Money20/20 USA took place in Las Vegas in October 2021, marking the 10th anniversary of the event. During the show, The Fintech Times caught up with several companies to discuss what the last 18 months looked like for them and what their key focus is moving forward.
As the financial services industry wrestles with continuous change, banks must find ways to strike a balance between providing a stellar customer experience while balancing the need to have a strong foundation of risk, compliance, and service and ultimately meeting customers where they are. In this video, Willayna Banner, Head of Worldwide Financial Services Strategy Enablement at Microsoft and Peter Garadis, Financial Services Advisory Lead for North America at Avanade, discuss how the path forward starts with enhancing the employee experience to enable clients to deliver a next-generation customer experience.
Willayna Banner explains that the Microsoft Cloud for Financial Services was developed with customers in mind. Four new and several existing capabilities are offered through the Microsoft Cloud.
These include:
- Unified Customer Profile: A 360 comprehensive view of the customer – the more employees know, the more unique the customer experience.
- Customer Onboarding: Accelerating the onboarding process to enable customers to get access to loan applications and self-service tools, for example.
- Collaboration Manager: Enables automation, collaboration, and communications to accelerate ‘time to close,’ minimize errors, and enhance the customer experience.
- Banking Customer Engagement: Helps personalize customer interactions with relevant financial information to accelerate time to resolution and ensures the financial institution continuously learns from each interaction with the individual account holder.
When combined with improvements to existing processes such as security, risk and compliance, the result is a financial services industry poised to thrive in the next generation of commerce.
“It’s really important for us to meet customers where they are,” said Willayna Banner. “By leveraging our robust ecosystem of partners, we’re able to extend our capabilities even further. When we think about our amazing partners like Avanade, we can curate an experience for our customers that’s bespoke and specific to them.”
Speaking on the partnership between the companies, Peter Garadis said: “We are very close partners with Microsoft, and that really affords us proximity to collaboration in the field in serving clients and also at the engineering level, giving us visibility to the solution road map. That helps us bring solutions to clients. When we understand their needs and their environment, we can bring appropriate solutions.”
To find out more on this, watch the full interview now.
