Wednesday, November 30 2022

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What’s New: Enhanced Compliance and Risk Assurance Capabilities, Improved Customer Experience Capabilities, and Expanded into New Markets

As we continue to expand our Microsoft Cloud for Financial Services offer, we’re excited to share our latest updates, including new general availability and preview features, as well as extended availability in select new markets. Our goal is to equip every financial organization with the digital capability needed to succeed in today’s challenging economic and regulatory environments. We remain committed to helping our financial services customers improve time to value, reduce costs, increase agility, accelerate innovation for sustainable growth, and create stronger connections with customers.

According to IDC1, 44.6% of financial services respondents consider building revenue-generating businesses the most critical technology initiative for their organization, while 41.1% are focused on delivering digital services faster and faster. accelerating the transition to the cloud. In this context, delivering technology that accelerates ROI and improves customer outcomes is critical, and that’s exactly where Microsoft Cloud for Financial Services and its latest updates can deliver compelling business value. .

Compliance Program for Microsoft Cloud: Supporting Customers with their Compliance Needs

Moving to the cloud creates incredible opportunities for our customers across all industries, but for the financial services industry, meeting regulatory requirements is fundamental.

At Microsoft, we understand the importance of meeting or exceeding these requirements. We broke new ground in this area and lead the technology industry with our unique compliance program that helps customers navigate the complexities of meeting regulatory requirements around the world. We now offer the full value of Compliance Program for Microsoft Cloud as part of Microsoft Cloud for Financial Services. This will provide our customers with premium support for their risk management, audit and compliance teams. It includes four key features:

  • Ask an expert: Interact directly with Microsoft subject matter experts to resolve priority compliance issues and accelerate regulatory review and approval cycles.
  • Mapping of risks and controls: Get support from Microsoft with cloud risk assessments to help you meet your due diligence needs.
  • Compliance Community: Learn about the latest developments in regulatory compliance directly from Microsoft experts, industry peers, and thought leaders through virtual sessions, summits, and ongoing webcasts.
  • Proactive risk insurance: Receive proactive communication from Microsoft experts on the results of external audits, ongoing updates to Microsoft’s cloud estate, and changing regulatory compliance requirements.

Now Available for Everyone: Smart Dating

Today, customers expect more convenience and simplicity in their dealings with their financial institutions. The key to meeting these expectations and delivering an exceptional customer experience lies in continuously improving financial service offerings that better connect people, processes and systems. In our latest release of Microsoft Cloud for Financial Services, and based on customer feedback, we focused on continuous improvements to bank customer engagement capability to deliver differentiated customer experiences.

One of the main challenges for many clients is finding the right person with the right expertise at the right time, easily and conveniently. Smart dates, now available to everyone, is a new banking customer engagement feature that offers customers a self-scheduled meeting experience, across customer-preferred channels. It easily and quickly associates customer financial product requests with banking experts. Clients can find contacts with the skills and availability needed for virtual or in-person appointments.

Sneak Peek: Increased Investment in Verticals

For all organizations, regardless of their industry, the key to success in the digital age lies in data: how to store it, secure it, combine it and exploit it. By migrating to the cloud and leveraging common data models, financial institutions are uniquely better able to mine their data, apply intelligence, extract insights, derive new business models, and to deliver better and more differentiated customer experiences through modernized applications that drive new growth.

To that end, we’re pleased to highlight a set of new features we’re releasing as a preview (in the US and UK only) that help our financial services customers leverage data and demonstrate our commitment to make Microsoft Cloud for Financial Services more relevant and useful across the industry. They understand:

  • Integration application (retail banking and other vertical markets): Delivers a flexible and intelligent product onboarding experience with automated document workflows enriched with AI analytics to ease the document verification process.
  • Unified client profile (wealth management): Helps deepen client relationships through meaningful guidance, providing relationship managers with a solid understanding of a client’s financial situation, investment portfolios, financial goals, important life moments and goals. other personal attributes.
  • P&C insurance data model (insurance): A dedicated P&C insurance data model captures new attributes, including policy and coverage information, claims, and insurance providers and producers.
  • Wealth management data model: An extension of the banking data model that captures new attributes, including financial goals and investment instruments specific to wealth management.
  • Small business data model extension (retail banking SME): Extends the Microsoft Cloud Data Model Foundation for Financial Services to represent individuals and helps link small businesses to individual financial assets.

Update on our partner ecosystem

Our partner ecosystem has been a key part of the success and scalability of Microsoft Cloud for Financial Services. Our partners are dedicated to serving customers better by helping to deliver more integrated solutions that reduce risk across the ecosystem, identify new opportunities for innovation, and reduce time to market.

For this release, we are also pleased to announce new solutions and offerings from leading system integrators (SI) such as Accenture/Avanade and watercraft and independent software vendors (ISVs) like Argano Arbela, CSA, Bamboo, BioCatch, Mambu, thinking machineand Dynamic richness to expand our capabilities. We’ve partnered with these organizations to release solutions that deliver a differentiated customer experience, empower employees, and manage business risk with solutions based on our offering.

New markets and languages

This month, in our continued efforts to support customers around the world, we are extending the international availability Microsoft Cloud for Financial Services to include Brazil, Singapore and the Hong Kong Special Administrative Region. Available languages ​​now include Brazilian Portuguese and Traditional Chinese. We plan to continue to expand our cloud presence in many more markets and languages ​​in the months ahead.

Learn more

To learn more and stay informed:


1IDC Global CEO Survey 2022: Industry Insights, Doc # US49613122, August 2022.

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