Financial Services Thought Leadership Zoomtopia

Forecasting What’s Ahead for Digital Transformation Within Financial Services

Here’s a look at some insights and exciting announcements from this year's Zoomtopia financial services sessions.
5 min read

Updated on September 22, 2022

Published on September 24, 2021

Zoomtopia financial services

The financial services industry was once characterized by analog processes. The desktop phone was critical technology, paper contracts were a main form of communication, investment bankers used to fly from New York to London for one-hour meetings, and video was only a nice to have. But not anymore.

When the pandemic catapulted the industry into sweeping digital transformation, many embraced this new, paperless world as an opportunity to reimagine both client services and internal operations. At this year’s Zoomtopia, we explored what that transformation looks like, examining the sector’s evolution, current-day challenges, and Zoom innovations that can help finance professionals improve the way they do business.

Here’s a look at some new insights and exciting announcements, which you can access in our on-demand Zoomtopia library

Industry Keynote: The Future of Financial Services Communication

financial services keynote

Watch the Zoomtopia financial services keynote here.

Zoom’s Deputy Chief Information Officer (CIO) Gary Sorrentino and Global CIO Harry Moseley kicked off this year’s financial services sessions with a keynote that examined where the industry has been and where it’s headed.

While everything about financial services — and every other industry — changed overnight due to the COVID-19 pandemic, “there’s a silver lining,” stated Sorrentino. “It’s given us the opportunity to learn from the past, both success and failures.” The way we work has changed, and it’s only just the beginning.

“The future of work is hybrid. Work is something we do, not a physical place,” added Moseley. And as finance organizations embrace this new reality, they can explore how the technology behind it can create better experiences for clients and employees alike. This technology should be applied in three key ways:

Employee experience: With hybrid work comes a new opportunity to promote equality and reduced hierarchy. Video conferencing technology helps create a more equitable, inclusive meeting experience that encourages employees to speak up more.

Client engagement: Video is the new voice, especially with client engagement. With digital transformation comes new tools to help with client servicing — enabling highly responsive communication, video-enhanced mobile banking, and more.

Digital transformation: The pandemic acted as a catalyst for a trajectory we were already on — a path destined for digital disruption. We’re now faster and more deliberate as a result, paving the way for endless new applications for technology.

Zoom in Financial Services: Enabling Compliant Communications

Watch the session here.

Regulatory and compliance requirements pose a pervasive and complicated challenge to modern financial organizations hoping to implement cutting-edge technology. To help these businesses adopt the right cloud technology while remaining compliant, Dan Wordsworth, Head of Technical Services at DNA AV; and Kevin Lockhart, Managing Director at Couno, provided insights and best practices on deploying the Zoom platform to meet compliance requirements.

Wordsworth and Lockhart walked through essential deployment controls for financial services, explaining how to best tailor Zoom features to meet unique industry needs, such as using Zoom’s archiving feature, or disabling certain features in a trading environment.

What's New? Understanding Zoom's Latest Financial Services Product Features and Roadmap

Watch the session here.

Adi Regev, Lead Product Manager of Financial Services at Zoom, led Zoom's financial services product roadmap session, discussing both existing and upcoming features for our financial services customers:

Existing features:

  • Archiving
  • Information barriers
  • Chat Etiquette Tool
  • DLP functionality through APIs
  • Zoom Phone Archiving solution, which is policy-based and similar to meetings 
  • APIs that allow for Archiving for Zoom Team Chat
Financial services product features

Features potentially coming this year:

  • “Follow-the-user” archiving for external meetings (voice)
  • Archiving for Breakout Rooms 
  • Archiving for meeting reactions  
  • Zoom Phone SMS archiving API 
  • Ability to set chat policies for users when they’re joining external meetings, i.e., enable chat for internal meeting, disable it for external 

Features potentially coming next year:

  • “Follow-the-user” archiving for external meetings (chat)
  • In-meeting chat API that will enable DLP integrations
  • Whiteboarding archiving 
  • Phone and SMS info-barriers

Transforming the Financial Services Client Experience

Watch the session here.

Harry Moseley was joined by Greg Driscoll, CIO at Penn Mutual; Sathish Muthukrishnan, CIO at Ally; Mona Breed, CIO at Moody's; and Neal Sample, CIO at Northwestern Mutual, for an insightful roundtable discussion on how enterprise financial institutions are using Zoom to create agile working environments. From office re-openings to personalizing the sales process, our customers revealed unique applications of Zoom technology, sharing how these innovations helped elevate both employee and client experience to new heights.

APAC Customer Panel: What Financial Services Must Adapt to Build Trust in a Hybrid World

Watch the session here.

Gary Sorrentino was joined by Steve Day, Chief Technology Officer at National Australian Bank; Suhail Ghai, Executive Vice President and CTO at MaxLife Insurance Company; and Robert O'Grady, Head of Infrastructure and Regional IT at CLSA, to discuss what it takes to operationalize hybrid work. The key theme of the session was trust — what it means to build trust with your team, clients, and services, expanding upon why trust is essential for thriving in this new world of work.

Future-proofing your finance organization

Thanks again for joining us at Zoomtopia 2021 — we’re excited to see finance organizations already using our platform to help future-proof operations, evolve the way they serve clients, and protect information. We’re looking forward to creating new innovations and features designed to continue this progress, enabling better work for financial services everywhere.

Visit our blog to stay up to date year-round on industry announcements and security updates. And see how our financial services customers like Capital One, National Australia Bank, and Brotherhood Mutual Insurance are using Zoom for their critical communications.

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