fbpx
January 18, 2021

10 Ways Microsoft is Winning in the Finance Sector

Microsoft 365 is providing secure and easy to use applications, Financial institutions may use these applications to enhance their productivity and collaboration, for example, Microsoft Teams in Banking. Microsoft 365 is a cost-effective way to enhance the productivity and always to stay at the forefront of technological innovations.

All the financial industries have concerns about security, compliance, productivity, and cost optimizations. Microsoft 365 is a simple answer to all their concerns.

  • Security – Microsoft 365 provides end to end encryption of the data, does not matter if the data is in transition or at rest. Microsoft have thousands of security professional who are making Microsoft Cloud infrastructure secure on daily basis.
  • Compliance – Microsoft 365 provides compliance offering to help financial institutions to meet the industry standards.
  • Productivity – Microsoft is offering safe and secure options to use the Microsoft 365 and other applications remotely, while at the same time complying the standards and regulations.
  • Cost optimization – The best advantage of using Microsoft 365 is that it eliminates the requirement of purchasing the hardware and mobile devices. Because of the all the employee may work on their own devices and at the same time Microsoft helps the organization to comply the standards and regulations.


Microsoft Applications and their Use Cases for Banks

Below we are going to discuss some Microsoft 365 applications and their use cases.

Application

Description

Use Case

Microsoft Teams in Banking

Microsoft Teams is a cloud-based team collaboration software, that is part of the Office 365 suite of applications. The core capabilities in Microsoft Teams include business messaging, calling, video meetings and file sharing

With Microsoft Teams, Banks easily facilitates the process of a mortgage loan application, allowing seamless coordination between the mortgage loan officer, underwriting and processing team, escrow, and the client.

Exchange Online

Microsoft Exchange Online is a hosted messaging solution that delivers the capabilities of Microsoft Exchange Server as a cloud-based service. It gives users access to email, calendar, contacts, and tasks from PCs, the web, and mobile devices

Microsoft Exchange helps Banks to communicate and collaborate internally and externally under security and compliance standards which meets the SBP requirements. 

SharePoint Online

Microsoft SharePoint is a cloud-based service that helps organizations share and manage content, knowledge, and applications to: Empower teamwork. Quickly find information. Seamlessly collaborate across the organization

With SharePoint Online, Banks may create a Document Management System and store non-core operations data on SharePoint. Create retention policies as required by the SBP. SharePoint made document management very easy and helps banks to go paper free.

Yammer Enterprise

Yammer is a best-in-class, secure, and private enterprise social network. Yammer empowers employees to be more productive and successful by enabling them to collaborate easily, make decisions faster, and self-organize into teams to take on any business challenge.

Using Yammer helps Banks top level management to interact with all the employees and get the opportunity to recognize the hard work, receive feedback and provide feedback.

Microsoft Forms

Microsoft Forms is a simple, lightweight app that lets you easily create surveys, quizzes, and polls.

With Microsoft Forms, Banks easily facilitate the New Customer or existing customers with just online forms which is on the web and may be automatically routed to the respective department and also helps you bringing in more and more customers.

Power Automate

Power Automate is a service that helps you create automated workflows between your favorite apps and services to synchronize files, get notifications, collect data, and more.

With Power Automate, the customer form you received using Microsoft Form will automatically be transferred and processed by respective department and you may also automate the approval etc.

Microsoft Planner

Microsoft Planner is a project management application developed by Microsoft that allows teams to create, assign and organize work visually.

Using Microsoft Planner, Banks can better facilitate teamwork, as well as progress visibility and coordination.

Microsoft Bookings

Microsoft Bookings makes scheduling and managing appointments a breeze. Bookings includes a web-based booking calendar.

With Microsoft Booking Banks may integrates this with Outlook to optimize your staff’s calendar and give your customers flexibility to book a time that works best for them.

Productivity Apps (Word, Excel, PowerPoint)

Microsoft is providing the productivity applications to work smarter and enhance the productivity of the employees and save a lot of time.

Productivity application are easy to use. They not only let you create spreadsheet, document and presentations but also stores millions of lines of data.

Windows Virtual Desktop

Windows Virtual Desktop is a desktop and app virtualization service that runs on the cloud. Set up a multi-session Windows 10 deployment that delivers a full Windows 10 with scalability. Virtualize Microsoft 365 Apps for enterprise and optimize it to run in multi-user virtual scenarios.

By using windows Virtual Desktop Banks may allow their employees to work from anywhere around the globe on the Banks managed operating system, under complete surveillance and reporting option.

Above most of the Microsoft applications are explained using the financial institutions use cases. Microsoft Teams in Banking will help you go paper free and get the most productivity from the employees. Your institution too, can benefit from this opportunity by hiring a Microsoft Gold Partner to help you migrate!

(Last Updated On: April 3, 2021)

Last Updated 2 weeks ago

About the Author

With a Master’s degree in Information System’s from Griffith University, Awais took up technology to explore his passion for cloud computing and IT security. He has a love for challenges and is fervent about his work.

Awais Khalid

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
>