Banks need to address connectivity issues to increase productivity
The UK’s output per worker is at 16.6 per cent below the average of the other G7 nations in 2016, recent statistics from the Office of National Statistics (ONS) have revealed. The financial sector was one of the few to show some form of productivity growth, although it was still much lower than prior to the beginning of the economic crisis.
Superfast broadband has been labelled a business enabler with experts even suggesting that it can deliver 2.5 per cent uplift in productivity over five years. Speed is a crucial factor for financial services and fibre-optic superfast broadband can deliver real efficiency benefits.
However, research undertaken by CommScope has found that despite the availability of Wi-Fi broadband connectivity and fixed line or VoIP desktop phones, over 40% of office workers were still unable to make calls and access 4G data services from their desks. This connectivity issue proved to be a hindrance for work efficiency.
Paul Bell, vice president of enterprise sales in Europe for CommScope, said: “Our own research uncovered a significant link between the provision of mobile connectivity and productivity within the workplace, with a quarter of office workers reporting that poor mobile connectivity affected their productivity at least once a week.
“What’s more, it also found that, as smart mobile devices become ever more pervasive, around one in three workers used their own personal device to access apps, including online banking services, over 4G connections, with a quarter of them doing so at least once a week. It is unsurprising that prospective employees are more attracted to organisations that are not only forward thinking but are investing in workplace improvements.”
With the rise of the digital age, bank branch visits are continuing to decline and mobile banking applications are on the rise. It’s now more important than ever for banks to ensure in-building wireless coverage to deliver the best-in-class customer experience.
