Tag Archives: Banking

Two seconds to take a bite out of mobile bank fraud with Artificial Intelligence

The future of mobile banking is clear. People love their mobile devices and banks are making big investments to enhance their apps with digital features and capabilities. As mobile banking grows, so does the one aspect about it that can be wrenching for customers and banks, mobile device fraud. 

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Problem: To implement near real-time fraud detection

Most mobile fraud occurs through a compromise called a SIM swap attack in which a mobile number is hacked. The phone number is cloned and the criminal receives all the text messages and calls sent to the victim’s mobile device. Then login credentials are obtained through social engineering, phishing, vishing, or an infected downloaded app. With this information, the criminal can impersonate a bank customer, register for mobile access, and immediately start to request fund transfers and withdrawals.

Artificial Intelligence (AI) models have the potential to dramatically improve fraud detection rates and detection times. One approach is described in the Mobile bank fraud solution guide.  It’s a behavioral-based AI approach and can be much more responsive to changing fraud patterns than rules-based or other approaches.

The solution: A pipeline that detects fraud in less than two seconds

Latency and response times are critical in a fraud detection solution. The time it takes a bank to react to a fraudulent transaction translates directly to how much financial loss can be prevented. The sooner the detection takes place, the less the financial loss.

To be effective, detection needs to occur in less than two seconds. This means less than two seconds to process an incoming mobile activity, build a behavioral profile, evaluate the transaction for fraud, and determine if an action needs to be taken. The approach described in this solution is based on:

  • Feature engineering to create customer and account profiles.
  • Azure Machine Learning to create a fraud classification model.
  • Azure PaaS services for real-time event processing and end-to-end workflow.

The architecture: Azure Functions, Azure SQL, and Azure Machine Learning

Most steps in the event processing pipeline start with a call to Azure Functions because functions are serverless, easily scaled out, and can be scheduled.

The power of data in this solution comes from mobile messages that are standardized, joined, and aggregated with historical data to create behavior profiles. This is done using the in-memory technologies in Azure SQL.  

Training of a fraud classifier is done with Azure Machine Learning Studio (AML Studio) and custom R code to create account level metrics.

Recommended next steps

Read the Mobile bank fraud solution guide to learn details on the architecture of the solution. The guide explains the logic and concepts and gets you to the next stage in implementing a mobile bank fraud detection solution. We hope you find this helpful and we welcome your feedback.

Saxo Bank and Microsoft partner to shape the future of cloud services in the financial industry

Saxo Bank aims to run its entire banking platform on Microsoft Cloud, thus providing an agile and highly secure environment for the bank to accelerate its digital journey and democratize financial services

REDMOND, Wash., and COPENHAGEN, Denmark — April 24, 2018 — On Tuesday, Microsoft Corp. and Saxo Bank announced a strategic partnership with the aim of running Saxo Bank’s entire technology stack on the Microsoft Cloud.

Financial services are at a transformational tipping point. It is key for financial organizations to harness data and cloud services as a strategic asset, shifting from hindsight to foresight closely hinged on security, privacy and regulatory compliance. With the partnership, Saxo Bank aims to lead at the forefront of technology developments in the financial industry.

Saxo Bank is a leading fintech specialist focused on multiasset trading and investment, servicing clients in more than 170 countries with access to investments in global capital markets and headquartered in Copenhagen, Denmark. Saxo Bank delivers “banking-as-a-service,” allowing other banks and brokers to leverage Saxo Bank’s technology and global capital markets access. Expecting the number and scale of partnerships to grow significantly, Saxo Bank has decided to leverage the Microsoft Cloud to ensure scalability, flexibility and security in the digital infrastructure.

“The future of financial services is cloud based, and by partnering with Microsoft we take part in shaping this future. Saxo Bank was a fintech long before the term was created, and it is a natural step for us to also pioneer cloud-based solutions in financial services,” said Kim Fournais, founder and CEO, Saxo Bank. “By leveraging the Microsoft Cloud, we can spend more time on developing technology and less time on running it, allowing us to continue to stay at the forefront of client-focused digitization and support our ambitious growth plans.”

