Tuesday 17 January 2017

Microsoft Works on Bringing in a New Era for Financial Services Industry

Banking and financial services industry are heavily dependent on the new-age digital technology for further progress. Microsoft is one of the many tech companies intimately involved with the concurrency sector facilitating the development of block chain technology for financial applications.



In its recent blog post, the company has offered details about the participation of Satya Nadella, CEO of Microsoft Corporation in the Fin tech Ideas Festival. The event held between January 9 and 10, 2017 in San Francisco saw the participation of some of the leading names in the technology and financial service industry.

The discussions in Fintech Ideas Event revolved around the potential uses of latest technologies in the field which hasn’t changed much in the past decade. The forces driving financial services towards a new era include cloud-based solutions, artificial intelligence and block chain technology.

The blog mentions Microsoft’s role in ushering a new era for fintech. The company’s products and services are currently used by the likes of Met Life, Emirates National Bank of Dubai, Society General, Bank of America Merrill Lynch and Mementos. Microsoft’s Azure cloud services is a common factor among all these companies.

Met Life and Emirates National Bank of Dubai are using Azure, its Machine Learning component and Microsoft Dynamics to improve customer experience and relationship. On the other hand, Bank of America Merrill Lynch is using the company’s Block chain as a Service to automate various processes.

For More Information :- Gautham

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