Power Platforms with Azure in the Financial Business

The Microsoft power platform is a set of tools and services rolled out by Microsoft to enable organizations to transform their operations and drive their digital transformation. It is a no-code/low-code set of applications and services that can help an individual create custom applications, automate workflows, virtual agents or built chatbots, custom visuals and analyze data without extensive coding. This was also help in embracing digital transformation and complete the work with more efficiency and deliver value to their shareholders.

At its core, there are four main Power Platform consulting services which are listed below:

Power BI- A business analytical tool
Power Virtual Agents and intelligent virtual chatbots
Power Apps- for no/low code apps
Power Automation- for automated workflows

Microsoft Power BI

This is the power platform's business analytic tool. It will help a user to interact and consolidate data and derive insights. It is extremely helpful in sharing and promoting insights across the organization and you can infuse those insights in making informed decisions regarding the business through reports and dashboards.

Through Power BI consulting services, one can consolidate and interact with large data for teams to glean insights and make real-time decisions because the managers can monitor real-time performance and will make the process more optimized and minimize downtime.

With Power BI the individuals and teams within the organization can easily share the reports and dashboards

Power Virtual Agents and intelligent virtual chatbots

Power Virtual Agent (PVA) allows you to build intelligent chatbots and virtual assistants to interact with the users naturally. It can do everything that a human can more smartly. It can seamlessly help the user with their problems whether it’s a simple or a complex one.

With PVA you can enhance customer support because through chatbots you can provide instant response to a wide range of customers and increase customer satisfaction and loyalty.

This will decrease the cost as well because everything which needed to be done manually can now be done easily by a AI virtual assistant.

Analytics and Insights you can improve and fix bugs of the chat bots making the conversation more human-like and customer-friendly.

Microsoft Power Apps

This is where the journey of custom applications begins. Power Apps helps you build custom applications with low or without code. This will enable individuals to streamline the process and help them consolidate data to make workflows more efficient.

Power Apps is time saving because it customizes apps without or low coding saving hours of development time.

They are cost minimizing because lower the development time lower the cost

Apps created with power apps are compatible with various platforms like mobile devices, tablets, web browsers making them cross-platform compatible.

Microsoft Power Automate

Power automation formerly known as Microsoft Flow is all about automating processes and workflows. It reduces manual and repetitive tasks making the workflow more optimized and efficient. It also enables you to connect to different systems together, take the data, and translate it. It also allows you automate and build business process across your apps and services that you have already deployed to put an end to the repetitive tasks one needs to perform.

It streamlines the process as it takes care of the mundane and repetitive tasks and helps the employees to focus their efforts on crucial and productive tasks.
It enables you to design an intuitive, visual interface. One can connect to various actions and conditions to create an automated process.
Automation and compatibility with multiple services such as Microsoft, Outlook, Sharepoint and more enabling automated tasks across platforms.

Microsoft Azure App Services and the Financial Sector

Microsoft Azure App Services is a suite of capabilities of Dynamic 365 applications via the power platforms admin centre. Listed below are the ways to include power platforms in the financial sector:

Global Contact management- The financial sector use a traditional method of handling their clients. They view their clients as accounts and not as individuals and act accordingly. With Power platforms Dynamic 365 customer insights they can build a more customer-centric model by enabling the company to build that can connect over 300 different data sources.

Benefits of using Power Platforms in the Fintech industry:

Streamline operations and reduce manual errors with automated workflows.
Enhance decision-making with real-time data analytics and insights.
Boost productivity by integrating with existing financial systems seamlessly.
Accelerate innovation with customizable low-code/no-code solutions.
Improve customer experiences with personalized, data-driven interactions.
Ensure compliance and security with robust governance features.
Optimize financial processes with predictive analytics and AI capabilities.
Facilitate collaboration across departments with unified data access.
Reduce development costs and time with rapid app deployment.
Adapt to market changes quickly with flexible and scalable solutions.

Conclusion:

Employing Power Platforms alongside Azure in the financial sector offers significant advantages. By automating processes, improving decision-making with up-to-date information, and seamlessly integrating with current systems, financial organizations can enhance efficiency and minimize mistakes.

Here is what we have gone through!

The use of low-code/no-code solutions speeds up progress and enhances customer satisfaction with tailored interactions.
Strong governance measures guarantee adherence to regulations and security, while predictive analytics and AI enhance financial operations.
Access to unified data promotes teamwork, reduces development expenses, and enables quick adjustments to market shifts.

Embrace the capabilities of Azure-connected Power Platforms to boost productivity, creativity, and expansion within your financial enterprise.