Microsoft to launch monetary providers cloud on November 1, 2021

Microsoft has confirmed that its monetary services-focused business cloud shall be formally accessible on November 1, 2021.

The information comes eight months after the company confirmed it was launching three new business clouds this yr, for manufacturing, not-for-profits, and monetary providers. At the moment’s announcement implies that finance is the primary of these three to obtain an official launch date, although Microsoft has beforehand introduced an industry cloud for health care whereas its retail-focused incarnation currently sits in public preview.

Within the cloud

Sector-specific clouds are way more than a advertising try to promote a generic product. The finance business specifically usually has very particular wants by way of safety and regulatory compliance, which is why Microsoft’s new business cloud has instruments and providers to evaluate danger and fight fraud. Furthermore, it is going to additionally embrace options to assist retail banks create a unified buyer profile by merging monetary, behavioral, and demographic information, along with buyer onboarding instruments to streamline mortgage functions.

With cloud infrastructure spending hitting the stratosphere, the battle of the “large three” cloud giants is continuous apace with every ramping up their industry-specific cloud offerings. Amazon recently launched FinSpace, an information analytics service for the monetary business, whereas information warehousing big Snowflake announced its first industry-specific data cloud, additionally focusing on the monetary providers business.

Whereas Microsoft has now confirmed that its monetary providers cloud shall be touchdown in a bit over three weeks, it hasn’t but revealed when its different business clouds shall be hitting basic availability.