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Hearsay Systems teams with Microsoft to deliver new financial services-focused business apps


Hearsay Systems, provider of Advisor Cloud solutions for the financial services industry, has formed  a strategic alliance with Microsoft to help financial services firms empower their advisers to be both ‘high-tech and high-touch at scale in the digital age’.

Hearsay and Microsoft will focus on addressing the specific challenges faced by financial institutions, including the need for compliant adviser-client engagement technology that will enable advisers to better manage client relationships and grow business. 

The alliance will bring together the data-driven relationship insights from Microsoft Dynamics 365 with the financial industry-specific workflows, data and compliance capabilities from Hearsay, allowing advisers to more effectively acquire, convert and deepen client relationships. 

“Advisers, agents and bankers are on the front lines of the digital transformation journey for financial institutions. But regulatory compliance rules can present challenges, which restrict advisers and bankers from using basic engagement channels that today’s digital-first consumer expect and demand,” says Clara Shih (pictured), founder and CEO of Hearsay. “We’re thrilled to partner with Microsoft to help institutions break down traditional organisational silos and empower the adviser across the client lifecycle – from awareness and initial engagement to service, retention and referrals, with the ability to utilise relationship-deepening, one-to-one digital communication tools like texting, email and instant messages.”

Joint customers of both companies will be able to capture client relationship data at the adviser level and recommend contextual, personalised next-best actions for their advisers, all while  helping them compliantly engage with their contacts via modern digital channels such as social media, text messaging and email – ultimately overcoming some of the largest challenges facing the industry.

For example, a client updating their employer on LinkedIn would trigger Hearsay to prompt the financial adviser to pull up the client’s Dynamics 365 contact record and suggest that the adviser reach out with a pre-written congratulatory message via text. Once this action is taken, Hearsay would recommend the adviser to follow up a week later with a pre-suggested email in Microsoft Outlook to discuss a 401(k) retirement savings plan rollover, since job changes are often the only times people consider a rollover. All adviser-client communications would run through Hearsay’s supervision and compliance platform, ensuring adherence to a firm’s compliance policies.

“We are excited to bring together Hearsay Systems’ technology and extensive financial services expertise with our Dynamics 365 customer engagement platform,” says Alysa Taylor, general manager, Microsoft business applications group. “Hearsay brings financial services-specific workflows, data and compliance capabilities that provide an industry-focused addition to our existing Microsoft Dynamics 365 offerings for sales and support teams, including our Relationship Sales solution, and will ensure that financial services organisations can give their sales and support teams an application that meets their unique needs.”  

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