Beneficial Bank ‘Cashes In’ with Ethernet and Voice Connectivity from Comcast Business Services
Yearly Savings of More Than 50 Percent Helps Philadelphia-Area Financial Institution Better Serve Local Businesses and Consumers
Philadelphia, PA – September 25, 2012 – Comcast Corporation, one of the nation's leading providers of information and communications products and services, today announced that it is providing Business Voice and Ethernet services to all Beneficial Bank locations across the Philadelphia metropolitan area. With a total of 66 offices and close to $5 billion in assets, the financial institution will now take advantage of reliable and scalable data and voice connectivity while also benefiting from a more than 50 percent reduction in yearly service charges.
With nearly 1,000 employees, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. Like many financial institutions, Beneficial Bank relied extensively on one telecom provider for its telephone needs and another for its T1 data connection, until it decided to reexamine its existing telecom services to determine whether a more economical solution was available.
Beginning with a three-branch pilot program that simulated a variety of different working environments based on location, customer demographics, and daily back-office traffic, Beneficial Bank quickly observed that its voice and Internet service from Comcast upheld even the strictest of performance requirements, regardless of branch office needs. More importantly, the bank also saw a dramatic decrease in monthly service costs from what it had been paying for separate voice and data plans.
“As financial educators, it’s our job to make our customers’ businesses and personal financial circumstances better, so it’s only natural that we would want to do the same for ourselves,” said Joe Reithmeier, director of information technology for Beneficial Bank. “We knew that consolidating our existing telecom services would help us with customer touch and economic efficiency and we were tremendously pleased when we found out just how much of a difference going with Comcast really made.”
When Beneficial Bank looked at its yearly service charges, it found that switching to Comcast for both its Internet and voice services helped the financial institution save more than 50 percent a year. In addition to the convenience of only needing one monthly bill, Beneficial Bank now has the flexibility to easily add more Internet bandwidth and additional phone lines whenever needed with a simple call to Comcast’s 24/7 customer service number.
“Businesses of all sizes are increasingly seeing the value in combining their existing voice and data services into one package, both to simplify their monthly bill, as well as to help them reduce costs,” said Michael Maloney, vice president of Comcast Business Services, Freedom Region. “The breadth of our network and the scalability of our Ethernet services makes us an ideal partner for financial institutions like Beneficial Bank, as we can easily accommodate branches from around the region while still providing each of them with a reliable way to connect back to their headquarters.”
About Beneficial Bank:
Founded in 1853, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. It is a community-based, full-service financial services company that has served individuals and businesses in the Delaware Valley for 159 years. With over 60 offices in the greater Philadelphia and South Jersey regions and approximately $5 billion in assets, Beneficial offers a full array of financial products that includes commercial, consumer and real estate lending, insurance and wealth management. Visit www.thebeneficial.com for more information.
About Comcast Business Services:
Comcast Business Services, a unit of Comcast Cable, provides advanced communication solutions to help organizations of all sizes meet their business objectives. Through a modern, advanced network that is backed by 24/7 technical support, Comcast delivers Business Internet, TV and Voice services for cost-effective, simplified communications management.
Launched in 2011, the Comcast Business Ethernet suite offers high-performance point-to-point and multi-point Metro Ethernet services with the capacity to deliver cloud computing, software-as-a-service, business continuity/disaster recovery and other bandwidth-intensive applications. Comcast Metro Ethernet services are significantly faster than standard T1 lines and other legacy technologies, providing scalable bandwidth from 1 Mbps up to 10 Gigabits-per-second (Gbps) in more than 20 major US markets.
For more information, call 866-429-3085.
About Comcast Cable:
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.comcast.com) is one of the nation's leading providers of entertainment, information and communications products and services. Comcast is principally involved in the operation of cable systems through Comcast Cable and in the development, production and distribution of entertainment, news, sports and other content for global audiences through NBCUniversal. Comcast Cable is one of the nation's largest video, high-speed Internet and phone providers to residential and business customers. Comcast is the majority owner and manager of NBCUniversal, which owns and operates entertainment and news cable networks, the NBC and Telemundo broadcast networks, local television station groups, television production operations, a major motion picture company and theme parks.
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