a card, requesting a chequebook, opening a savings account, and updating contact details, all done by just calling your toll-free number.

Use case 2: Sending feedback SMS

  • Support agents speaking with customers can send post-call SMS to customers' numbers to collect feedback instantly.

Use case 3: Safeguarding account holder data

  • The number masking feature in cloud call center software (cloud telephony) allows businesses to mask customers’ mobile numbers and contact details for agents and keeps sensitive information safe and secured.

Use case 4: Make international calls

  • The major advantage of choosing a cloud telephony platform for banking and NBFCs is hassle-free global calling to any country. If your financial organization has a customer base abroad, it's easy for your customer care representatives to serve them and manage international voice calls seamlessly using softphone and VoIP calling features.

Use case 5: Serve customers in their local language

  • Call centers at fintech organizations can use multilingual IVR-enabled cloud telephony to set voice scripts in different languages, so when customers call the support number, automated AI voice bots play scripts in their preferred language.

Use case 6: Manage calls within your CRM

  • The option to integrate cloud telephony into your business CRM allows users to initiate and receive calls within the CRM, saving more time on switching between apps and tabs. Also, it helps financial brands offer personalized customer service by automatically matching incoming numbers with CRM databases.

Use case 7: Regulatory compliance

  • Call recording feature in cloud telephony platform stores all customer communications data and is available to retrieve anytime to monitor customer conversations. This helps businesses to stay compliant with regulatory policies and customers’ lawsuits.

Use case 8: Serve customers during non-working hours

  • During non-working hours, IVR/virtual agents answer incoming calls on behalf of human agents and also allow customers to send their queries as a voicemail, so agents can arrange a callback easily by accessing voicemail and missed call reports.

Use case 9: Route calls to the right department

  • With AI call routing features available in cloud telephony system, fintech businesses can automatically redirect incoming calls to agents in the selected departments like routing calls to the sales department for pricing and product-related queries, accounts department for billing-related queries, and so on.

Use case 10: Redirect call to the same agent

  • When sticky agent feature is activated, it automatically redirects the customer to the agent whom he or she called before which results in faster query resolution and more happy customers.
Cloud Telephony Use Cases: Outbound Communications (Sales, collection, & promotion)

Use case 1: Auto dialer

  • Auto dialer integrated cloud telephony platform eliminates manual calling by dialing all leads in the contact list automatically. As a result, lending, insurance, and banking companies can sell more policies, credit cards, and loans every month.

Use case 2: Debt collections

  • Automated outbound IVR makes the debt-collecting process more easier for banking and NBFCs by reaching unclosed cases automatically and interacting with them in a natural language without human intervention.

Use case 3: Credit card, policy, & loan promotions

  • Elevate your telemarketing campaigns by automatically promoting your financial products and services to the bulk audience.

Use case 4: Auto-sending reminders

  • Send the bill, EMI, and payment due reminders to the account holders through automated outbound IVR enabled with AI voice bots.

Use case 5: Voice broadcast

  • Convey important announcements and offers or take surveys and feedback by sending automated voice broadcast messages to thousands of contacts.

Benefits of adopting cloud telephony platform for financial organizations

More cost-savings

  • Fintech organizations can set up and manage call center virtually without installing on-premise PBX and other expensive infrastructure. This saves significant financial costs for brands in the fintech sectors.

Remote working

  • As everything takes place over the cloud, customer care and sales representatives working in your organization can handle customer interactions by working from anywhere by logging into the web or desktop app provided by your cloud telephony company.

Call recording & tracking

  • Call center agents can record all incoming and outgoing calls using an inbuilt call recording feature. And customer support leaders can track and review these recorded calls to analyze agents’ and customers’ conversations.

VoIP and global calling

  • Cloud telephony service providers like TeleCMI have webRTC and VoIP-enabled phone system that allows employees to make and receive domestic and international calls using an internet connection and softphone. Thus, saving more money on call charges by avoiding traditional call termination methods.

Mobile call center

  • Cloud communication platform like TeleCMI provides agents and admins with a mobile app where they can handle and track all inbound and outbound calls at their fingertips. The mobile app comes with all call center features and promotes hybrid working.

Lesser manpower & workload

  • IVR integrated cloud telephony platform eliminates the huge workload for customer service reps by automatically answering incoming calls. IVR voice bots make human-like conversations with callers and route unsolved queries to live agents. This minimizes call center workload and the need for hiring and training more number of staffs.
Handling sudden surge of calls
  • A sudden spike in incoming calls due to recent marketing campaigns and uncertain times like covid could be easily managed using an intelligent IVR system and hassle-free scaling options.

Local and global presence

  • With virtual phone numbers, you can easily buy new business numbers for any country such as mobile numbers for USA, UK, Singapore, and Australia. As a result, your business can have a local presence, increase call pick-up rates, and serve customers based in different countries.

Limitless Calling

  • If your business handles higher call volumes everyday, you can opt for high-volume calling plans as companies like TeleCMI provide unlimited calling packages at affordable rates.

Easy scaling

  • Businesses can onboard new agents and add new numbers easily within the cloud telephony dashboard, hence saving tons of time for call center managers to focus on important operations.

Real-time data visibility

  • Track the number of incoming, outgoing, missed, and answered calls including agent activities and performance KPIs effortlessly within the user dashboard.


  • Cloud telephony is a game changer for banking, NBFCs, and other fintech companies in many ways such as saving communication costs, hybrid working, tracking call data and agent performance, uninterrupted connectivity, improving call center performance, automating sales and customer service, reducing churn rates, and providing a delightful customer experience.

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