Beyond Money20/20 USA: Microsoft partners redefining financial services
At the 2024 Money20/20 USA, financial leaders saw how Microsoft Cloud for Financial Services is empowering partners to drive innovation, unlock business value, and strengthen customer relationships in the AI era. By taking advantage of solutions like Microsoft Fabric, Microsoft Azure Open AI Service, and Microsoft Copilot Studio, financial institutions can unify data for impactful insights. In this blog—a companion to Bill Borden’s recent post, “Accelerating financial services transformation with AI”—we dive into how Microsoft and its partners are delivering real-world, AI-powered solutions that help financial organizations lead in today’s dynamic landscape.
Microsoft Cloud for Financial Services
Unlock business value and deepen customer relationships in the era of AI.
Microsoft partners at Money20/20 USA
Microsoft was proud to showcase powerful partnerships at Money20/20 USA, featuring many partner solutions driving AI transformation in the financial services industry.
This included a suite of compelling demos from Microsoft partners including Temenos, Accenture-Avanade, Infosys, Backbase, Symphony AI, and Zafin. Accenture-Avanade demonstrated their Relationship Manager agent, which can improve relationship management across sales and services by freeing up capacity and enhancing client interaction quality. Additionally, Infosys’s Smart Agent and Smart Bank Assist showcased improvements to banking experiences for both employees and customers.
Microsoft partners, including Cognizant, EY, Intellect Global Transaction Banking (iGTB), Personetics, D-iD, Integrate AI, and others, participated in theater sessions at the Microsoft booth. They presented their thought leadership around the most compelling AI-enabled use cases and deployment methods within banking and financial services. Additionally, Microsoft-sponsored panels with NVIDIA and BNY uncovered practical tips and considerations for scaling and deploying the latest AI technologies, further positioning Microsoft partners as thought leaders in the AI space.
These collaborations reflect the Microsoft commitment to empowering partners to drive impactful, AI-powered solutions that help customers achieve their business goals and transform the future of financial services.
Partners leading the way in delivering real-world AI value for financial services
Taking a page from our Money20/20 USA presence, we’d like to share compelling examples where our partners are using AI to transform the banking experience, empower employees, help manage risk and compliance, and modernize core banking. These partnerships are not just exploring the possibilities of AI—they’re delivering concrete, measurable outcomes in the financial services space today.
Transforming the banking experience
Partners are transforming the banking experience by unlocking opportunities to enhance customer engagement. Backbase is delivering more compelling customer experiences around omni-channel for banking and wealth management based on their Engagement Banking Platform powered by Microsoft Azure AI. Capgemini, the Microsoft Global Financial Services Partner of the Year, has also driven AI innovation on the Microsoft platform, improving productivity and elevating the customer experience at financial services organizations worldwide.
“Capgemini and Microsoft have collaborated on enhancing business processes with Copilot Studio and Azure OpenAI Service, helping banks and insurers better serve their customers. For instance, Capgemini recently helped a major Global bank streamline and accelerate its customer onboarding process with Microsoft Intelligent Document Processing, using AI Builder for structured documents and Azure OpenAI Service for unstructured documents. These technologies have saved an enormous amount of time developing impactful solutions for our customers.”
Vivek Desai, VP and Global Head, Microsoft CoE for Financial Services.
Additionally, global financial services solutions provider, VeriPark, is advancing custom agents that span 40 use cases across corporate and retail banking.
“[Collaboration] allows us to deliver cutting-edge AI solutions that not only enhance operational efficiency but also empower banks to provide personalized, real-time services to their clients.”
Özkan Erener, CEO, Veripark
Empowering employees
There are also meaningful opportunities for AI to empower banking employees to be more effective trusted advisors to their customers. Using Microsoft Fabric and Copilot, Finastra’s Assist.AI, powered by Azure OpenAI, is boosting trade finance employee productivity with intelligent features that enable users to better prioritize and more efficiently complete everyday lending tasks. In addition, Tata Consulting Services (TCS) is modernizing how they engage with customers via an agent designed to optimize communication between banks and their users across all customer engagement channels.
Managing risk and compliance
When it comes to mitigating risk and crime, partners are delivering new intelligent approaches. ASC is providing institutions with more decision-making power around managing fraud and risk, while SymphonyAI is consolidating enterprise-wide risk and compliance across their Sensa Investigation hub solution, powered by Microsoft Azure and Azure Open AI. Additionally, partners like Holistic AI are helping customers such as Mapfre identify and mitigate risks associated with AI, while harnessing their data to ensure transparency, fairness, and compliance.
Modernizing core systems
Microsoft partners are also using AI in the mission-critical task of modernizing payments and core banking for greater efficiency, transparency, and high-value outcomes such as unlocking new revenue streams, reducing operational costs, and enhancing customer satisfaction. Temenos is delivering banking-specific solutions to provide agility, security, and innovation—to help banking customers reduce operational costs and uphold responsible AI standards via their commitment to explainability, secure operations, and safe deployment practices. Zafin advanced their leading software-as-a-service transformation and modernization platform for banks with Azure AI; this includes their de-risked implementation process that generates a 50% reduction in time to market1.
“The introduction of generative AI and Microsoft Fabric from a data standpoint are crucial…”
Chris Dickin, Executive Vice President, Zafin
Additionally, the collaboration among Microsoft, our partner Quantexa, and European bank Novo Banco has delivered advanced banking data estate modernization in the era of AI.
Learn more about financial services solutions from Microsoft
Whether you joined us in person at Money20/20 to see the latest AI innovations from Microsoft and our partners, or are just now discovering the difference our technologies and partners are making in the industry, we invite you to collaborate with us on your own transformative AI experiences.
- Learn more about Microsoft solutions in the financial services industry and our work with key partners by visiting Microsoft Cloud for Financial Services.
- Learn how our partners are delivering industry-specific solutions faster with Microsoft Industry Clouds.
- Visit our Solutions Partner learning path (which includes Microsoft Learn documentation, a playbook, and FAQs), and explore related financial services stories in our financial services industry blog.
The post Beyond Money20/20 USA: Microsoft partners redefining financial services appeared first on Microsoft Industry Blogs.
Source: Microsoft Industry Blog