Understanding the Benefits of Microsoft Cloud for Financial Firms

It has been always challenging for financial firms when it comes to handling data. Not only they have to organize the large chunks of information, but also deal with the concern called cybersecurity. Enter Microsoft cloud Azure.

It can help you meet the both requirements. Azure comes with many features that can support security, compliance and customer experience.

Here we will walk through the benefits of Microsoft cloud for financial firms.

Onboarding Process:

When you integrate Microsoft Cloud into your business, you need to interact with the onboarding process. To enhance your team’s use of the cloud, you will be given several effective apps and self-service tools. For instance, you can obtain support for the application suite, remote access, and identity protection capabilities with a Microsoft 365 Business Premium subscription.

Security and Compliance:

Azure can also help you with security and compliance.

Microsoft offers support for more than 90 compliance certifications, 50 of which provide support for certain countries, and 35 of which address particular business requirements.

Additionally, it offers a regulatory compliance feature that enables you to keep track of, evaluate, and improve your organization’s posture in accordance with national, international, and sector-specific standards and laws.

By using the Microsoft cloud, your financial organization can more readily incorporate proactive security solutions, including screening and fraud detection across mobile, online and customer support channels.

To identify cloud risks, there are Cloud Access Security Brokers (CASBs), real-time SaaS monitoring, and IaaS for cloud application backup and disaster recovery.

Account Protection:

Microsoft Cloud helps your business prevent fraudulent digital account creation and account takeover by cybercriminals. You can quickly identify threats and respond accordingly with layered security tools like multifactor authentication, Azure Active Directory, and SOC-as-a-Service.

Purchase Protection:

Your security team can create policies with Azure Information Protection to classify and safeguard data based on its sensitivity in order to increase retention and profitability. No matter whether the data is shared internally or externally, you can add classification information for persistent protection.

Customer Acquisition and Retention:

With Dynamics 365, banks can personalise customer experiences and get a single view of each individual. Microsoft Cloud for Financial Services provides several tools for banks to use.

As a result of the technology, you can also monitor your customers’ behavioural patterns, and take action when you see potential customer attrition. In addition, Microsoft has developed onboarding tools that make the process of signing people up faster and easier.