Digitization is proceeding at a rapid pace, and this is certainly true for the financial services sector as well.
Banks and insurance companies are actively seeking innovative solutions to:
- modernize and automate operational processes;
- to derive actionable customer insights from ‘big data’;
- to provide personalized, omnichannel customer experiences.
Microsoft Dynamics 365 has already proven its value as a technology to help financial institutions with that digital transformation.
With the Dynamics 365 Accelerator for Financial Services Customers and Microsoft partners can get started quickly and build industry-specific solutions on top of Microsoft Dynamics 365 and the Microsoft Power Platform. The accelerator includes sample applications, business processes, and dashboards specifically designed for banks and insurance companies.
The Financial Services Accelerator consists of the following:
- Banking Accelerator
- Insurance Accelerator (NEW – Preview)
Banking Accelerator
With the Banking Accelerator, banks and developers can quickly create solutions that deliver a better banking experience—solutions that drive customer acquisition, loyalty, and long-term relationships .
The Accelerator includes a specific banking data model. This data model is an extension of Microsoft’s powerful Common Data Model, incorporating bank-specific data such as loans, mortgages, referrals, branch information, credit lines, commercial deals, and much more. A key and powerful advantage is that the data model is compatible with the Banking Industry Architecture Network (BIAN) and Open Banking. This enables banks to share bank-specific data more easily, seamlessly, and consistently across different systems.
In addition, the Accelerator also offers sample apps, common workflows, and (Power BI) dashboards, which you can also integrate with other Microsoft business applications and productivity tools.
The Banking Accelerator is available on AppSource and GitHub.
Insurance Accelerator
The insurance component has recently been added to the Financial Services Accelerator and is currently still in Preview. This means that customers can get early access to it and provide feedback to help improve it.
The Insurance Accelerator also includes a data model, but then specifically for the insurance industry. There are entities for insurance policies and coverage, policy documents and terms and conditions, insurance products, insured assets, approvals, claims, exclusions, agencies, contracts, etc.
The Accelerator includes turnkey solutions for policy management, claims, customer onboarding, and customer service. It also offers Power BI dashboards about policies, claims, and future agreements. With Microsoft Power Apps and the Power Platform, you can customize the data model and the application to meet your requirements.
If you want the Accelerator Use with other Dynamics 365 apps, then of course that's also an option. For example, you can use the Dynamics 365 Customer Service app to provide service representatives with a handy overview.
Example: “Customer 360”
Example: “Agency” Dashboard
