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TMCNet:  Comcast Business Fuels Digital Transformation for the Financial Services Industry

[October 15, 2019]

Comcast Business Fuels Digital Transformation for the Financial Services Industry

Comcast Business today announced that leading organizations across the financial services industry are harnessing gig-speed connectivity and software-defined networking from Comcast (News - Alert) Business to accelerate their digital transformation journeys to reimagine how they serve their customers.

"Financial services organizations of all sizes are increasingly embracing technology - from mobile apps to cloud-based business processes - to simplify their customers' banking experience," said Jody Hagemann, Senior Director, SD-WAN Product Management, Comcast Business. "As the industry becomes increasingly digital, financial institutions must ensure their underlying network infrastructure can handle a massive amount of financial transactions, while securely transferring data between headquarters and branches."

From physical to digital: Comcast Business propels innovation for financial enterprises

Two of the 10 largest banks in the United States are harnessing solutions and services, such as SD-WAN, high-speed broadband Internet, WiFi (News - Alert), unified communications and managed services - to create a more digitally-forward customer experience.

One of the nation's top five banks is harnessing broadband and ethernet services from Comcast Business at nearly 3,000 of its branches across the country to offer new features to delight customers - from tablets to private video conferences. Additionally, one of the banks with the largest footprint in the U.S. worked with Comcast Business to pioneer the industry's adoption of SD-WAN to better manage its busness applications and improve communication across branches.




Midsize financial institutions harness connectivity to turn transactions into interactions

Comcast Business is also working with small and mid-size financial services organizations across the country to simplify and modernize day-to-day operations. For example, Philadelphia Federal Credit Union (PFCU) - a Philadelphia-based institution with 11 locations and more than 118,000 members - recently replaced its legacy MPLS network and architecture with 100 Mbps ethernet-dedicated internet and SD-WAN from Comcast Business. As a result, PFCU has reduced the incidents of manual intervention required by its employees for day-to-day network support allowing them to focus on and improve the customer experience for members.

Additionally, Redwood Credit Union (RCU) - a full-service financial institution in California - uses Comcast's Ethernet and Internet for reliable network access for employees and members. With gigabit-level capacity, RCU is now able to expedite system updates and more efficiently transfer documents while maintaining the highest level of security.

"As the digital landscape in our industry evolves, so does competition. The added bandwidth, better pricing and greater network flexibility we get from Comcast Business have become critical success factors for our organization," said Patrick Williams, chief information officer, PFCU. "We are processing transactions and check images faster, opening new accounts more swiftly and seeing increased use of our mobile app."

About Comcast Business

Comcast Business offers Ethernet, Internet, WiFi, Voice, TV and Managed Enterprise Solutions to help organizations of all sizes transform their business. Powered by an advanced network, and backed by 24/7 customer support, Comcast Business is one of the largest contributors to the growth of Comcast Cable. Comcast Business is the nation's largest cable provider to small and mid-size businesses and has emerged as a force in the Enterprise market; recognized over the last two years by leading industry associations as one of the fastest growing providers of Ethernet services.

For more information, call 866-429-3085. Follow on Twitter (News - Alert) @ComcastBusiness and on other social media networks at http://business.comcast.com/social.


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