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How to leverage data to strengthen customer loyalty in Financial Service Industry 

With growing customer expectations, the landscape of modern banking has changed drastically in the past few years. The customers expect that their financial service institutes should deliver digital-forward, frictionless, and highly relevant experiences across multiple channels. With Microsoft Dynamics 365 applications, Financial Service Institutes can deliver out-of-box customer experience. Unified data alongside built-in intelligence empowers organizations to conduct their business processes with more accuracy, forge better collaboration while delivering more personalized customer experiences.

How to leverage data to strengthen customer loyalty in Financial Service Industry

Enabling intelligent service that keeps customers coming back

Dynamics 365 Business Applications unify data from the disparate sources, providing you a single view of customers. By deriving actionable insights, financial service organizations can easily and efficiently deliver personalized engagements through self-service capabilities, and solution based-offerings. Built-in intelligence and machine learning enables you to gain useful insights from transactional, observational, and behavioral data, based on which organizations can provide customers with the fast, intelligent, and personal services, they are expecting. With comprehensive data insights and analytics, Financial Service Organizations can easily understand individual needs and actions of the customers, based on which they can provide right offer or service to the right client at the right time.

Strengthening trust and reducing churn

Customers need the safety of their financial data. For Financial Services Organizations, it is necessary to include anomaly and fraud detection in their efforts to strengthen client loyalty and retention. Microsoft’s built-in AI enables organizations to analyze customer data in search of suspicious or unusual activity. Microsoft Business Applications use transactional data to train machine learning models and detect linkages of fraud that occur across all merchants in the fraud protection network. Furthermore, Microsoft controls and owned fraud protection network and doesn’t cause data to be revealed to other merchants or external entities.

How a customer data platform can help?

Dynamics 365 Business Applications bring structured (e.g., client profiles, historical information) and unstructured (e.g., archived email correspondence, agent notes, etc.) data from disparate sources to centralized database. With products like Microsoft Dynamics 365 Customer Insights, organizations can get a truly 360-degree view of their customers, unlocking insights that power personalized authentic engagement at every touch point. As a master database of your customers and their interactions with your brand, Dynamics 365 for Customer Insights enables you to have useful insights of customer interactions from multiple-touch points like social media, in-store visits, online reviews, and much more.

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