Technology Record - Issue 35: Winter 2024

113 FINANCIAL SERVICES We asked selected partners how Microsoft-powered solutions are helping financial services firms to enhance customer experience and empower workforces Partner perspectives “Financial services organisations need to meet regulatory standards such as the General Data Protection Regulation (GDPR), MiFID II and Dodd-Frank, while improving customer experience, productivity and workforce empowerment. Recording Insights, our Microsoft technologypowered solution for Teams, addresses these needs by providing compliant recording and AI-driven analytics. This solution helps prevent fraud, provides actionable insights into customer needs, and enables financial institutions to respond quickly and effectively. With features like automated transcription and sentiment analysis, users can meet customer expectations with enhanced reliability and operational efficiency, turning compliance requirements into opportunities to improve service and performance.” Katrin Henkel President, Americas, ASC Photo: iAdobeStock/HappyBall3692 Analyst perspective BIAN’s Hans Tesselaar offers his view on the impact of AI-powered technology on financial services “Conversational AI is being used to improve customer service offerings and answer frequently asked questions in a more personalised way. Organisations can also use AI to process past customer behaviour, demographic data, preferences to recommend products to increase customer engagement and drive revenue growth, this is something we’re exploring as part of our latest Coreless Banking concept. When it comes to employee engagement, AI is making organisations more efficient, freeing up employees to focus on more satisfying tasks, and reducing burnout by automating manual tasks such as data processing.” Hans Tesselaar Executive Director, Banking Industry Architecture Network

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