Cloud computing and AI were most preferred services of BFSI sector in 2017: Microsoft

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Cloud ComputingContributing to a lot of success and convenience Cloud computing and Artificial Intelligence (AI) has emerged as the most picked up technologies in the Banking, Financial Services and Insurance (BFSI) sector in India during 2017, said Microsoft.

“The year 2017 witnessed a revolution in the BFSI sector as far as technology integration is concerned. A digital culture shift, designing a modern workplace that harnesses digital intelligence and enabling mobility are key aspects of it,” said Microsoft.

These self-service technologies have enabled the partners and consumers in performing their task conveniently thus, drastically reduced the servicing cost for enterprises and improved customer satisfaction.

Technology giant Microsoft also launched Kaizala, a mobile app and service for Android, iOS and Windows phones, designed exclusively for large group communication and work management.

The app works in coordination with the entire value chain, including field employees, vendors, partners and customers.

As per the details, Cloud offered enterprises with its unique advantages exclusively on three levels, making banks responsive by frequently upgrading to cloud-based technology, centred on user adoption by recognising the used cases based on work profiles and transforming business by process alignment with the new tools, all of which together ultimately enhanced, both branch and customer experience.

The report further revealed that AI transformed both front and back office operations along with its self-improving programmes.

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