This week, Microsoft joined C-level executives, renowned speakers, innovators, and disrupters from throughout the financial services industry at Money20/20 in Las Vegas to showcase how secure and compliant technology empowers employees, drives innovation in payments, and delights customers with differentiated experiences. The show’s theme, “the journey to the future of money,” feels closer than ever before, and we’re excited to partner with financial services institutions to accelerate their transformation in key ways.
Building responsible and transparent AI for financial services.
Financial institutions face major forces impacting the industry such as rising customer expectations, a shifting regulatory environment, and an ever-present need to modernize their workplace. AI is one of the transformational technologies enabling banks to address these challenges and many leaders look to the power of data to increase efficiency and efficacy wherever possible.
With the great power of AI comes great responsibility. Microsoft believes that trust and transparency are key to building AI solutions that build trust and drive inclusivity. AI can deliver great benefits, but it also carries some risks. To help our customers navigate this journey, we are announcing two whitepapers to help guide leaders. The first paper, Microsoft’s Perspective on Responsible AI in Financial Services, explores Microsoft’s ethical guiding principles for AI solutions and how they apply uniquely to financial services. The second paper, Responsible AI in Financial Services: Governance and Risk Management, we explore sources of AI risk such as Data, Models, and usage scenarios.
Seize new opportunities with customer experience management
Customer centricity has become a core way for banks to differentiate themselves in an ever more crowded market. The pervasive question of how to get it done efficiently, however, remains. Breaking down internal and external data siloes has become imperative for banks to discover more about the business in real-time, identify ways to maximize operations, and find ways to provide exceptional experiences to customers. The Microsoft Banking Accelerator helps banks get more from their data by creating a connected common data model that helps shorten time to value on projects and unlocks business value with apps and processes designed for banking.
Empowering employees to drive the bank of the future
Business growth, operational excellence, employee engagement, and customer experience all hinge on creating a modern workplace. With employees at the center of the business from the front office to back office, it’s never been more important to use collaboration to drive these outcomes in a secure and compliant way. At Money 20/20 Microsoft announced a case study on how Franklin Templeton is doing just that. They leveraged M365 to transform their core portfolio management business to make it easier for employees to be mobile and agile in operations and provide employees with the ability to solve challenges with speed from anywhere.