Technology Record - Issue 30: Autumn 2023

133 FINANCIAL SERVICES We asked selected partners how they are using Microsoft technology to help financial services firms combat the challenges associated with governance, compliance and risk Partner perspectives “Whether looking through the lens of implementing a zero-trust strategy, or future proofing against the quantum threat, we help financial services firms enhance their existing Microsoft solutions to combat the challenges associated with governance, compliance and risk. Recognising that these initiatives require significant efforts that should be done iteratively and implemented over time, we help organisations prioritise how and where to start by assessing their current cryptographic systems and environments, ensuring they gain visibility into their processes, policies and technology, then layering on digital security solutions – built on post quantumready architecture – to fill in gaps and prevent risk.” “Formpipe has been taking advantage of cloud innovation with Azure for many years, hosting our software, Lasernet and Autoform DM, to serve the financial services sector in securely generating and archiving customer documentation at scale and speed. We help to modernise their on-premise infrastructure and most importantly, allow them to meet governance and compliance regulations, against a complex geopolitical landscape. We utilise a number of Azure resources to increase privacy through firewall rules, ensure data security and integrity with Geo-Redundant Storage (whilst also accommodating for data sovereignty laws) and reduce risks to our end customers by adhering to ISO27001 regulations in our Azure Policies.” Samantha Mabey Director, Digital Solutions Marketing, Entrust Charlie Cotton Delivery Manager, Cloud Services, Formpipe individuals throughout the financial services industry. This is evident in the extensive innovations recently announced at Microsoft Build 2023 where we’ve integrated AI into Microsoft Azure, Microsoft 365, our development tools, and much more.” Arab National Bank (ANB) is among the growing legion of financial institutions that is using AI to manage risk. Microsoft partners Crayon and Paramount helped the Saudi Arabian bank to implement Microsoft Security across its network. It now has access to real-time threat visibility through Microsoft’s cloud-based AI features. Partners are developing ever-more sophisticated AI solutions, too. BioCatch, for example, a behavioural biometrics solution provider, utilises Azure to streamline fraud detection capabilities. It employs a predictive intelligence module, powered by AI, to generate outputs like threat indicators, risk factors and risk scores. “BioCatch’s fraud prevention solution equips financial businesses with protection measures and digital safety requirements,” says Anu Chawla, director of ISV partner development for global partner solutions at Microsoft. “The solution empowers Azure-using financial institutions to modernise their fraud detection capabilities with global cloud scalability. “The potential of Microsoft Cloud is boundless. In terms of fostering innovation, Microsoft is instrumental in safeguarding customer data, all while ensuring adherence to regulatory compliance standards.” Photo: Unsplash/wocintechcha