Why the financial services industry needs Microsoft Dynamics 365 solutions

The landscape of the financial services industry is always changing and becoming more competitive so it’s important to effectively manage customer relationships and internal software systems to drive growth and profitability. 

Amid the relentless challenges of 2020, the wheels of the financial services industry kept turning. The historic acceleration of digital technology during the pandemic enabled the financial services workforce to maintain its performance and quality services to its customers through new and improved ways. The crisis made the question of how “all-in” to go to the cloud all but moot. Digital transformation became less a choice and more of a necessity.

This is applicable for any firm or organisation within the financial services industry, which is a vast spectrum with subcategories such as accountancy, banking or even tax advisory. Wherever your business is positioned, it’s important to have an organisational platform that can help you adapt to your industry. Outdated technological strategies and internal systems can affect multiple business areas, from the internal workflow and processes, to the final product and through the delivered customer experience.

Microsoft Cloud for Financial Services is an end-to-end solution designed for even the most complex control frameworks and regulatory requirements. By integrating existing and new capabilities in Microsoft 365, Azure, Dynamics 365 and Microsoft Power Platform, Microsoft Cloud for Financial Services unlocks unprecedented value. A robust partner ecosystem extends the value of the platform with additional solutions to address the most urgent challenges the financial services industry is facing today.

At d365.Global, we can support you in utilising Microsoft Cloud for Financial Services to maximise the solutions it provides, such as: 

  • Multi-layered security and comprehensive compliance coverage
  • Scalability across the globe to deliver differentiated customer experiences
  • Improved employee collaboration and productivity
  • Risk management
  • Modernised core systems
  • Applying artificial intelligence to transform data insight into action

Powered by a common data model and tools for professional developers and citizen developers alike, Microsoft Cloud for Financial Services enables Microsoft’s partners and customers to easily add new value with extensions and additional solutions.

An integral solution you can utilise through the Microsoft Cloud for Financial services is Microsoft Dynamics 365. Dynamics 365 will enable your financial organisation to easily achieve that much-needed digital transformation and further improve your customer experience and internal processes.

There are multiple benefits in choosing Dynamics 365 for your organisation which include:

  • Improved customer experience
  • Fully authorised compliance
  • Having data integration and security in one platform
  • Optimised processes
  • Increased flexibility and collaboration

Dynamics 365 provides Microsoft solutions that are customisable, allowing you to tailor them to your business requirements and adapt in an ever-changing landscape. 

5 reasons to use Microsoft Dynamics 365 for your finance firm

With the constant and dramatic shifts in the financial services industry processes and customer expectations, Microsoft Dynamics 365 can support you in delivering fully integrated solutions that can be modified to your requirements in minutes, whether it’s to assist you in processing new contracts, improving compliance reports or even reviewing service performance analyses.

1. Dynamics 365 enables you to meet customer expectations

Customer needs are greatly influenced by external factors such as the economy and even social and political climates. People want a more personalised experience in financial services as well as quick and flexible payment options such as contactless mobile wallets and apps. 

Microsoft Dynamics 365 can give you real-time access to client data including their financial portfolio and transaction history, providing a comprehensive overview of their journey with your organisation. From here you can focus on leads based on revenue potential and growth in the sales cycle and deliver a personalised experience for each customer, to offer a smooth and transparent process that can build their trust and loyalty.

2. Dynamics 365 simplifies regulatory compliance

Adhering to compliance rules and guidelines in the financial services industry can be challenging when the laws are continuously being updated. On top of that, your organisation may still be utilising manual processes and attempting to link disparate systems, making it more challenging to keep up with the changes and maintain regulatory compliance.

Dynamics 365 can help maintain compliance by storing data in a secure and centralised database and streamlining the organisational and individual staff processes for regulatory compliance. This reduces human error and provides a safe working system to keep you up-to-date with current laws and regulations.

3. Dynamics 365 streamlines your data and account planning

Before the rise of technology, many organisations found it difficult to manage large, international clients across different products because the information was stored and accessed in multiple locations. Each department or division may have a slightly different spreadsheet template for each product, client and even region, preventing organisations from getting a unified view of the client database.

Even with technological growth and agility, this is still a glaring issue across the financial services industry with many firms and institutions still reluctant to transfer the majority of their data digitally, instead relying on legacy systems and manual filing and processing. 

The ERP solutions provided by Dynamics 365 can support you in organising and accessing your data in one place, enabling you to quickly find relevant information as well as develop financial analyses and business insights across departments and regions.

4. Dynamics 365 allows you to transition in a digital landscape

To stay competitive in the marketplace, it’s important to adapt to technological changes and develop a digital brand and flexible access strategy.

Aside from online and mobile banking apps, there is also cyber security to take into account and budget for.

Microsoft Dynamics 365 has the flexibility to integrate any existing systems and applications to maintain secure connections when sharing or receiving classified information, giving you a smooth transition to digitise your organisation. 

Growing businesses will also benefit from Microsoft solutions as it allows effective and efficient management of remote workers, even as teams and divisions diversify and evolve as your business grows. 

Dynamics 365 ensures that your services remain relevant to your customers, regardless of any technological disruptions ahead.

5. Dynamics 365 keeps you flexible and collaborative as an organisation

Microsoft Dynamics 365 is built for continuity and scalability, delivering customisable solutions that you can modify to your organisation’s requirements, regardless of the size or type of business. This is what makes Dynamics 365 a compelling all-in-one solution for every sector, including the financial services industry. 

Not only can Microsoft Dynamics 365 support you in improving your customer service and internal processes, the CRM solutions it provides can also encourage a more collaborative work culture within your organisation. It ensures that relevant departments such as sales and marketing can align business goals and develop KPIs together and track their progress. By developing a straightforward and transparent workflow with Dynamics 365, your staff members can be adaptable and agile, even in the face of setbacks or industry challenges.

The financial services industry is constantly influenced by economic, technological and global changes and disruptions. It’s important to consider that short-term stop-gaps might not be sufficient in coping with the evolving customer demands and highly digitised landscape. 

The flexible range of solutions offered by Microsoft Dynamics 365 can help you leverage unexpected situations and be a game-changer in the industry by targeting and aligning multiple areas of your organisation, such as improving your customer experience and simplifying the process of achieving regulatory compliance.

If you want to maximise the full potential of Microsoft Dynamics 365 in your organisation, contact us for more information.


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