Technology Record - Issue 28: Spring 2023

FINANCIAL SERVICES We asked a selection of Microsoft partners about how they are building on Microsoft’s AI capabilities to transform financial services Partner perspectives Tim Sherwood Global VP, Product & Offer Management, Avaya “AI technology is dramatically transforming the customer contact centre, especially in the financial services arena where it is improving customer satisfaction and loyalty, reducing costs and increasing efficiency by enabling effortless and personalised experiences. The use cases range from secure authentication to chat and conversational voice bots, which offload agents for common requests. Microsoft’s secure identity services combined with the Nuance suite of AI and machine learning for customer interactions and biometric authentication enables our customers to quickly develop and deploy these advanced, scalable and personalised AI-powered communications experiences globally, while ensuring strict adherence to regional data sovereignty and privacy regulations.” “Infosys believes that Microsoft’s AI capabilities have the potential to expand into new markets. We have been focusing on creating differentiated offerings leveraging capabilities on Microsoft Cloud for Financial Services and Microsoft Azure AI. We are partnering with major financial services enterprises to build innovative and experience-rich solutions leveraging Microsoft Power Platform, that are amplifying the banking experience. Our solutions have helped major banks digitise their customer onboarding journeys, automate customer risk profiling and scoring by leveraging components of Power Platform, Dynamics 365 and Azure.” Debanjan De Sarkar Lead Consultant, Microsoft Practice, Infosys 121 “AI is becoming increasingly prominent in financial services systems, and is changing the way the financial sector operates by increasing fraud detection through earlier detection and learning, as well as adapting to new fraud tactics. Businesses can make their risk management more robust and enhance their trading and investment by analysing larger amounts of data faster and interpreting historical data and current market trends with AI. In addition, pairing AI with automation technology such as MetaViewer’s AP automation enables companies to achieve huge efficiencies and costsavings. AI technology is rapidly innovating the financial services sector, changing the way people work and organisations function.” Andy Birkey Marketing Communications Specialist, Metafile Information Systems