Microsoft 365 provides secure and easy to use applications. Financial institutions may use these applications to enhance their productivity and collaboration, for example, Microsoft Teams in Banking and microsoft financial services. Microsoft 365 is a cost-effective way to enhance 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.
If you're interested in learning more about how to create a financial app for Microsoft Teams, be sure to check out our resources page.
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. |
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. | |
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 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. |
Microsoft Teams: Modernizing Core Banking Systems and real-time payments
MS Teams allows banks to compete against new and non-banking by modernizing the older core systems to operate in a more data-driven, real-time, and agile way.
Microsoft Teams: Security for Microsoft financial services and Banking Services
Teams offer strong security for banking and Microsoft financial services industry, including several capabilities to protect combat online banking cybercrimes, sensitive information, and prevent various information swaps leading to conflicts of interest.
Some capabilities of Teams in terms of preventing online cybercrimes and information protection are:
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 4 weeks ago
