The Record Issue 10: Autumn 2018

66 www. t e c h n o l o g y r e c o r d . c om F E ATUR E V I EWPO I NT Going a step further Open platforms and new technologies empower banks to transform their operating model and customer services, says Mike Walker from Finastra Financial service providers are looking beyond mere compliance with regulations; they are using the regulations as a catalyst for wider business model change. They are looking at how real-time transactions and data access, coupled with advanced analytics and tailored service offerings, can help differentiate them on experience and maintain their relevance with clients. Organisations must connect traditionally siloed businesses at a technological and operating model level to deliver the solutions and experiences customers demand. In addition, they need to harness the increased amount of data available to deliver the right services and products to their clients, at the right time. Next-generation open platforms and cloud technology are empowering companies to reduce overall costs and enabling them to deliver new products and services at speed to their consumer base. This lowers barriers to financial inclusion and grows their business with new and existing clients alike. Finastra is helping organisations involved in trade finance to adopt its Microsoft Azure-hosted Fusion Fabric.Cloud platform. Combining transactional capabilities with natural language processing and big data, this connected ecosystem provides banks with a more holistic view of their trade business. It also provides the means to automate processes that are traditionally manual and labour intensive, allowing them to differentiate on experience and provide more effective insight to their clients. Mike Walker is head of Sales Enablement – Corporate Banking and Payments at Finastra V I EWPO I NT Driving improved experiences DXC Technology’s Lori Murray says security and convenience are the key to success in the digital economy Consumers associate the financial services industry with security, so the industry knows that it must move to the future mode of operation with minimal risk to customers. Organisations must also continue to find ways to improve customer engagement in the digital economy. Many customers are still entering the branch because what they need isn’t offered in a more convenient channel. Financial institutions must serve their customer base in ways that enhance service by identifying inconvenient processes and optimising them to eliminate any inconveniences. They can use innovative tools powered by Microsoft Azure and interject machine learning capabilities to build smarter processes. Using artificial intelligence, bots and machine learning to build virtual assistants enables companies to enhance customer and employee experiences, while decreasing expenses such as training and communication costs. DXC Technology helped a client to implement a solution for a customer using Microsoft Azure, Dynamics, Unified Desktop, and bots to build a virtual assistant that has critical, timely information to serve the customer end to end. DXC also implemented a streamlined lending process using the existing loan origination system to prevent the company completely replacing its existing solution. The solution was deployed within 10 months and the client’s market share increased because it could book loans 98%more quickly. Lori Murray is global product leader, banking and capital markets at DXC Technology