The challenges facing advisory services businesses in today’s financial services industry are mounting. A downturn in fee generating activity, lost customer loyalty, increased regulatory oversight and customer demands for a consistent real-time service across multiple channels, continues to put pressure on wealth managers, sell-side capital markets firms and insurers alike. Financial institutions require deeper customer insight to identify profitable customer segments and ultimately execute on a highly relevant trusted relationship to drive customer acquisition and retention. At the same time they are striving to differentiate themselves by providing customers with a seamless and consistent experience across channels, while unlocking the power of data to differentiate that customer experience. Financial institutions also need to streamline the regulatory, actuarial and marketing processes involved in creating new products and respond quickly to market movements and new market entrants.
However, advisors are often burdened with disparate silos of information from multiple applications, legacy systems and reference data providers. This leads to inefficiencies and less time with customers. Advisors need integrated client data, applications and workflows in a 360-degree portal environment to drive new revenue opportunities. Also, at a time when we have an explosive growth of structured and unstructured ‘Big Data’, the ability to manage that data is paramount.
Microsoft provides an easily customizable, scalable platform that can integrate with existing systems to empower advisors with real-time access to integrated client and industry data, along with applications required to identify profitable customers, provide superior financial advice and execute on cross-sell and up-sell opportunities. This includes suite of tools that allow advisors to analyze existing customer and market information and present it in a manner that makes it intuitive for customers to understand. Microsoft advisory services solutions also streamline processes, data and content flow between sales, marketing and product groups – enabling them to respond rapidly to market, customer and regulatory changes. Microsoft has powerful workflow, business process management, content management, search and data integration tools to provide financial institutions with the ability to perform continuous re-engineering to achieve optimal operational and growth efficiencies.