A trusted platform is the foundation for running financial services in the cloud, and organizations — like Saxo Bank — that continuously develop to stay at the forefront of technology will become the digital leaders of the future and maintain their competitive edge.

“We are excited to help Saxo Bank shape the future of trading and investment on our cloud platform,” said Judson Althoff, executive vice president, Worldwide Commercial Business, Microsoft. “Saxo Bank is at the forefront of fintech, and our partnership will enable financial service organizations to securely harness data to better serve their clients.”

“We are proud to break new ground together with Microsoft and look forward to be working with key stakeholders such as regulators to ensure that cloud solutions continue to evolve and support the high regulatory standards that define the financial industry,” Fournais said. “At an early stage, we saw opportunities in using [the internet and] digital solutions to differentiate ourselves. Since we launched one of the first online investment platforms in 1998, we have been a Microsoft house, as such the Microsoft cloud is a natural fit for Saxo Bank.”

Today, Saxo Bank supports more than 120 White Label partnerships globally. Through its unique trading and investment technology, Saxo Bank facilitates access to more than 35,000 financial instruments across multiple asset classes.

About Saxo Bank

Saxo Bank Group (Saxo) is a leading fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients. For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.

As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS). Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.

Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a fintech even before the term was created. Headquartered in Copenhagen, Saxo Bank today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

For more information, press only:

Microsoft Media Relations, WE Communications for Microsoft, (425) 638-7777, [email protected]

Microsoft Denmark, Helle Rosendahl, Senior Communications Advisor, +45 22409540,

[email protected]

Saxo Bank, Steffen Wegner Mortensen, Head of PR and Public Affairs, +45 3977 6343, [email protected]

 

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://news.microsoft.com. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://news.microsoft.com/microsoft-public-relations-contacts.

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MalwareTech arrested for Kronos banking Trojan connection

The FBI detained and arrested a security researcher who allegedly created the Kronos banking Trojan.

Martin Hutchins, also known as “MalwareTech,” was arrested in Las Vegas following the DEFCON 2017 conference after what the FBI said was a two-year investigation. Hutchins, a UK citizen, gained notoriety during the WannaCry ransomware outbreak when he and fellow security researcher Matt Suiche found hardcoded command-and-control servers in the WannaCry code. The two researchers registered the C&C domains and effectively broke the ransomware.

However, the U.S. Department of Justice alleges that Hutchins, who also works for cybersecurity vendor Kryptos Logic, was one of two people behind the Kronos banking Trojan.

“Hutchins was charged with one count of conspiracy to commit computer fraud and abuse, three counts of distributing and advertising an electronic communication interception device, one count of endeavoring to intercept electronic communications, and one count of attempting to access a computer without authorization,” Gregory J. Haanstad, U.S. attorney for the eastern district of Wisconsin, wrote in a statement. “The alleged conduct for which Hutchins was arrested occurred between in or around July 2014 and July 2015.”

According to the indictment obtained by CNN Tech, the FBI claims Hutchins created the Kronos banking Trojan, a co-defendant (name redacted) released a video demonstration of the malware on July 13, 2014, Hutchins and the co-defendant updated the Kronos banking Trojan in February 2015, and then the co-defendant posted and sold the Trojan on the AlphaBay darknet marketplace in mid-2015.

AlphaBay was seized and shut down by the FBI and DEA in the early July and European law enforcement used that closure to lure users to the Hansa darknet market, which was also shut down last month.

However, because Hutchins tweeted on July 13, 2014, asking for a malware sample of the banking Trojan, Jake Williams, founder of consulting firm Rendition InfoSec LLC in Augusta, Ga., said on Twitter that “it doesn’t add up that he wrote it in 2014 and asked for a sample of it in the same time frame.”

The news of Hutchins’ arrest was first reported by Motherboard, which wrote that Hutchins was first detained at the Henderson Detention Center in Nevada.

Andrew Mabbitt, a friend of Hutchins and founder of Fidus Information Security, said on Twitter that he initially didn’t know where Hutchins had been taken, but ultimately found him at the FBI’s field office in Las Vegas. Mabbitt also said the Electronic Frontier Foundation has arranged legal representation for Hutchins.

