Introduction The Big Eye Openers: Office 365 Inside Office 365 Regulation, Security and Compliance Next Step

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2 Productivity Matters The financial services industry is at a major inflection point. Financial institutions are seeking to address margin pressures while driving technology innovation to meet new customer expectations, improve transparency, and stay competitive against non-traditional industry entrants. To win in this marketplace you first need to win in the workplace - and employee productivity is top of mind. The question is: WHAT IF you could reduce operating costs while fundamentally improving the productivity of your people? The Microsoft Vision We see the cloud as the future of productivity, providing communication and collaboration tools across devices and locations, to empower your people in new and profound ways. Microsoft Office 365 delivers the power of cloud productivity to financial institutions of all sizes, helping to save time and money, to free up valued resources in a way that works best for your business. Office 365 combines the familiar Office desktop suite with cloud-based versions of nextgeneration Microsoft communication and collaboration services - all backed by the robust security and guaranteed reliability you expect from a world-class service provider. This paper is part of a series that illustrates Microsoft s commitment to the financial services industry through advances in our product portfolio designed to drive better business outcomes for banks, capital markets, and insurers across the globe. The Future of Productivity in Financial Services: Office 365 2

3 The Big Eye Openers: Office 365 The Future of Productivity in Financial Services: Office 365 3

4 Productivity and Cost Optimization The industry continues in its efforts to improve efficiency ratios as financial institutions embark on transformational projects to streamline cost structure while improving the customer experience. Office 365 improves productivity, provides IT peace of mind, and reduces total cost of ownership Forrester Consulting, The Total Economic Impact of Microsoft Office 365 Midsize Customers. Your productivity platform is the catalyst for future success, whether that represents supporting the decision process, automating processes, better managing data, or implementing new ways to monetize customer interactions. Now, what if you could radically reduce the costs of managing and maintaining productivity while getting the very best and latest collaboration capabilities? Moving to a cloud-based productivity platform fundamentally improves the cost structure for financial institutions from a software licensing/usage perspective, as well as costs associated with building, managing, and maintaining the necessary infrastructure. The cloud is a compelling alternative to upgrading existing on-premises productivity and collaboration systems. This notion is a game changer for the financial services industry, and Office 365 represents a tremendous opportunity to dramatically reduce costs while increasing productivity and cost-effectively making Office functionality more broadly available. Office 365 ensures you always have access to the latest technology without the need for up-front infrastructure costs. With an affordable and predictable monthly fee, you have the latest version of the familiar Office desktop applications that connect seamlessly with best-in-class communication and collaboration services. In a recent economic justification report, Microsoft estimates the total cost saving for moving to Office 365 is between $511 and $839 per user. Indeed, we believe Office 365 mitigates most of the costrelated challenges that financial institutions face in terms of compatibility issues, change management, software distribution, and updates. These estimated cost savings with Office 365 are broken down as follows: The Future of Productivity in Financial Services: Office 365 4

5 Devices Cloud Social Control Reduce Hardware Costs with Support of Bring Your Own Device Initiatives Reduce License Costs with Per User Licensing Save Time on Key Business Processes (Improve Productivity) Reduce ediscovery and Compliance Costs $99 $198 $40 $80 $75 $150 $14 $27 Improve Mobile Productivity Reduce Development Costs Reduce Travel Costs Avoid Deployment Costs $60 $120 $5 $10 $138 $162 $50 $55 Eliminate Video Conferencing Costs $30 $37 Total Per User Per Year Savings of $511 $839 The Future of Productivity in Financial Services: Office 365 5

6 Forrester Consulting s The Total Economic Impact of Microsoft Office 365 Midsize Customers report stated that Office 365 delivered a return on investment (ROI) of 321 percent with a payback period of two months for the composite midsize organization after which they modeled the study. For financial institutions, this represents a substantial way to drive down costs and reallocate those funds to support revenue-generating opportunities. Customer Acquisition and Retention As financial institutions drive significant investments into new and existing channels - to improve sales productivity, build customer loyalty and retention, and optimize efficiency - the need to empower front-line staff is more critical than ever. Front-line staff need the tools and capabilities to radically improve the customer experience and turn every interaction into a sales opportunity, whether interacting with mobile customers or in a bank branch or through independent agents on the road. Imagine giving your branch staff, advisors, and agents real-time, actionable customer insight and collaboration tools to drive higher product up-sell and cross-sell rates. Imagine branch staff being able to connect in real time with product experts, easily access the information and tools to complete complex product sales, and visually illustrate dynamic investment proposals to customers either in person or via remote video conferencing. Now imagine an independent agent being capable of delivering a customized proposal on the fly while on the road. Imagine if that agent could collaborate securely in real time through video conferencing and content editing with company representatives to ensure the proposal is the best solution for the customer. Indeed, the probability of accelerating time to decision and developing deeper customer relationships would be much greater. Financial institutions need to enable connection and discovery where workers can easily get their work done, find new resources, and create new relationships with experts and colleagues. This needs to work seamlessly across devices, locations, and in a format that is familiar and intuitive. The Future of Productivity in Financial Services: Office 365 6

