Introducing the Microsoft Cloud for Financial Services offering
I am thrilled to be sharing more about the partner opportunities available with the Microsoft Cloud for Financial Services, generally available on Nov 1. This industry-specific cloud introduces new capabilities that add to our existing public cloud offerings and in combination truly unlock the power and value of the Microsoft Cloud to help innovate for responsible and sustainable growth. Our industry cloud has a foundation of privacy, security, and regulatory compliance across Microsoft and our partner ecosystem, and it is built on an industry data model that enables interoperability and innovation.
The power of Microsoft Cloud for Financial Services doesn’t stop with our first-party technologies and solutions—our partners play a central role to its success and scalability. Partners and their solutions are already deeply integrated across the banking, insurance, and capital markets. The Microsoft Cloud for Financial Services is a value-additive platform which partners can leverage to scale and seamlessly integrate their solutions driving the frictionless exchange of usable information across customer systems and platforms.
Providing an industry-specific technology solution to meet customer needs
In the past year, a second wave of digital transformation swept through nearly every industry, driving structural changes that will far outlast the pandemic. As a result, it demonstrated how critical technology is in helping businesses, citizens, and societies adapt to change and shift in business priorities. In fact, 87 percent of financial services employees agree that digital-first companies had a competitive edge in the pandemic (The Economist). Financial Service respondents to the global Economist survey suggested cloud computing as the most important technology needed to meet their objectives. After all, cloud computing provides the environment in which new, scalable digital products and services are often built and run.
“In an era of continuous disruption, financial institutions need digital solutions and processes that are interconnected and frictionless to help meet evolving needs. The KPMG Connected Enterprise framework leverages and expands on Microsoft Cloud for Financial Services capabilities, enabling customer-centric digital transformation in a secure and scalable environment to help drive sustainable growth.”—Judd Caplain, Global Head of Financial Services, KPMG.
Industry Clouds designed as a launchpad for our ecosystem and to drive innovation and enable partners to deeply integrate and extend the value of these new digital capabilities. With a $300 billion cloud computing opportunity, partners who pivot will be more relevant to customers, have accelerated time-to-market, drive consistent wins, and customers Time To Value (Inspire).
Why the Partner ecosystem is key to meeting customer needs
Our partners are dedicated to better-serving customers by helping provide more integrated solutions, identifying new opportunities for innovation, and decreasing time to market.
Microsoft’s growing ecosystem of partners can help customers achieve their goals by extending existing Microsoft Cloud solutions and providing expanded Industry Cloud capabilities.
The Microsoft Industry data model further enables flexibility in building unique solutions and the ability to quickly build applications. The model helps define and customize processes to manage differentiated customer experiences, empower employees, and provides protection against financial crime with a more frictionless ecosystem for shared customers.
Partner Solutions are encouraged to operate in compliance with industry regulations meeting customers’ high privacy and security expectations.
“EY’s Financial Services industry experience and business ingenuity, combined with the power of Microsoft Cloud for Financial Services, can help our clients accelerate transformation and overcome regulatory hurdles to move to and innovate in the cloud.”—Lori Murray, Managing Director, Financial Services Leader, Ernst and Young Microsoft Services Group
Services Partners will help customers digitally transform their businesses with Microsoft Cloud for Financial Services. They will be able to unlock new revenue and services opportunities such as functional implementation, last-mile configuration, and customization to customers’ environment, business processes, and organizational change management.
ISV Partners can extend the Microsoft Cloud for Financial Services value with rich features and capabilities for mutual customers. Partners can scale their go-to-market by aligning to Microsoft marketing and sales motions. Any new solutions can take advantage of whitespace opportunities, extend core cloud capabilities, build upon the industry data model, or deliver complete business processes.
Aligning the Partner’s Go-to-Market with Microsoft Cloud for Financial Services are ideal to accelerate customer opportunities and increase market visibility.
“At Avtex we believe strongly that industry-specific solutions are essential in providing a differentiated customer experience, unique to each industry. We are very excited to partner with Microsoft in the launch of Microsoft Cloud for Financial Services; a platform that will accelerate Financial Institutions digital transformation and help them provide a hyper-personalized experience for their customers.”—Steve Thompson, Sales, EVP
How Microsoft’s partner solutions bring the Cloud to life
Microsoft’s Cloud for Financial Services helps enhance collaboration, automation, and insights to streamline processes, personalizes every customer interaction, improves customer experience, and delivers rich data insights.
Partner Solutions’ are offered in various ways to help customers accelerate their digital transformation journey. For example, Backbase blends traditional and neobank capabilities on a single platform that works seamlessly across any device. They create powerful customer experiences by giving the customer control of their financial future, empowering them with dashboards, budgeting, account aggregation, and creating seamless omnichannel experiences.
Carrington Mortgage Services is making the dream of homeownership a reality by providing responsible home financing solutions for thousands of people who may otherwise be challenged to receive financing. As a retail, wholesale, and correspondent mortgage lender headquartered in Anaheim, California, Carrington has embraced the Microsoft Cloud and mortgage-aware SaaS product, Mortgage365, which provides a more integrated experience for both internal lending staff and borrowers, enabling greater efficiency, productivity and, ultimately, a better borrower experience.
“Mortgage365 is the most comprehensive prospecting and point-of-sale product in the mortgage industry. It combines many elements of lead management and origination into one elegant platform—the mortgage specific user interface and the integration power of the platform is truly unique and unmatched.”—Ali Redjai, SVP, Solutions Management Office, Carrington Mortgage Holdings
Mortgage365, an end-to-end digital lending platform, helps customers meet their financial goals by leveraging the Microsoft Cloud for Financial Services, connecting disparate mortgage data systems, automating core processes, and providing Carrington with visibility into the full customer picture. Mortgage365 has powered CMH’s Servicing Retention Team with more than 900,000 customer interactions over the past three years and provided the platform to effectively double their origination capacity during a period of extreme mortgage volume.
Provided below are additional ways partners can learn more and amplify with customers: