Role of Data in Banking

Banking institutions are increasingly adopting efficient data strategies to enhance various facets of their operations, including customer experience, customer retention, and overall financial performance.

To make a greater impact on elements, financial institutions must use their customer data resources to their advantage. By bringing customer data together, they can understand customer trends, preferences, and behavior. Moreover, they can tailor banking services to their clients thus earning their trust and loyalty, leading to enhanced outcomes.

Customer experience is vital in every sector, particularly in banking.

Today, customers have diverse of ways to interact with banks – through mobile apps, SMS, and online platforms – and they expect services to be customized to the way they want.

This points to the need for a comprehensive solution that collects customer data from various sources, builds a comprehensive customer profile and facilitates personalized communication with customers.

Here the significance of customer data platform comes.

Customer Data Platform enables financial institutions to achieve a comprehensive understanding of their customers by consolidating data from various interaction points, facilitating a more thorough grasp of customer behaviors, preferences, and requirements.

How to take advantage of your data?

Harnessing the power of data is important and with that, financial institutions can empower their customer service and improve business growth.

With Microsoft Customer Data Platform, you can better manage your customer data and gain information about various customer trends and customer behavior. Microsoft Dynamics 365 Customer Insights is an enterprise-grade customer data platform which provides a deeper understanding of your customers.

Integrated with AI (artificial intelligence) and analytics, Microsoft Customer Data Platform (CDP) brings customers customer data together in real-time and provides a unified view, helping banks to deliver services customers anticipate. The platform grabs data from various sources such as customer profiles, touchpoints, transactions, emails, offline and online channels.

Bringing together the transactional, behavioral, and demographic data, banks can better understand customer interests and preferences, and this helps customer support teams to target customers with financial offers and services.

Built-in AI helps identify high-valued and at-risk customers. Banking officials get the opportunity to re-engage customers who are about to put an end to banking services.

AI-powered insights can be efficiently used for promotional activities. The other key element customers think about is the safety of finance transactions. They can integrate Dynamics 365 Fraud Detection to protect customers and revenue. It helps banks to identify suspicious financial activities before it becomes a big threat to business.

Gain valuable insights and provide outstanding experiences to customers with Microsoft Dynamics 365 Partners

Microsoft Dynamics 365 Customer Insights (Microsoft CDP) can make a significant shift in the customer experience. You can do more with Dynamics 365 Customer Insights.

  • Accelerate personalized customer experiences across all online and offline channels and in-person.
  • Audience insights capability empowers your marketing, sales, and customer service teams.
  • Predict customer intent, understand their behavior, and make informed decisions.

You can enable and extend Dynamics 365 Insight’s capabilities with integration of Microsoft 365, Microsoft Power Platform, and other apps.

Your Microsoft Partners can provide you with expert guidance with this. With Power Platform integration, you can create low-code custom business apps using Power Apps, automate business processes using Power Automate, and generate deeper insights using Power BI.

Business analysts, business users and data administrators can take advantage of this Customer Data Platform from Microsoft in many ways beneficial to your business.

To gain insights from your data, use Microsoft Power BI. You can use the solution in combination with Dynamics 365 Customer Service to strengthen customer service.

When you team up with experienced Dynamics 365 Consultants, they plan, design, and implement the solution in line with your business needs. The powerful capabilities of Dynamics 365 Customer Insights can turn prospects into customers, shorten sales cycles, improve customer lifetime value, and improve retention and loyalty.

Benefits in a nutshell

  • CDP helps gain complete view of your customers.
  • Empower your sales, marketing, and service professionals.
  • Derive insights using AI.
  • Full control of your business and customer data.

Why Microsoft Partners for implementing Microsoft CDP?

Choosing Microsoft Gold Partners for the deployment of Microsoft Customer Data Platform (CDP) offers various advantages:

Expertise: Microsoft Gold Partners will have knowledge and skills in Microsoft technologies and solutions, including CDP. Their expertise on the platform ensures more efficient implementation.

Access to Resources: Microsoft Partners have access to Microsoft’s technical support, training, and documentation, which can be vital in resolving glitches and keeping the system up to date.

Successful Track Record: They have a successful implementation record with many satisfied clients. Their experience is invaluable for financial institutions seeking a successful CDP implementation.

Customization: They have the expertise to customize the CDP implementation as per the unique needs and goals of the financial institution.

Best Practices: They follow Microsoft’s best practices for CDP deployment, ensuring the solution is configured properly as per the requirements.

Deploying an appropriate CDP plan is important. If your business is in any of the Asian, African, European or Middle East countries and you are excited to accelerate your business using Microsoft CDP capabilities, you can count on the expertise of Microsoft partners in UAE, Saudi Arabia, Oman, Qatar, Bahrain, Kenya, Germany, Canada, India, and Pakistan.

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