Unprecedented – this is how KPMG defines the current market dynamics while underlining the importance of modernisation and value-added services for the financial sector. It is a sentiment shared by a recent analysis in The Banker of how important payment modernisation has become in driving economic prosperity, financial inclusion and innovation. According to Gartner, stepping forward into this modernisation legacy requires that financial organisations redefine their operating models with a digital-first, autonomous infrastructure that allows for the business to deliver value and innovate with agility.
However, as the research firm also points out, there are budget cuts, change fatigue, skills shortages and digital resistance inhibiting the success of technology investments which is as low as 30%.
It is a dynamic that has to change.
The financial services sector has routinely proven to be a leader when it comes to digitisation and transformation. From payments to platforms, bold digital steps have defined how organisations within this sector have approached technology. Recognising the value of easy, accessible and agile, financial services institutions have created differentiated experiences that have empowered customers and employees alike.
However, there is a need to embed stability within this investment and technology. To find a way of ensuring that organisations achieve their digital transformation and evolutionary goals with minimal risk and increased visibility. Why? Because:
– The right blend of digital transformation approaches can deliver $1.25 trillion in additional market capitalisation, says Deloitte.
– 176% higher forward price to earnings than the lowest performers in their industry.
In short, digital plays a proven role in shifting the earnings narrative for organisations within this sector.
Enter Microsoft Cloud for the financial services industry
Designed to deliver on performance and strategic objectives, Microsoft Cloud helps financial services organisations deliver differentiated experiences that are designed to accelerate loyalty, growth and profitability. With personalised customer interactions, financial insights, risk and compliance mitigation and employee engagement capabilities built in, the platform allows for the organisation to shape its modernisation strategy realistically and within a proven architecture.
Combining Microsoft Dynamics 365, Microsoft 365, Azure and artificial intelligence (AI), Mint can create an ecosystem of intelligence designed to streamline modernisation for financial sector organisations. Dynamics 365 introduces a smooth and unified sales, marketing and service system to ensure the business can create exceptional customer experiences. This is supported by the productivity and collaboration capabilities of Microsoft 365 and the optimisation and risk mitigation capabilities of Azure. Then, AI of course, brings in the document automation, data extraction, customer onboarding and authentication tools that financial services institutions need to optimise and refine internal processes.
The goal is to provide financial companies with exactly what you need to deliver differentiation across customer experiences, systems and services. It is also to ensure that risk is clearly managed – you want technology capable of helping you facilitate compliance, combatting financial crime, and reducing the risks of fraud and cybercrime.
Mint has created an ecosystem designed to reimaging banking across all these touchpoints. We understand precisely what technology you need to understand your customers and deepen their banking experiences while you empower your employees and modernise your core banking platform. We can together accelerate your modernisation journey within your expectations and needs.