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Every year, the banking industry’s brightest innovators come to Sibos to educate and inspire attendees with fresh ideas and creative solutions to some of the most common and constant challenges in modern banking. We’re excited to see what new advancements and transformations our customers have made since last year! Microsoft’s value as a trusted thought leader and strategic partner will be on full display focusing on helping banks reimagine how they modernize payments and core banking, manage risk, and combat financial crime.​ Join us for 15 minute Fin Talks in our booth (Z131) delivered by subject matter experts on a variety of topics, like how to deliver on innovation through cultural transformation, exploring the latest in payments in the cloud, fraud protection, and so much more. Additionally, you can sign up for a one-on-one meeting with Microsoft executives, or Envisioning sessions that are designed to help you imagine the possibilities in your transformation journey available on the 2019 Microsoft at Sibos event page.

Modernize payments and core banking

While payments are the backbone of every bank, the payments playing field is no longer level for banks processing on batch-oriented legacy mainframe systems. The rise of fintech, the shift in consumer demands and habits, the democratization of data, and the arrival of multiple new fintech companies have altered the landscape. Keeping pace with these challenges is forcing banks to modernize their platform to improve agility and significantly lower the costs of managing old systems. These new systems—modern data centers and cloud-based technologies—empower banks to meet customer expectations for fast, anytime and anywhere service, while enabling banks to be well positioned to accommodate the increasing pace of new regulatory requirements. Anglo-Gulf Trade Bank (AGTB) aims to deliver a modern, sophisticated digital corporate trade finance and banking solution that facilitates the required access to trade-related banking to underserved businesses, and helps bridge the trade finance deficit. While Microsoft technology powered the bank’s vision, Publicis Sapient, working with the AGTB team, made it happen. As consulting and integration partner, Publicis Sapient worked with Microsoft cloud architects to bring the robust vision and architectural design to life.

Manage risk across the organization

Banks are seeking to deepen risk insights, adapt to a volatile geopolitical environment, and comply with ever-changing regulatory requirements. They’re facing looming regulation implementation deadlines, outdated on-premise systems, and rising compliance costs to meet their required risk management assessments. Leveraging cloud-based tools, infusing processes with AI, and improving data management practices can enable banks to enhance and improve risk insights across lines of business. These insights offer what’s needed to maintain compliance, reduce costs, and improve capital efficiency. As more banks turn to the cloud, there is a lot we can learn from those at the forefront. UBS, the world’s largest wealth manager, is leading the industry in public cloud adoption by using Microsoft Azure for global scale, security, to improve business agility, reduce costs, and gain a competitive edge. The key to UBS’s move to Azure was a significant focus on regulatory compliance.

Modernize operations against financial crime

Security threats and financial crime operations, such as cyber-attacks and money laundering, are becoming more sophisticated so new strategies must be adopted to the fullest. Failure to prevent and protect customers against financial crime is costly and has real-world consequences that extend beyond traditional banks. Verifying suspicious activity with customers is also an increasingly important part of this experience. Recent technology advances from Microsoft and our partners are helping banks improve outcomes on both sides of the trade-off equation—deploying enhanced data analytics to identify outliers faster and conduct near-real-time risk scoring while protecting web and mobile users from cybersecurity threats without compromising the customer experience. Read more on why banks are adopting a modern approach to cybersecurity, and at Sibos check out the Open Theater Session, Protecting Sensitive Information from Insider Risks.

Deliver differentiated customer experiences

To better serve consumers now and in the future, financial institutions are recognizing the rapidly changing needs and expectations of consumers. To better serve these digitally-minded consumers, there are several game-changing technology innovations that can help financial services organizations drive differentiated and personalized experiences. At their core is the ability to tap into the volumes of available data, from transactions, life-events, marketing, social, mobile and more, and use it in meaningful ways. In June we public previewed a new Microsoft Banking Accelerator targeting both Retail and Commercial Banking. At Sibos we’ll showcase how customers can use the Banking Accelerator blueprints and common data models for banking-specific data elements (Know Your Customers, loans, mortgages, referrals, branch details, collateral, and service throughput) and help them take customer engagement to new levels.

Empowering intelligent banking

Leading with trust and innovation in everything we do, Microsoft is looking forward to working with organizations to empower their intelligent banking digital transformation and help them thrive in the hyper-connected world. We want to help organizations become more agile and make smarter decisions by providing a trusted, highly secure and compliant cloud that is embedded with pervasive intelligence, and supported by the largest ecosystem of technology partners. At Sibos, Microsoft will showcase our customer’s digital transformation journeys, highlight developments from key partnerships and engage with leading financial services organization from around the world.