FINANCIAL SERVICES means banks can automate the end-to-end compliance lifecycle. In one case, regulatory compliance processes became five times faster following implementation, with over 5,000 unique mappings generated and more than 300 regulatory gaps identified and addressed.” Banks and insurers are embedding AI into the core of their operations to reimagine how work gets done. Microsoft’s own finance division has deployed AI agents to streamline everything from quote-to-cash to tax compliance and financial close processes. This has enabled Microsoft to achieve a 75 per cent time saving on reporting and compliance, reduced invoice processing duration by 60 per cent, and cut tax file preparation effort by 97 per cent. “In the broader industry, we’re seeing financial institutions, as well as Microsoft, use AI to automate reconciliation and collections, streamline document-heavy processes and enable intelligent agents for treasury and risk,” says Pichach. “Microsoft’s platform approach, combined with our ecosystem of partners, is helping institutions modernise without needing to rip and replace. It’s about building a bridge from legacy to future ready.” Microsoft AI is also empowering insurance firms to deliver more personalised, proactive and impactful services through innovative collaborations like the one with dacadoo. Imagine an insurance customer whose wearable device shows a steady drop in physical activity and irregular sleep patterns over several weeks. dacadoo’s Digital Health Engagement Platform, powered by Microsoft Azure and generative AI, detects the changes in real time and flags them as potential early indicators of a health issue. Instead of waiting for a health insurance claim to be filed months down the line, the system sends a nudge through the insurer’s wellness app, offering personalised advice to encourage healthier habits and suggesting a virtual check-in with a healthcare provider. At the same time, the insurer’s risk model updates automatically, allowing for more accurate and timely policy adjustments. This kind of early, tailored intervention helps reduce long-term costs for insurers while supporting better outcomes for the customer. “Generative AI will have a significant impact on claims processing,” says Ophir. “It has the power to reduce claims payout by 20 to 30 per cent and decrease loss-adjustment expenses. Across the insurance enterprise, employees will benefit from simplification in how they work, live and consume knowledge. It will remove all the low-touch, tedious activities so people can interact with each other and technology to help get the job done.” Insurers are also using Microsoft Copilot to summarise emails, meetings and documents so employees can focus on more important tasks, PayPal is using Microsoft technology to secure agentic payments 125 Photo: Paypal
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