Following Sibos 2023, we continue to build momentum in financial services thanks to our global partners who are bringing innovative new solutions to the market. At this year’s event, we focused on opportunities in the realm of generative AI, with special emphasis on four key areas within banking, payments, trade finance, financial risk and crime, and working capital. The latest AI innovations of the Microsoft Cloud, together with solutions from our global partner community, are helping both commercial and corporate banking customers move into the future.
Microsoft Cloud for Financial Services is unlocking new value for customers and helping partners deepen customer relationships. At Sibos 2023, we were proud to highlight the work of independent software vendors (ISVs), including Finastra, Intellect Global Transaction Banking (iGTB), LSEG, Symphony AI, Temenos, Trade Ledger, Traydstream, VeriPark, and Zafin, as well as global systems integrators (GSIs) like Accenture–Avanade and PwC. Each of these partners has done amazing work to create, implement, and enhance solutions tailored to the requirements and needs of financial services organizations.
Unlock business value and deepen customer relationships.
This year, groundbreaking generative AI projects from our partners are proving the value of investing in new solutions.
To explore new opportunities for payments, iGTB has showcased how they extract transactional insights from payment flows, opening up new horizons for the industry. In the complex domain of trade finance, Traydstream is addressing complexities head-on through the digitization and automation of trade processing, seamlessly integrating Microsoft technologies with their AI-powered platform. Finastra is modernizing its trade platform through a full microservices architecture using Microsoft Azure, that will give banks increased agility, flexibility, and scalability, enabling them to continue to provide service excellence to customers throughout their modernization journey.
In the realms of financial risk and crime, Symphony AI, ASC Technologies, and Temenos are forging innovative solutions to enhance security. Temenos, specifically, is combatting money laundering while facilitating secure international payments. Symphony AI is using generative AI to power-up investigative processes and teams. And Trade Ledger is using generative AI to create new channels for commercial banks and support working capital management decision making across small and medium-sized businesses.
Amid the array of innovations showcased at this year’s event, we also presented demonstrations of an integrated copilot experience tailored for asset management. This new user journey spans analytics, workplace services, and data intelligence, offering a comprehensive and dynamic experience.
Microsoft responsbile ai
The partner ecosystem for Microsoft Cloud for Financial Services continues to grow and evolve with continued innovation with Microsoft technologies. As applications of AI capabilities rapidly expand, our financial services partners are finding new ways to build customer trust with responsible AI, meet customer demands, offer transparency, and deliver groundbreaking solutions that drive industry best practices forward.
“Customers are eager to transform their trade finance and supply chain offerings, and to access the latest innovations, working with partners across the ecosystem. Partnering with Microsoft builds on our joint strategic vision to help accelerate the digital transformation of financial services, and support customers on their journeys.”
—Isabel Fernandez, Executive Vice President for Lending at Finastra.
Through powerful partnerships, organizations can bring innovations to their customers, faster than ever.
Microsoft Azure OPen ai service
And at iGTB, Chief Executive Officer Manish Maakan says that, together with Microsoft, they are “piloting a roadmap that unlocks the potential [of] artificial intelligence in financial services and seeks to showcase the transformative capabilities of Microsoft Azure OpenAI Service in the commercial banking space.”
According to Craig Ramsey, Head of Real-Time Payments at ACI Worldwide, “By hosting ACI’s Real-Time Payments Cloud in Microsoft Azure, financial institutions will now have access to an award-winning, end-to-end solution to enable their processing of 24/7 payments.” This provides simplicity of operations and promotes interoperability.
Discover the optimal technology solution for your organization through our array of ISV, system integrator (SI), and advisory partners.
Our financial services partner ecosystem remains dedicated to empowering our customers, enabling them to provide exceptional customer experiences, streamline their operations, and explore new avenues for growth. Our commitment includes ongoing investments in flexibility and extensibility within Microsoft Cloud for Financial Services, fostering the expansion of our partner network.
To continue providing the capabilities our partners need, Microsoft announced a set of new solution partner designations under the Microsoft AI Cloud Partner Program (MAICPP) at Microsoft Inspire 2023. These designations certify that our partner solutions are optimally built on Microsoft Industry Clouds to deliver their solutions.
We eagerly anticipate announcing more ISV partner solutions in the coming months as part of this program. We look forward to welcoming our industry partners.
As financial institutions embrace cloud technology, they unlock numerous benefits. This includes harnessing standardized data models for innovative business paradigms, customer-centric experiences, and future growth. They also explore AI integration with confidence in Microsoft Cloud’s secure solutions.
In this AI-driven era, we’re deeply committed to advancing together with our partner community. We’ll build on innovations, work closely with financial services partners to identify use cases, and explore generative AI and large language models (LLMs). Microsoft Cloud for Financial Services partners can create novel solutions and elevate existing ones, leveraging the Microsoft Cloud platform. This collaborative effort is about more than just business; it’s about empowering our end customers to achieve a smarter, more interconnected future in financial services—delivering distinctive and exceptional value.
For more inspiring partner news and engagement opportunities, look for Microsoft and our partners at Money 20/20 and InsureTech Connect (ITC), where you can go deeper into AI innovations built on Azure OpenAI Service and our copilot offerings.
The post Shaping the future of financial services: Microsoft partners at Sibos 2023 appeared first on Microsoft Industry Blogs.
Source: Microsoft Industry Blog