How Cloud Technology Can Transform a Bank’s Customer Relationships

What is the best way to make solutions for the fintech sector meet the high requirements of challenging customers, especially while every bank is rushing towards digitization?

The answer to this question is to act on the newest trends and broaden institutional horizons regarding new facilities like cloud solutions. Ever-newer technologies are currently presented by various solution providers who are outdistancing each other in terms of innovation and practicality. Technology has not only become more prevalent but also portable – therefore it is necessary to develop services quickly to stay noticed among other offerings.

Smart solutions close at hand, every time and everywhere brought our attention to LiveBank, which recently announced cooperation with Microsoft and made available to its clients — global banks — the possibility of using cloud solutions.

The solution we mentioned is a technologically advanced Virtual Bank branch system, transporting almost all of the bank’s services to a remote server, preserving the possibility of direct interaction between the customer and the bank. This video, audio and chat omnichannel platform is supporting financial institutions with filling the gap between cost-efficient, self-care internet/mobile banking and branches that are rich in advice and effective in respect of conversion rate. The main features include, among others, Onboarding & Authorization (and as part of this: ID Verification, Biometrics, and Authentication during video and audio calls or text chat, even during Facebook Messenger chat, and more.)

Furthermore thanks to strengthening cooperation with Microsoft, LiveBank gained possibility to share and develop products, as a current trend of using computing power, disc space and set of services available directly in the cloud. At a glance, Microsoft Azure is a public cloud of unlimited capability that allows its users to access their resources and extra services, maintain applications and escalate data center capabilities. This kind of solution ensures its users with the facility of creating and launching apps without scaling eke managing them, leading projects on the international market.

So we can say this fintech solution – LiveBank – is now Azure-ready, and has been introduced to Microsoft’s domestic portfolio of co-sell products as a solution addressing virtual branch idea. Because it is being used worldwide, it’s a great convenience.

In addition to making every day’s work simpler, cloud solutions are also huge time-savers, both in day-to-day tasks and just as significantly, its short implementation period. Cloud not only provides endless possibilities for scaling, but also makes managing the work more pleasant. Such improvements should not be taken for granted, especially in case of big companies.