What is the use of Microsoft Cloud in Financial Services?

Microsoft Cloud for Financial Services is the modern solution for modern businesses to accept digitisation, empower employees with sufficient tools, and simply provide all financial services to an organisation. It offers cloud capabilities that push a business to scale, streamline complex processes, and deal with financial offenses.

In this blog, we are going to discuss the core aspects of Microsoft cloud computing in financial services and how modern businesses can leverage them with ease. Before starting over, let’s understand the core concept of Microsoft Cloud for Financial Services.

What is the Microsoft Cloud for Financial Services?

We can see the diverse complexity around financial businesses, whether it is connecting different processes or tracking data in real time. Businesses have to adapt to the cloud and its different aspects to accept the changes.

The cloud enables a business to manage all processes in real-time, centralise data on various operations, personalise customer experiences, and find new opportunities for growth. Also, it empowers businesses to take care of their data by leveraging the strong encryption of the Microsoft cloud.

When it comes to clouds, there is no limit to their features and capabilities. You can make your business compliance-friendly by meeting global standards, prompting real-time collaboration, and utilising automation. Also, you can connect different departments, personalise customer interactions, and encourage customer relationships.

Microsoft Cloud in the financial industry offers powerful functionalities to streamline operational processes while accelerating ROI.

You can even integrate solutions from the Microsoft Dynamics Ecosystem to enhance the performance of a solution. Whether it is integrating Power BI with Dynamics 365 F&O or Dynamics Finance with Customer Insights, you can go for integration using integration technology.

Microsoft Cloud for Financial Services offers the optimum tools and features required to meet the unique needs of insurance companies, capital market firms, banks, and financial institutions.

Key Features of Microsoft Cloud for Financial Services

There are endless traits of the Microsoft cloud that aid diverse businesses in growth and offer a good level of customer satisfaction. It even offers different self-service tools that can help you onboard your customer smoothly. Some of its other major features include:

Unified Customer Profiles

Microsoft Dynamics 365 offers a centralised system that enables a business to get a 360-degree view of the entire business from a single dashboard. It combines a variety of data that includes financial data, customer behaviour, interactions, purchase history, demographics, and trends. This data lets a business personalise customer interaction to send the most relevant and relatable offers to customers.

Safe Communication

Microsoft offers a sustainable platform where team members can communicate and collaborate with each other without any hassle. It comes with a secure communication channel that establishes the connection between the team and the customer, ensuring full privacy and confidentiality.

Advanced Data Analytics

Microsoft Cloud for Financial Services offers powerful and engaging data analytics tools to help you analyse large sums of data within minutes. Regardless of complexities, Dynamics 365 allows you to fetch useful customer data that includes behaviour, choices, market fluctuations, and purchase history to make data driven decisions.

Seamless Reporting

Most of the native Microsoft solutions come with standard reporting capabilities. However, regardless of the solution, you can integrate Power BI with your existing solution, whether it is Microsoft Business Central or Dynamics 365 Finance. With Microsoft Power BI, you can build Power BI dashboards and generate visually appealing reports with easily digestible data.

Smooth Communication

Microsoft Cloud empowers businesses with smooth and sustainable communication, endorsing internal or external communication. Also, you can integrate Microsoft Teams or SharePoint to foster smooth communication and data sharing. This will help you build a workflow of data sharing with a collaborative approach for unified growth.

Enhanced Compliance Management

Microsoft Cloud offers solutions based on international terms and compliance so that you can perform business across global boundaries. With robust capabilities, Microsoft cloud ERP ensures regulatory compliance, which includes data loss prevention. This will empower businesses to focus on growth rather than stick with basic business activities.

Advanced Fraud Detection

Microsoft Azure is a cloud computing platform that follows 90+ security certificates and encryption protocols to ensure your data's safety at all costs. It comes with features that can track or predict a fraud or malware attack to mitigate financial risk.

Embedded Data Security

All Microsoft solutions come with built-in security features, like multi factor authentication, to safeguard your data and protect it from all vulnerabilities. It will help you secure your sensitive financial data and make it available for your team only.

Enhance Banking Experience

Offer personalised interactions to customers and enhance customer loyalty, profitability, and customer satisfaction. You can simplify the banking experience of customers through self-portals and knowledge bases to improve customer retention.

How can Dynamics Square help you implement Microsoft Cloud solutions for your financial institutions?

Dynamics Square has been in the business of implementing Microsoft cloud solutions for the last 14 years through modern technologies and innovations. We know what businesses need to grow in the world of competition and system complexities.

The implementation of any Microsoft cloud solution depends on your business requirements and complications. If you are a small business and want to simplify your financial processes along with those of other core departments, you can opt for Microsoft Business Central with cloud deployment.

If you are a medium- or large-sized business with complex financial requirements, you can opt for Dynamics 365 Finance and Operations, or specifically Dynamics 365 Finance.

However, choosing the perfect solution depends on the different parameters of a business. In such a scenario, feel free to contact our Microsoft-certified financial advisors or consultants, and they will guide you through the ideal procedure for choosing the perfect solution.

In case of need, feel free to write us an email at info@dynamicssquare.co.uk or call us directly at +44 207 193 2502 to get instant help.