Microsoft has announced its industry for the financial services sector will be generally available Nov. 1. The bundled offering is designed to help financial services organizations hardness the power of the cloud, accelerate their digital products and reduce the costs of running their business.
According to the company, the Microsoft Cloud for Financial Services introduces new capabilities that leverage the Microsoft Cloud to help companies innovate for responsible and sustainable growth.
“Microsoft Cloud for Financial Services integrates cloud services across the depth of our offerings—Microsoft Azure, Microsoft 365, Microsoft Dynamics 365, and Microsoft Power Platform—underpinned by an industry data model, with new capabilities and customization unique to the financial services industry,” writes Bill Borden, Microsoft’s corporate vice president of worldwide financial services, in a blog. “It was also designed for even the most complex control frameworks and regulatory requirements facing the industry, with our multi-layered security, comprehensive compliance, and trust commitments built-in.”
The company earlier this year announced the public preview of the financial services cloud along with similar offerings for healthcare, nonprofits and manufacturing.
Borden writes that the company’s industry cloud is built on privacy, security and regulatory compliance across Microsoft and its partner ecosystem, including an industry data model that enables interoperability and innovation.
The release includes new capabilities designed to help retail banks enhance customer and employee experiences and drive customer growth.
The offering includes tools to help financial institutions create a unified customer profile, onboard new customers, personalize customer interactions and facilitate collaboration between front and back offices.
According to Borden, Microsoft Cloud for Financial Services also includes account and purchase protection tools to help combat fraud and identity scams, as well as other security tools.
Borden listed several services partners for this new offering, including Accenture, Avanade, Avtex, Capgemini, EY, Publicis Sapient, KPMG, PwC, and ISV partners Backbase, BaseCap, Finastra, Mortgage365, VeriPark and Zafin.
“We believe Microsoft Cloud for Financial Services has the foundation needed to help financial institutions accelerate innovation for responsible growth, and it offers the right set of capabilities for retail banking to meet their most pressing needs for enhancing customer and employee experiences, combatting financial crime, and managing security and compliance,” Borden wrote.
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