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Microsoft Dynamics CRM redefines sales productivity for businesses today

REDMOND, Wash. — Oct. 8, 2014 — Microsoft Corp. (Nasdaq “MSFT”) on Wednesday announced that it will offer a new Sales Productivity solution that combines Microsoft Dynamics CRM Online Professional with Office 365 and Power BI. This powerful combination gives sales professionals the leading productivity tools that work seamlessly with business applications to enable them to do more and achieve more. The new solution will be offered to customers at a promotional price of $65 per user, per month. Existing users of Office 365 can upgrade to the Sales Productivity solution for $45 per user, per month. This is almost 50 percent lower than comparable offerings in the industry. This offer is available in all markets worldwide where Microsoft Dynamics CRM Online, Office 365 and Power BI are available, starting Wednesday.

Productivity is an important component of any business applications offering, and that is especially critical for sales organizations where people need to quickly respond to customers’ needs. By combining Microsoft Dynamics CRM Online, a recognized leader in CRM, with Office 365, the leading productivity solution in the market, Microsoft is empowering people to work across their entire enterprise and beyond with partners and customers directly. And by bringing Outlook, Lync, Skype and Yammer for social collaboration into the Microsoft Dynamics CRM Online experience, the company is enabling true sales productivity for customers.

“The importance of combining powerful productivity tools with business applications is something that Microsoft Dynamics has recognized all along — indeed it is core to our strategy,” said Bob Stutz, corporate vice president, Microsoft Dynamics CRM. “We have been building our products to work seamlessly together from day one, and this new offering makes it even easier for our customers to benefit from this combination of solutions today: Microsoft Dynamics CRM plus Office 365 plus Power BI is a winning bet.”

Customers are already benefiting from the power of Microsoft Dynamics CRM Online with Office 365 and Power BI analytics. Businesses are choosing Microsoft Dynamics CRM Online over competing vendors for its ability to work seamlessly with Office 365 along with its world-class and intuitive process-driven user experience and real-time insights through easy-to-use tools that empower users to get the answers they need.

Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd., one of the world’s leading organizations of independent audit, tax and advisory firms. Grant Thornton chose Microsoft’s Sales Productivity solution over Salesforce.com to enable the firm to offer its clients something the competition cannot — personalized service and closer relationships.

Grant Thornton has revenue in excess of $1.3 billion with more than 500 partners and 6,000 employees and has seen some incredible results. One of its key goals as a business was to increase team collaboration among its sales associates. With Microsoft solutions in place, Grant Thornton has seen a 700 percent increase in the number of contacts in its system over the legacy solution and a 450 percent increase in the number of opportunities. That translates to five-and-a-half times more deals managed in the firm’s system. With Microsoft, Grant Thornton’s sales teams are able to easily identify trends affecting their customers so they can proactively reach out to them. The sales teams’ pipeline has increased, their win rate is 39 percent higher and, most impressively, their average win value has increased by 36 percent. Not only are they closing more deals, those deals are significantly larger. These insights into client demand “make very smart people even smarter, which creates a more personalized client experience,” said Rick Stow, head of Client Relationship Management at Grant Thornton.

CSX Transportation, a business with more than 31,000 employees, $12 billion in annual revenue and 21,000 miles of railway in 23 states across the United States and two Canadian provinces, also selected Microsoft Dynamics CRM. More than 1,300 people at CSX Transportation use Microsoft Dynamics CRM on a day-to-day basis, and the company has seen improvement in its productivity, collaboration, ability to identify new business opportunities and relations with customers.

“Now, all related customer information is available in one solution, helping people collaborate more effectively across the company,” said Vicki Burton, director of CRM for CSX Transportation. “And having a single tool to manage much of their day-to-day work has also meant a boost to productivity for CSX staff. Before Microsoft Dynamics CRM, people had to go to multiple systems to get the information they needed. Now, they just go to one.”

