Information without insight is just noise

Transform with open and connected systems

Imagine an experience where:

  • Predictive systems track and aggregate data to predict new needs or spikes in product demand and initiate automatic actions – developing customer-centric services and products will differentiate the bank from others on the high street. Responding to changing economic trends and social media feedback will keep the products in line with public sentiment.
  • The interaction of bank systems and connection of services deepens the insight you have on customers – risk and operational insights enables the bank to optimise their business from maximising the customer lifetime value to making a visit to a branch a better experience.
  • The performance of physical branches is constantly monitored with in-store sensors to improve the physical branch layout in relation to customer experience – the Internet of Things delivers a rich source of data within a secure environment respecting the privacy concerns of customers and employees alike.
  • A regular dialogue with everyone in the organisation establishes an organisational literacy – Establishing organisational clarity on the impact your organisation makes on people’s lives will yield new insight and a relentless organisational focus on enhancing the customer experience.

As an example, a new generation of fraud detection systems employs predictive machine learning analytics running on Microsoft Azure. This predictive platform is enabling banks to cut fraud losses in half and speed credit-risk calculations by a thousand times.

Cloud-based transformation is augmenting the agility, capacity, speed, and most importantly, the intelligence of risk management systems and operational insights. Banks are combining structured data from financial transaction systems with unstructured information that is becoming available in social networks, market data streams, and other publicly available digital data sources. The computing power of the cloud is giving rise to predictive models that can analyze and learn from petabytes of data in quasi-real time. The cloud is enabling banks to store and process such ultra-large amounts of information efficiently and rapidly, as these represent a daunting computing challenge for traditional data centers.

In partnership with industry leaders and cyber security organisations, Microsoft has been building up capabilities to protect the privacy and security of digital information from banks and their customers. Such a level of protection is getting to the point where cloud-based processing surpasses the internal safeguards at most banks.

As banks take part in the digital ecosystem, they will find creative sources of revenue stemming from a vibrant economy of interconnected services that ride on intelligent APIs.

The proliferation of digital devices and sensors employed by bank customers and also for internal operation is giving rise to new financial analytics and product offerings.  The internet of Things is here … collecting data is easy, it’s what you do with it next which is the interesting part.

Establishing organisational clarity on the impact the Bank makes on people’s lives will yield new insight and a relentless organisational focus on enhancing the customer experience.

Next Step

To realise the value of your data contact Microsoft Services msukservices@microsoft.com.

Click here to read the full series on how Microsoft Services is imagining what the future might bring