Financial services organizations need to rethink their customer service and execute differently to respond effectively in the current market environment. Nontraditional competitive pressures have combined with ever-escalating customer expectations to drive an imperative for innovation.

Banks are starting to understand that they must change their organizational structures and customer-facing applications to respond to these pressures. Improving customer service with easy-to-use, enterprise-grade video can be a differentiator, and maintain customers and market share in the face of intense competition.

WorkSpace Today spoke with Ray McGroarty, Director for Enterprise Unified Communications at Polycom for more specifics around this issue. McGroarty talks about the trends forcing financial firms to rethink customer service, and the role video plays. He also talks about the benefits to the end customer, and developments he sees emerging over the next 18 months.

Please see the embedded interview below. If you’re mobile and don’t see the video, click here for the direct link.