The financial services industry has to follow a lot of rules. The compliance burden is growing, disclosure and reporting are increasingly strict, and the risk of cyberattacks is on the rise. Providing your employees with secure access to the right information and resources is one of the best ways to stay ahead of the game. So how can you empower your teams in a highly regulated, highly competitive financial sector?

The answer is close to home: leadership should look at the employee experience, ensuring their teams feel seen and heard – whether they’re in the office, in the field, or working at home. 

Making your workforce feel acknowledged is more than a nice-to-do. Research shows that employee recognition plays an integral part in creating an environment where people readily support a shared vision. Higher levels of recognition are linked with lower levels of burnout, better attitudes about work, and stronger relationships with coworkers.

“The business benefits of high wellbeing are greatly enhanced by optimum recognition and greatly damaged by poor recognition – making it important to prioritize both.” – Workhuman, From “Thank You” to Thriving: A Deeper Look at How Recognition Amplifies Wellbeing. 

LumApps is a powerful, versatile, and cost-effective enterprise intranet that elevates and personalizes the digital-first employee experience. Simply put, a modern intranet like LumApps is a critical resource that provides the right digital tools for fostering more effective connections in fast-moving workplaces. 

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Financial sector heavyweights TMX Group and a major international payments company both chose LumApps to override their legacy intranet and improve the overall employee experience. Let’s find out the top reasons why. 

1. Connecting a dispersed workforce

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One Fortune 500 commercial payments firm needed an overhaul of its intranet to break down silos among its diverse, dispersed, 24k-strong workforce. 

Most employees were only accessing department or unit landing pages – bypassing company-wide messaging as well as useful tools and resources. LumApps established a unifying look and feel, increasing content visibility and delivering comms to the right users in the right place. 

The company was able to promote its unique culture and create a sense of community across teams, regardless of geographical, departmental, tech know-how, or language barriers. They’ve given their LumApps-powered intranet a nickname, and it’s become a popular meeting place.  

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“Our LumApp-powered intranet offers a common ground for everyone, regardless of title, position, job function, or department, to come together and interact on a human level."  - Director of Digital Employee Experience (DEX) at a global financial corporation

Now, the LumApps implementation sits at the heart of this company – and the single access point for essential resources and messaging is where management can connect with staff. Research shows that poor communication at work leads to decreased productivity (40%), extended timelines (37%), and increased costs (32%). Creating a hub where staff and leadership can align is a powerful move. 

“With greater interconnectedness, location and modality have become secondary to the needs of the work and the workers, prompting companies to think about the work that needs to be done in terms of “how” and not “where.’” - Deloitte 2023 Human Capital trends in financial services

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2. Knowledge management and safe access

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Compelling research by Deloitte shows that the financial services sector is navigating a “boundary-less” world of work, with staff in all types of locations across the world. First-class digital access is necessary for employees to deliver their best, but nearly half of digital workers can’t easily find the information or data they need. 

LumApps helps with digital document management. This includes everything from organizing critical information in centralized repositories to eliminating content graveyards – with push notifications that alert employees when it’s time for some content gardening.

Crucially, the dispersed workforce at the world-leading payments company operates under strict regulations and oversight. Step in LumApps: an AI-powered, next-gen resource for enterprise-scale data security and governance. Financial service companies can create baked-in best-practice procedures to protect sensitive data. 

“Cyber incidents maintain their position as the top risk for financial services companies, with over half of respondents – the highest ever total – naming them as the greatest concern for their business.” – Allianz, Key challenges facing the financial services industry

LumApps’ easy API integration offers robust security by:

• Giving individual employees access to secure information in one place and by using existing logins and passwords.

• Controlling admin/user access to different sections of the intranet—files, pages, and areas of functionality—to reduce the chance of someone getting access that they shouldn’t. 
• Harnessing multi-device support so that critical information is accessible without being contingent on time or place. 

3. Employee Engagement and UX

TMX Group provides listing, trading, clearing, and information and technology services to the international financial community. Its holdings include the Toronto Stock Exchange (TSX), the TSX Venture Exchange (TSXV), and the Montreal Exchange (ME). 

The company was frustrated by its intranet’s poor navigation, outdated search functionality, and limited accessibility – all of which was undermining productivity and engagement. LumApps provided a seamless user experience, including native integration with G Suite.

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With LumApps, every employee interaction from onboarding to daily tasks is personalized. The nexus for this is a customizable digital dashboard that instantly connects each employee to business-critical updates, corporate news, and relevant workforce conversations. This unique interface is an indispensable personal companion for every member of your team.

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LumApps also has multi-site intranet capabilities designed to create mini-communities for a workforce with multiple specialized skillsets.

It only took TMX Group six months to implement LumApps’ custom solution, and they haven’t looked back. Some of their favorite functionalities are:

• An easy-to-use platform accessible from many devices
• A central repository for all corporate comms
• A multilingual system that can easily accommodate French and English requirements

LumApps Learning is also on hand when it’s time for personalizing employee training, upskilling, and onboarding paths and addressing the financial sector’s skills gap. Enterprises must support their teams and keep pace when investing in effective onboarding and continuous training resources. 

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“Traditional workplace models assume that organizations are the sole decision-makers, while workers are expected to fall in line. Now, the workforce is looking for more personalized career paths, full of meaningful work within flexible workplace models.” – Deloitte

Attention leadership, comms, HR, and IT teams!

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LumApps provides robust tools and communication solutions, as well as cross-platform and device functionality. We help enterprises shape digital employee experiences and generate meaningful employee journeys by keeping your workforce productive, up-to-date, and informed. 

To see how LumApps can help you generate a more dynamic and connected company culture, book a meeting with one of our experts.