DYN365 Banking accelerator

10 reasons why you should use the Dynamics 365 Banking Accelerator


The demand for reduced hassle and personalized experiences has already made customer-centricity a priority on many financial institutions' agenda. But to create value with each customer interaction, financial firms need to re-assess their strategies and capabilities around gathering and understanding the data that underpin customer engagement. Customer interactions and data points are created every second, and financial institutions need to leverage this information to boost overall efficiency and productivity to enhance customer experience and build meaningful relationships with the customers.  

The Dynamics 365 Banking Accelerator empowers financial institutions with consistent, well-structured data that can be deployed across disparate systems to provide new insights and deliver outstanding customer experiences. In this article, let's take a look at ten of the top reasons why financial institutions and ISVs should use the Accelerator

1. It's free

The Banking Accelerator extends Microsoft's Common Data Model (CDM) to include concepts for retail banking and commercial banking and is offered free for all financial services customers and partners on Microsoft AppSource. It is provided under an open source creative license, available on GitHub, and there is no additional licensing requirement for any part of the accelerator. And the Banking Accelerator comes with sample apps and dashboards that can be installed in D365, Power Platform and Azure Data Lake Storage. This gives the opportunity to understand how the Accelerator works before applying that knowledge and start building banking industry-specific applications.

2. Built with industry expert partners

Microsoft has built the Banking Accelerator in collaboration with industry partners including VeriPark, Fiserv, and Wealth Dynamix, creating it in-line with the open standards defined by the Banking Industry Architecture Network (BIAN). The partners shared their industry-specific expertise and knowledge with Microsoft to help building a common data structure on top of D365 Customer Engagement.

3. Build solutions and add additional capabilities quickly and easily

By using the banking data model, ISVs can easily build new innovative and powerful solutions themselves and quickly bring them to the market. They can also add features in areas like artificial intelligence and customer experience management.

4. Reuse data in different apps

The Banking Accelerator helps to provide a unified view of the data across sources. It enables customers and partners to easily extend and build different banking applications on the same data model while improving processes and insights. It simplifies the process of storing data and running analytics across different platforms such as D365, Power BI and Azure Machine Learning Service.  

5. Learn from the sample apps and dashboards on GitHub

The Accelerator contains sample apps and dashboards that are available on GitHub to show customers and partners how easy it is to develop new apps and solutions.  These include:

  • Sample Power BI dashboards that support data modeling and visualization
  • Sample model-driven apps to demonstrate how D365 and the banking data model can be used for customer engagement
  • Know Your Customer (KYC)
  • Onboarding
  • The sample Proposal Manager app built on the Microsoft 365 platform, which helps corporate and commercial banks to streamline and automate the lending process and create great proposals.

6. Stay up to date with the new D365 releases

The first version of the Banking Accelerator became available on July 16, 2019. Following the general availability of the Accelerator, Microsoft has released an API sample implementation on GitHub for interoperability with the BIAN API service domains in September. In addition to that, Microsoft released an update to Banking Accelerator on AppSource bringing additional use cases for retail banking. The Accelerator will be kept up to date by Microsoft and evolve with the new D365 releases which will continuously empower partners and customers to build accessible and open solutions.

7. As a customer, take advantage of solutions already built to work on the Accelerator

Customers using the Banking Accelerator can also take advantage of additional innovative ISV solutions that are built on this accelerator and use the same common data model.

8. As a partner, use the banking data model to build your own ISV solution

There is a large window of opportunity for partners using the Accelerator to quickly create their own transformative solutions that can work together. Since the Accelerator comes with a ready-made platform and data model, partners can actually build apps in a matter of days.

9. As a partner, do a demo to a bank

By using the Banking Accelerator, partners can easily demonstrate the banking-specific data model and out-of-the-box solutions that can be used to improve business processes, speed up development and deliver meaningful customer insights. When bank employees are powered by the relevant data, they are more able to offer engaging personalized interactions.

10. Test drive the Banking Accelerator

The Banking Accelerator, including data samples and Power BI examples is available with a single click on AppSource and GitHub where you can easily "test drive" for eight hours and discover how easy it is to build and integrate apps and processes while gaining powerful insights. This is a perfect way for financial institutions to stand out from the crowd, enhance their customer acquisitions and build loyalty.

More information about the Banking Accelerator in Microsoft's whitepaper:
"Transform Banking with the Microsoft Banking Accelerator"

VeriPark uses Dynamics365 and the Banking Accelerator