Metro Bank was founded on a simple precept: to offer the best customer experience, how, when and where the customer wants it. It chose Microsoft Dynamics CRM, Office 365, Yammer and Power BI analytics to give its people the apps they need to support the personalized interactions that are the hallmark of its business and to be operationally flexible. For a company like Metro Bank — where customer experience is everything — Microsoft Dynamics CRM with Office 365 has been essential to its business.

Microsoft partners around the world, including Microsoft 2014 Global CRM Partner of the Year Hitachi Solutions, continue to see success with Microsoft Dynamics CRM.

“While many of Hitachi Solutions’ customers are already using Microsoft Dynamics CRM Online, Office 365 and Power BI in combination, this new solution, which is simple, powerful and affordable, is a perfect opportunity for companies looking to boost their sales productivity,” said Mike Gillis, chief operating officer, Hitachi Solutions America. “In fact, many of our successes come from helping clients migrate off alternative cloud-based solutions, which promise low monthly fees but frustrate customers when they receive a bill for over double that amount.”

PowerObjects, a top Microsoft Dynamics CRM partner, has grown its business by over 1,000 percent in the past six years as a result of picking Microsoft over Salesforce.com. It expects to add thousands more Microsoft Dynamics CRM users over the next few years.

Other partners worldwide, such as Ciber in the United Kingdom and OnDemand4You in Germany, are also excited about the opportunity and potential the new Sales Productivity solution opens up for them to help their customers be more efficient and deliver amazing experiences.

More about the Sales Productivity offering from Microsoft can be found at http://www.microsoft.com/en-us/dynamics/sales-productivity-promo.aspx. In addition, all can follow and engage with the Microsoft Dynamics CRM community @MSDynamicsCRM at http://www.twitter.com/msdynamicscrm, #MSDYNCRM.

About Microsoft Dynamics

At the heart of every successful business are the people who make things happen. Microsoft Dynamics designs modern business solutions that empower individuals with intuitive tools that allow them to do their best work. Our proactive, easy-to-use business applications adapt to the way people and systems work, enabling businesses to rapidly deploy and be forward-looking in an ever-changing world.

About Microsoft

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services, devices and solutions that help people and businesses realize their full potential.

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://www.microsoft.com/news/contactpr.mspx.

Microsoft announces CitiDirect BE Tablet app for Windows 8.1 for corporate treasurers

BOSTON —
Sept.

29
, 2014 — At the Sibos conference in Boston on Monday, Microsoft Corp. announced the availability of Citi’s CitiDirect BESM Tablet app for Windows 8.1. Citi, a leading provider of global transaction and trade solutions, designed the app for its largest corporate treasury clients. The app, a channel extension of Citi’s corporate banking platform, CitiDirect BE, now operates on three platforms and is made available exclusively to CitiDirect BE customers worldwide, at no cost in 79 countries and nine languages in the Windows Store. The development of CitiDirect BE Tablet for Windows 8.1 significantly broadens the reach of CitiDirect BE with corporate treasurers.

“Technology is improving every part of the customer experience, and being able to provide our treasury clients with real-time information wherever they are working helps them be more productive and make more informed business decisions,” said Hubert Jolly, global head, Channel, Enterprise and Prepaid Services at Citi’s Treasury and Trade Solutions. “By working closely with Microsoft, we have developed a solution that can be accessed from nearly any Windows 8 or Windows 8.1 tablet or device, which is important to our clients because many operate their businesses on the Windows platform.”

To meet the demands of sophisticated corporate treasury and trade services, the app provides fingertip access to business-critical financial information from a wide choice of enterprise-grade Windows devices. With the additional benefit of seamless access to Microsoft’s enterprise productivity and collaboration solutions, customers can access this app with the enterprise-grade security and manageability demanded by corporate IT departments.

“Now is a critical time for financial institutions to become digital information businesses, drive engaging customer experiences, deliver the products and services demanded by customers, and capitalize on new business models that were previously unattainable,” said Colin Kerr, director of Worldwide Banking, Microsoft. “Citi is a leader in this digital transformation, and we are delighted to see the launch of CitiDirect BE Tablet on Windows 8.1 to support corporate treasury executives and operations staff with deep business insights.”

