Microsoft has recently announced the private preview of the Microsoft Dynamics 365 Banking Accelerator which is a solution released to sit on top of an existing Dynamics instance and assist with day-to-day banking operations. The solution has been split into both Retail and Commercial banking and can be implemented with one or both solutions installed into an existing instance. The Accelerator contains installable solutions that include standard entity attribute extensions, new banking entities, pre-built dashboards, workflows, sample data as well as other tools to help customers and partners build and deploy new banking solutions.
What is in there for banks and ISVs?
With the Banking data model, there is no need to build various models and structures for each app. It simplifies data management and empowers ISVs to build solutions on top of a unified data layer.
The accelerator is designed to help developing banking solutions in both retail and commercial spaces and transform customers' banking experiences. By using the accelerator, banks can cut down their development time, access to best-practice and standardized data model and quickly create powerful apps. They can also gain new customer insights and transform transactional and Omni-Channel data into a data set for superior customer experience management.
VeriPark & Microsoft Collaboration
Thanks to the track record of successful digital transformation projects in different countries, VeriPark's Banking Data Model has matured and evolved over the last 20 years. It became a world-class, field-proven technology that is used by over 100 banks worldwide. VeriPark has shared its industry-specific proven expertise & deep knowledge with Microsoft to help building a common data structure for Financial Services Industry (FSI) on top of Microsoft Dynamics 365 Customer Engagement. By using the foundation of VeriPark's Banking Data Model for a defined set of functionality, Microsoft has created an open source model checked by industry specialists such as Bian and Fiserv.
"We are excited to partner with Microsoft on the development of a data model designed for the needs and business processes of banks and financial institutions. VeriPark is committed to helping define the model and deliver our solutions atop the new Banking Accelerators. The new Banking data model allows VeriPark to have a consistent and defined data structure to generate insights and actions to help our joint customers become digital leaders by improving their customer experience and retention." says Ozkan Erener, CEO VeriPark.
Banking accelerator as a starting point for digital transformation
"We believe that Common Data Model and the business applications & accelerators built around this model will be a great starting point for banks' digital transformation journeys." says Gokhan Cakiroglu, CTO VeriPark.
VeriPark and Microsoft work side by side to deliver innovative and truly transforming customer journeys for their clients in FSI. VeriPark is proud to be part of the Common Data Model initiative for Banking and it will continue to collaborate with Microsoft and bring its know-how to the table to accelerate digital transformation for financial institutions.
Would you like to find out more? If so, get in touch with us!