Online collaboration tools can help bank administrators, financial experts, and any professional teams who work with team members and clients on complex transactions and projects.
All financial institutions and entrepreneurs can benefit from online business collaboration technology that:
- Engages its customers in a secure online environment
- Perfectly records conference data
- Easily captures signatures and verifies and processes its clients’ identification, without any need for the customer to appear in person at a street address or local branch
Increasingly, customers prefer transactions and accounts that can be conveniently managed through online collaboration.
Online Collaboration Tools Bring Key Changes to the Financial Sector
Online collaboration tools for finance are changing how businesses approach to doing business with clients and collaborators. It’s making their processes faster and leaner and giving tech-savvy businesses several advantages.
Consider synchronous editing: this is makes online collaboration superior to in-person collaboration, as it creates jointly edited documents with multiple participants enjoying access to the a document or webpage at the same time.
Today’s online collaboration apps, software, and cloud-based solutions provide efficient work options—from audio-video conferencing with chat functions, to entire project management. Online collaboration gives businesses:
- Flexible options to bring people together when physical meetings are impracticable
- Immediate turnaround in paperwork, including the signing of multiple documents by various parties
- Impressive reduction in time for the client journey, improving communication
- Ability to process documents over various devices and operating systems (Windows or Apple; desktops, laptops, tablets, or smartphones) as well as file-sharing
- An excellent method of eliminating errors in paperwork processing
- Efficient alternatives to full audits
Online collaboration apps designed for the financial industry now enable administrators to navigate accounts and transactions with clients who are not necessarily tech savvy; and that’s when a platform can really make a company stand out as leading-edge.
Today’s clients appreciate experiences that tell them they are doing business with a company that’s investing in best-in-class technology and streamlining the time and costs of transactions.
Liveoak Is at the Forefront, Offering Ease and Convenience for Financial Professionals and Their Customers
Use Liveoak’s collaboration tools to engage clientele, provide real-time customer service, and speed up onboarding.
Liveoak provides seamless ways to onboard clients, properly complete paperwork filings, and carry out projects in the banking, credit union, and insurance spheres.
Liveoak is engineered with meticulous security and compliance features.
We also offer an exceptional support team to accompany our products. To learn more about how Liveoak’s platform facilitates collaboration and complex transactions, watch this short demo.
Online Collaboration FAQs
What is online collaboration?
Online collaboration is a term in the tech world that refers to the act of multiple people in different locations utilizing technology to communicate, share, and change documents, processes, and workflows over the web. The components of online collaboration involve 2 or more users and a virtual, online space. Online collaboration often refers to things like virtual meetings, but can also be used to refer to the remote updating and sharing of documents through the web.
What are examples of online collaboration tools?
There are a wide range of online collaboration tools available. Here are a few with brief definitions:
- Virtual meeting platforms – Google Meet, Zoom, Skype, Microsoft Teams and more allow users to conduct video and audio phone calls from remote location over the web
- Cloud document storage and editing – Google Drive & App Suite, Dropbox, Microsoft One Drive, and other all allow collaboration on documents, sometimes in real time
- Virtual project management – Trello, Basecamp, Asana, Jira, Notion, and other apps allow teams of people to stay on task and on deadline for projects. Some enterprise level project management apps, like Jira, power some of the most innovative companies in the world
- Online communication tools – Slack, Google Hangouts, ProofHub, Microsoft Teams, Skype for Business, and more allow file sharing, chat functionality, phone, and video calls. Notably, these platforms help large teams create channels for dedicated projects so there is always a record of communication for a particular subject
What is the best online collaboration tool for business?
If you’re looking for a single platform that allows a wide range of collaboration between businesses and their customers, Liveoak is a great business tool. We help companies who have compliance considerations virtually interact with their customers, maintain security, and ensure their customers’ identity.