The CitiDirect BE Tablet app for Windows 8.1 provides treasury executives with visibility into mission-critical financial information in real time, allowing them to quickly execute activities such as authorizing transactions or monitoring account balances across geographies in a map and chart view. With filters, financial data can be customized even more, such as by balance type, currency and total amount, allowing Citi to provide a global view across the treasury.

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services, devices and solutions that help people and businesses realize their full potential.

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://www.microsoft.com/news/contactpr.mspx.

Banks choosing Microsoft Dynamics CRM to enable personalized customer experiences and operational efficiency

BOSTON
— Sept. 29, 2014
—
Monday at the Sibos global banking event in Boston, Microsoft Corp. (Nasdaq “MSFT”) highlighted leading banking institutions that are modernizing their business operations and choosing Microsoft Dynamics CRM to shift from transaction-based businesses to customer-centric businesses.

Wayne Morris, corporate vice president, marketing for Microsoft Dynamics, has seen this firsthand: “To become customer-centric organizations, banks must first think from their customers’ perspectives. They need solutions that enable them to deliver amazing customer experiences while also safeguarding customer data and meeting complex regulatory requirements.”

Microsoft is also seeing a growing number of global system integrators building out financial-service-specific solutions on top of Microsoft Dynamics CRM to deliver industry-specific solutions tailored to the needs of banking organizations.

“With banks confronted by the realities of the new digital customer, we certainly see a large opportunity for the joint value of Avanade with Microsoft in the CRM space for banking,” said Ashish Kumar, chief growth, Avanade. “With its extensible platform and security model, Microsoft Dynamics CRM is well suited for the banking industry. We’ve been able to help numerous banking organizations drive customer profitability and operational efficiency through our longstanding alliance. We continue to work closely with Microsoft on banking-specific solutions and best practices based on Microsoft Dynamics CRM that will help banks meet the ever-changing needs of customers in the digital era.”


RBS-Nat
W
est
is a great example of a banking organization putting the customer at the center of its business with Microsoft Dynamics CRM.

“Knowledge is powerful — especially when creating a tailored banking experience for business customers,” said David Russell, head of CRM services, RBS-NatWest. “NatWest Business Banking uses Microsoft Dynamics CRM, providing its employees with a unified and highly detailed customer view. With it the team can consistently deliver highly relevant, effective interactions with every customer, which ultimately helps them achieve their business ambitions. Microsoft Dynamics CRM unites teams, saves time and helps NatWest make customers happy. With Microsoft Dynamics CRM, RBS-NatWest has achieved more than 95 percent user adoption, better connected teams and more valued customer service.”


Citibank
, a worldwide leading financial institution, uses Microsoft Dynamics CRM for its private banking operations across three continents.

“Our technology team considered Microsoft Dynamics CRM and found that it was everything we wanted and more. Most important, it could serve as a global solution and integrate with the platform we were currently using,” said Dena Brumpton, global chief operating officer, Citi Private Bank. “We can deliver solutions to our clients in a much more relevant way because we understand their needs. We know what they’re interested in and what their preferences are, which means we can target them better. As well, Microsoft Dynamics CRM makes it easy to be compliant with regulatory requirements in each jurisdiction.”


The Saudi Investment Bank
, a leading banking institution in the Persian Gulf, decided to employ Microsoft Dynamics CRM to drive growth in its recently created retail banking operations.

“The figures speak for themselves. Microsoft Dynamics CRM has helped us drive up our overall bank revenue, dramatically increase our market share in consumer loans, increase our conversion and win rates, and, most important, increase our customer satisfaction,” said Suliman Abduaziz Al-Obaid, general manager-IT and Shared Services, The Saudi Investment Bank. “It is clearly a powerful tool and easier to implement than other CRM solutions. We needed to improve turnaround time and streamline processes, and Microsoft Dynamics CRM helps us do exactly that.”

More than just a customer management solution, Microsoft Dynamics CRM also provides financial service organizations with a flexible development framework, something Maybank experienced firsthand. Maybank, winner of the Asian Banker Risk Management Technology Award, uses Microsoft Dynamics CRM to better manage risk and improve efficiencies.

