Customers want rapid, full services within seamless digital experiences and they’re turning to financial services institutions (FSIs) that meet these needs. Companies within this sector need to prioritise optimisation and innovation so they are leading the pack, creating customer experiences that reimagine finance and service delivery. As EY highlights – understanding customer aspirations, goals and challenges is key to ensuring FSIs engage in ‘customer-centric transformation’ that prioritises the customer and not just regulatory or compliance demands.
It is also an approach that delivers measurable value, as these statistics point out:
- Only two out of 10 FSIs are optimising their customer experiences (CX) and this is largely due to a lack of understanding around how to achieve this. .
- FSIs prioritising the customer are, according to the Forrester and Kameleoon survey, likely to grow 3.2 times faster than their competitors.
- The Zendesk Customer Experience Report 2023 found that 72% of customers want rapid service and 62% believe their experiences should move seamlessly between digital and physical engagements.
These statistics all point to two key elements: First, all systems need to communicate with one another to ensure customer information, frustrations, requests and requirements flow smoothly throughout their engagement ecosystem. This means that information shared by a customer on one channel needs to be connected to their data in another channel and accessible by a customer representative in another channel. Data must be coherent, visible and accessible to remove stickiness and enhance engagement.
Second, FSIs need to invest in solutions that make this level of coherence and visibility as easy as possible. Microsoft’s cloud for financial services offering combines Microsoft D365, Microsoft Dynamics 365 and Microsoft Power Platform to create a solution that helps FSIs to deftly collate, manage and leverage their data.
The depths of the cloud
Combining the multiple layers of Microsoft’s cloud solutions allows for FSIs to dig deep into their customer insights and create experiences that are more relevant and accessible. As Mint points out – these technologies, when integrated correctly within the business – allow for FSIs to connect the digital dots, streamlining processes across sales, customer service, finance, operations and marketing.
The technology comes with several layers of value that make it, well, invaluable to the business. It’s secure, which is a priority for the sector, and this security is constantly and consistently updated and assessed to ensure the doors are locked tight. It is also flexible, allowing for companies to customise their adaptations and use cases to suit their unique business environments and requirements.
Building a cohesive chain of communication from first customer call through to problem resolution across multiple channels, physical and digital touchpoints, and multiple representatives, requires that the system is seamless. The Microsoft Dynamics 365 ecosystem is designed to ensure that FSIs can create unified customer profiles, onboard customers smoothly, meet compliance and regulatory requirements, leverage data more effectively, and build out models and solutions that are coherent and relevant.
Mint offers the depth of experience FSIs need to opt into the right levels of Microsoft architecture. The choices are vast and the options almost endless– the full stack of Microsoft tools can be daunting to dive into without a clear roadmap and comprehensive understanding of their impact on your business. With Mint, you can harness the full capabilities of the Microsoft ecosystem in ways that allow you to expand your service offerings and meet your customer needs.
