How is Microsoft Helping Banks in Mastering Global Financial Services Delivery?

How is Microsoft Helping Banks in Mastering Global Financial Services Delivery?

May 17, 2022 | Digital Marketing, Microsoft 365

Want to make the financial operations of banks more secure and automated with the latest digital tools? The technological revolution has completely transformed the traditional ways of financial processes and payment transactions in banks with highly secure, fast, and automated services.  

The introduction of the Microsoft 365 suite and its different applications laid the foundation for seamless, secure, fast, and independent financial services and made banking operations powerful. In addition, the bank will offer flexible functions based on the changing demands of customers, including mobile banking and financial transactions on the go.  

For example, banks and other financial institutions will get suitable guidance on modern Microsoft technologies from consulting banking partners worldwide. Besides, numerous advanced tools like Microsoft Teams, Defender function, OneDrive, Power Apps, and artificial intelligence will be practical Microsoft 365 solutions for banks and act as the enterprise risk management solution

What are Different Ways Microsoft Helps Banks with the Latest Technologies? 


Microsoft AI-Enabled Chatbot Technology  

There were dedicated employees and teams that executed various financial services in conventional banking systems. For instance, financial tasks like payment transactions, cheque deposits, and the discussion of multiple financial products like home loans, personal loans, and insurance based on customer requirements make bank operations streamlined.  

The traditional banking and finance operations system added the expense in the form of employees’ salaries for banking-related microservices and contained errors or issues in multiple operations. To overcome these issues, Microsoft offers AI-based chatbot technology and electronic virtual assistant, which handles around 80 percent of the customer’s financial queries at the cost of only 10 percent of banking employees.  

Moreover, banks can integrate cloud-based chatbot services with artificial intelligence capabilities and utilize Microsoft Bot Framework to make the new-age banking system more secure, flexible, and robust. The AI-based chatbot provides customers with safe and secure financial services based on future insights.   

Banking and financial operations need effective communication and collaboration tools to avoid misunderstandings related to financial services and products to the customers. For this purpose, Microsoft Teams will act as the suitable Microsoft 365 solution for a bank that provides a centralized cloud collaboration and communication platform to banks. 

Microsoft Teams 

However, it helps banks manage and share customers’ financial queries effectively between the team members by collaborating on a single financial product and service. Microsoft Teams offers one of the best IT services for banking with the advanced function of a secure and highly encrypted video conference environment.  

Hence, it allows bank employees to discuss and share innovative financial ideas for better customer relationships and offer them a secure platform for payment transactions using mobile devices by avoiding identity theft risks.     

Microsoft Defender for advanced fraud protection 

Banks and other financial institutions encounter daily risks and frauds related to monetary loss and payment transaction issues. Moreover, the traditional security tools alone failed to deliver advanced protection against various financial threats.  

Besides, the Microsoft Defender function will act as an effective Microsoft 365 solution for banks, giving high-security levels and protection against malicious attacks. Indeed, the banks will get an extra protection layer with advanced financial fraud detection and risk management solution.  

Therefore, all these functions will defend banks and other financial institutions from malicious attacks like phishing, malware, hacking, identity theft, viruses, and ransomware. In this way, customers will receive and execute secure payment transactions at their convenience.  

Hybrid power apps solution 

To complete specific banking operations and financial services, the bankers and relationship executives undergo face-to-face meetings with customers.  

Besides, specific microservices and repetitive tasks execution is required to complete various financial processes. It becomes time-consuming for the bank employees and relationship executives and directly reduces their productivity and efficiency.  

To solve these issues, Microsoft 365 offers a dedicated IT solution for banking in the form of hybrid power apps. Hence, these power apps will create workflows of repetitive financial operations and automate them to deliver instant results.  

Therefore, these hybrid power apps solution from Microsoft help banks and their employees boost productivity, efficiency, and performance. Also, it delivers the rapid resolution of different financial queries of customers within a short time interval. 

Transform Old-Fashioned Banks into Secure Financial Institutions with Trending Microsoft Technologies 

If you want to achieve and experience secure, fast, and automated financial services with the modern tools integrated into the banking system, you can contact atQor, one of the best Microsoft 365 consultants offering customized IT services for banking as per your needs. 

Microsoft offers numerous modern technologies and digital tools to convert conventional banking operations into highly secure, encrypted, and automated financial services.  

For instance, the latest tools include Microsoft Teams, Power Apps, Power Automate, Defender for advanced financial fraud protection, etc., that deliver banks with the distinct power to execute financial operations and payment transactions instantly and securely.   

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