“We were able to use the flexible platform of Microsoft Dynamics CRM not just for customer management but also for risk management and contract management,” said Herbert Poh Cher Hian, director, Group Finance Strategy and Systems, Maybank. “Most impressive was how quickly we could develop our contract management system, deploy it consistently across all groups, and get our people to use it and dramatically increase their productivity. Because the Microsoft Dynamics CRM user interface is so similar to other Microsoft products like Outlook, our people were able to start using it with little training. And we are already seeing real business benefits with Microsoft Dynamics CRM as noted by the 80 percent reduction in contract processing time.”

Leading technology organizations are capitalizing on the extensible platform of Microsoft Dynamics CRM to better serve the needs of their banking customers. “Microsoft provides a leading CRM solution with an extensible platform, which we’ve used to build a loan origination solution and will apply to additional industry-focused solutions,” said Anthone Withers, director and general manager, Integration Services, HP. “These solutions, combined with a broad portfolio of IT and consulting services and deep industry expertise, allow us to holistically address the business needs of our financial services customers.”

With more than 40,000 customers and 4.25 million users, Microsoft Dynamics CRM provides financial service institutions with a customer-first design philosophy and seamless integration with other productivity applications such as Microsoft Outlook, Microsoft Office 365, SharePoint and Lync. Microsoft Dynamics CRM customers and prospects can learn more about Microsoft Dynamics CRM in the financial services space at http://www.microsoft.com/en-us/dynamics/crm-financial-services.aspx. In addition, they can follow and engage with the Microsoft Dynamics CRM community @MSDynamicsCRM, http://www.twitter.com/msdynamicscrm.

About Microsoft Dynamics

At the heart of every successful business are the people who make things happen. Microsoft Dynamics designs modern business solutions that empower individuals with intuitive tools that allow them to do their best work. Our proactive, easy-to-use business applications adapt to the way people and systems work, enabling businesses to rapidly deploy and be forward-looking in an ever-changing world.

About Microsoft

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services, devices and solutions that help people and businesses realize their full potential.

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://www.microsoft.com/news/contactpr.mspx.

Reinventing banking for great customer and employee experiences with mobile solutions

Hello. I’m Jeremy Korst, and I lead Windows Product Marketing. This week at Sibos, we’ll be talking with Financial Services companies about how to enable their rapid digital transformation to empower more productive employees and better engage customers. Banks have been undergoing a digital transformation for some time, but there is increasing urgency to transform due to the explosion of mobile devices and apps, as well as the growing percentage of millennials who grew up in a connected world and now expect digital experiences as consumers, employees, and corporate customers.

Gartner predicts mobile devices will connect 1.4 billion consumers by 2016, and according to IDC already 27% of free mobile applications are finance/money apps, just behind photography apps. And, we’re now seeing the app explosion move beyond consumer apps and reach into employee and corporate customer tools. Add that nearly one in every three employees in the U.S. will be a millennial by next year, and by 2025 they will become 75% of the global workforce. These and other factors are driving urgency on financial institutions digital transformation.

Many of the world’s leading financial services companies are working with Microsoft and our partners to redefine what it means to be a digital bank. They’re building employee and customer experiences on Windows 8.1 to take advantage of the wide range of devices available, where they can customize the experience and offer powerful solutions that also provide the enterprise-grade security required in such a highly regulated industry. Windows enables them to develop experiences that can be easily accessed on anything from a smartphone or tablet to an 80” Windows touch- and pen-enabled PPI conference room board, and everything in between. Here’s a look at what some of them are doing.

Citi: reinventing the client experience for corporate customers

Today we’re announcing CitiDirect BE Tablet for Windows 8.1, an app designed specifically for senior-level corporate treasury professionals. CitiDirect BE Tablet provides on-the-go visibility into their financial information through an easy-to-use, tablet-optimized experience, allowing them to be more productive and better meet their customer’s needs. Citi is the leading provider of global transaction and trade solutions and offering this service now on Windows 8.1 gives their corporate customers security and device choice while providing treasury executives with visibility into mission-critical financial information in real time, allowing them to quickly execute activities such as authorizing transactions or monitoring account balances across geographies in a map and chart view.

