With customers becoming the driving force behind the banking industry, banks are looking towards enhancing their customer experiences and reducing service costs. Banks are now investing in UCaaS to get a bird's-eye view of customer communications across all channels. Though functionality may vary on the degree of implementation, it broadly incorporates Interactive Voice Response (IVR), voice chat, e-mails and client management capabilities. This market is expected to grow at a CAGR of 16.29% for the period 2014-2019.
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