Industry-specific cloud solutions – Microsoft Cloud for Financial Services
Industry-specific cloud solutions – Microsoft Cloud for Financial Services
In one of our previous articles, we talked about cloud solutions, their reliability, and applications. Now we present an overview of the cloud solutions chosen by major industry players internationally within the financial sector, where security and compliance are among the factors with the highest priorities. Let’s take a look at the major changes, the choices and solutions offered by/to the different financial players.
Modernising core platforms: In 2021, mainly to stay competitive even during the pandemic, many financial organisations have accelerated digital innovation at record speed. The Canadian Imperial Bank of Commerce, as well as Morgan Stanley for example, has chosen Microsoft Azure as its primary cloud platform. The platforms allow the organisations to scale and modernise their banking platform while also incorporating additional flexibility, efficiency, and agility. It also a tool to accelerate the modernisation of the IT environment and to improve customer and employee experience.
Delivering a differentiated customer experience: As the pandemic has transformed customer behaviour and expectations, in respect of modernisation, many organisations focus on taking customer relationships to a new level, such as Progressive that has taken their chatbot journey to a new level by leveraging the latest capabilities of Azure AI.
Empowering employees and teamwork: Several financial institutions, Zurich Insurance, and Rabobank among others, have chosen Microsoft 365 as the platform for their One Digital Workplace vision. The cloud service ensures that staff could work well together, even remotely, by sharing knowledge and experience with the help of the cloud system. This way, clients improved mobility and collaboration without compromising security and could also deliver a superior customer experience.
Risk management and cybersecurity: Cloud solutions could help organisations better understand their carbon footprint and create personalised measures to reduce their carbon emissions. Microsoft and UK bank NatWest Group, for exempla, has joined forces to help UK businesses better understand their carbon footprint and create personalised measures to reduce their carbon emissions using Microsoft’s cloud, data, and artificial intelligence platform.
The starting point for innovation and growth: There exist industry-specific could solutions that introduces new features to help drive innovation for a responsible and sustainable growth.
Looking to the future: Looking ahead to 2022 significant changes in consumer and SME trends will increase competition in the industry, most notably in terms of customer experience. Another big trend we will see is the transformation of the workforce. Flexible working is here to stay, and talent management has been fundamentally transformed. A thoughtful approach to hybrid working will be key to attracting and retaining diverse talent.
How is it the situation in Hungary? According to the estimations, in Hungary only 16% of the financial sector has moved to cloud solutions, so far, but digital acceleration would be inevitably. DynaGo ensures that its clients have the digital capabilities they need to succeed in the future and is committed to helping its clients on the path to value creation and transition, increase agility and accelerate innovation for sustainable growth.