1a

Temenos: reinventing mission-critical work for mobile workers

Temenos, the market-leading provider of mission-critical solutions to the financial services industry, announced the availability of four new apps on the Windows 8.1 platform today. These are: Treasury Management Dashboard, Insight Mobile Dashboard, FX Trader and Branch On-boarding. Fred Cook, the Chief Information Officer for BlueShore Financial, commented: “Temenos Insight is already a valuable solution for us. It provides our business teams with information that’s easy to understand and reconcile. Our recent purchase of the Insight Mobile Dashboard app for Windows 8.1 gives us the ability to make decisions on the move, which is becoming increasingly critical to our business, increasing efficiency and improving customer service.”

Fidelity Information Services: reinventing the experience for consumers at their bank branch

A successful digital bank needs to be able to monitor all customer interactions at the branch, at the contact center, over the internet and with relationship managers. To help banks do this, today FIS announced the TouchPoint Suite built on Windows 8.1. This solution offers self-service, is built for touch and provides greater security with facial recognition. The Windows 8.1 version runs an employee view on the teller’s kiosk and helps consolidate all customer data, so requests can be handled effectively. The solution allows employees to have a view of contact history, relationships, current work, and upsell opportunities.

Pershing: empowering wealth managers to offer better customer service

Relationship managers need to be productive from anywhere; and to meet and collaborate more easily and effectively. To help their wealth managers, Pershing is announcing the availability of its NetX360 Mobile App for Windows 8.1 tablets. The app provides investment professionals the tools needed to manage client accounts, provide great customer service, and help develop new sales and revenue opportunities.

2

GIEOM: helping financial institutions manage compliance and change processes

Banks are going through a rapid transformation in the way they manage their business between things like new product launches, ensuring compliance with regulatory and process changes and aligning best practices across their organization. This requires quick and uniform communication to all employees in various locations and working in different hierarchies. At SIBOS 2014, GIEOM is launching the GIEOM app for Windows 8.1, which will allow effective change management and compliance assurance across the bank. Communication is now possible cross platform with Windows 8. Impacted employees can access critical change management information on computers, tablets and mobile devices with the same streamlined experience and features on each.

3

SunGard empowers bank customers to access finances anywhere

SunGard’s Ambit MyMoney app is ‘always on, always connected, always with you’. It is an Internet banking solution platform that helps banks provide customers with online banking services via web, mobile or tablet, empowering customers to stay current and stay connected with their finances. It helps banks adapt to the user behavior of today’s generation by exploiting the full potential of the Windows platform, such as its omni-channel, touch-enabled, multi-tasking, and smart search capabilities. Ambit MyMoney reshapes the online banking customer experience with its personal financial management tools, out-of-the box integration with social media platforms, and business process management capabilities that traverse all bank channels.

Good for Enterprise keeps banks devices and data secure

Good for Enterprise securely manages data and devices. It enables enterprise grade, secure mobile collaboration with email, calendar information, contacts details, browser access, task management and document data. It delivers an intuitive and tailored user interface across multiple devices and is now available on the Windows 8.1 platform. Mobile workers can quickly search, read and compose emails, review documents, manage contacts and schedule meetings with colleagues using their preferred device.  Good for Enterprise integrates next-gen containerization protecting corporate data separate from personal information —including emails, business contacts, or files —on BYOD and managed devices. In the event a device is lost or stolen, business data can be wiped or locked without impacting personal data.

Leaders in the digital bank transformation are not leaving it to new market entrants to own the future of banking. They’re becoming digital information businesses, creating more engaging customer experiences and empowering employees.

For more information on digital transformation in banking, check out today’s Official Microsoft blog. Reporters writing about the digital transformation in banking can check out our Sibos Newsroom for links to relevant content and images.

Microsoft enters into new global partnerships in fight against cybercrime

REDMOND, Wash. —
Feb
.
1
2
, 201
4

Microsoft Corp. announced three new global partnerships Wednesday with the Organization of American States, Europol and FIS to increase cooperation between international law enforcement and the private sector in combatting cybercrime and helping build a safer Internet.

Microsoft officials signed memorandums of understanding with representatives of the three organizations during the company’s first annual Cybercrime Enforcement Summit, which brought together more than 60 leaders and experts from law enforcement, academia and the private sector to share legal and technical solutions to confront the global spread of cybercrime. The conference follows the opening last fall of the Microsoft Cybercrime Center, a state-of-the-art facility designed specifically to advance the global fight against cybercrime.

The agreements establish a framework for cooperation and are intended to spur collaboration and help Microsoft work with each of the three organizations to pursue criminal enterprises engaged in cybercrime. Microsoft, the OAS, Europol and FIS anticipate that the collaboration will enable them to strengthen their forensic and technical analysis of malware and botnets; assessment and investigation of emerging malware threats; enforcement actions against cybercriminals; and the ultimate dismantling of these criminal organizations.

“Cybercriminals are increasingly sophisticated in preying on consumers, including children and senior citizens,” said Brad Smith, Microsoft executive vice president and general counsel. “These agreements will help the private and public sectors fight cybercrime more effectively, while protecting our customers’ privacy.”

Microsoft is excited to mark its first collaboration with the Organization of American States. The OAS was established in part to strengthen collaboration among its member states, which currently includes all 34 independent states of the Americas. OAS is committed to developing a culture of cybersecurity by taking effective, preventative measures to anticipate, address and respond to cyberattacks.

“There are no borders when it comes to cybercrime, and the criminals are located worldwide, making it impossible for any one organization to fight cybercrime alone,” said OAS Ambassador Adam Blackwell. “We must harness the power of partnerships to have a greater impact against these criminals and keep the Internet safer for everyone.”

Microsoft often collaborates with law enforcement organizations. One example is the recent partnership with Europol to successfully disrupt the dangerous ZeroAccess botnet, which infected up to 2 million computers and stole millions of dollars from online advertisers. Europol, which boasts its own European Cybercrime Centre (EC3) based at Europol headquarters in The Hague, Netherlands, has supported numerous major cybercrime operations involving malicious software and online child exploitation. Today’s agreement solidifies Europol’s commitment to continue providing targeted and effective approaches to combat cybercrime in Europe.

“The ZeroAccess botnet disruption demonstrated the power of our combined efforts as our coordinated approach forced the cybercriminals in this case to walk away from their criminal enterprise,” said Europol’s Assistant Director Troels Oerting, who is in charge of EC3. “This kind of collaboration is the new model needed to attack cybercrime, and that is why we’re committed to working with Microsoft so we can take more aggressive action in the future.”

Financial crimes in particular pose a serious cybersecurity threat. As the world’s largest provider of financial technology, FIS™ is on the front lines of the fight to maintain cybersecurity of payments and financial transactions worldwide. By signing this MOU, FIS is taking another step on behalf of its financial institution clients to help protect them against cybercrime.

“This partnership with Microsoft will help FIS to better protect its clients from cybercrime and make global financial transactions safer for our clients and their customers,” said Greg Montana, EVP and chief risk officer, FIS. “We’re pleased to partner with companies like Microsoft, which are taking aggressive action to address cybercrime at every opportunity. We look forward to a long and mutually beneficial relationship with Microsoft.”

More information about Microsoft’s efforts to fight cybercrime and the new Microsoft Cybercrime Center can be found at http://www.microsoft.com/news/presskits/dcu. About the Organization of American States

The Organization of American states is the world’s oldest regional organization, dating back to the First International Conference of American States, held in Washington, D.C., from October 1889 to April 1890. Today, the OAS brings together all 34 independent states of the Americas and constitutes the main political, juridical, and social governmental forum in the Hemisphere. In addition, it has granted permanent observer status to 67 states, as well as to the European Union (EU).

About Europol


Europol
is the European Union’s law enforcement agency whose main goal is to help achieve a safer Europe for the benefit of all EU citizens. It does this by assisting the European Union’s Member States in their fight against serious international crime and terrorism.

About FIS

FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 39,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.

About Microsoft

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://www.microsoft.com/news/contactpr.mspx.