7 Simplifying ediscovery to access the critical content you need - when you need it: Providing front-line staff with the tools to quickly and easily access content by project, legal matter, or business context to better serve customers and optimize sales scenarios is key. Indeed, your people need laser-focused search capabilities to get the exact content they need. With advanced search technology, Office 365 unifies the ediscovery process by letting your people retrieve content stored across Microsoft Exchange Server, SharePoint, Lync, and even file shares. This enables them to find the content they need in one place - with a single experience for searching and preserving , documents, site mailboxes, and more - and places no burden on your people for preserving and archiving content. Connecting front-line staff to optimize sales and service: With Office 365, front-line staff can connect easily with product advisory or other headquarters based teams through high-definition video streams to collaborate on sales opportunities. A video gallery scales to provide the best experience for a diverse set of scenarios including point-to-point video calls, small group collaborative sessions, or presentation-style sessions for larger groups. To achieve speedy resolution to customer issues, while the customer is present, people search capabilities help front-line staff find colleagues with specific skills and expertise, and chat via one-to-one or group instant messaging conversations to deal with the issue on the spot. Supporting remote advisors: When a customer requires personal financial advice from their advisor, or product experts are required to present more complex products and services, Office 365 video conferencing enables remote advisors to connect with customers while they visit their branch, or potentially from their home or office, providing a scalable model for advisors to reach customers across multiple locations. Office 365 enables your advisors to work from anywhere with access to their latest documents, files, and personal settings, using the familiar Office applications optimized across your devices, from PCs to smartphones and tablets. The Future of Productivity in Financial Services: Office 365 7

8 Mobility and the Social Enterprise: Today the ability to provide front-line staff with the mobility to engage customers on a personal level is paramount. Imagine providing branch staff with the ability to receive a VIP alert on their tablet, seamlessly greet the customer, and quickly fulfill an account opening process via a touch-enabled device. Imagine front-line staff having the ability to greet customers in long queues, deal with their queries there and then with productivity tools on a tablet, or identify them so that when they are dealt with by another employee their requests are already logged in the system. At the same time, we are witnessing the rise of the social enterprise. Imagine an insurance company, with a distributed workforce of full-time employees and independent agents, providing secure social collaboration across departments and geographies. Imagine how that company could accelerate innovation by nurturing feedback and ideation, test product concepts, surface expertise, highlight best practices, and share corporate and industry knowledge. Ultimately the social enterprise enables a widely distributed company, in a highly regulated industry such as financial services, to function as a more agile, innovative organization driven by interpersonal connections and interactions. Deeper customer connections through new mobile scenarios: The Office 365 interface has been reimagined to make it more engaging with a clean, fast and fluid user experience, optimized to work with touch, pen, mouse, and keyboard. Office 365 works seamlessly across all your devices, but on Windows 8 it really shines with an immersive, touch-optimized experience to deliver an engaging, connected, and informed employee and customer experience. Office 365, coupled with new device form factors, empowers your front-line staff by freeing them from their desks to work from anywhere - making it easier to access agent portals while on the road or allowing them to visually illustrate investment scenarios with touch-enabled devices. The Future of Productivity in Financial Services: Office 365 8

9 Driving innovation with social collaboration: Unquestionably, enabling social collaboration among your people, and providing the capability for front-line staff to provide feedback to product and marketing teams on campaigns and new sales opportunities, is key to improving product and service offerings and streamlining how you go to market. With Office 365 you can benefit from social networking capabilities, enabling your people to stay connected with colleagues, speak their mind, share ideas, and get answers in real time. Your people can follow co-workers, documents, and sites that are most important to them to speed how they go about sharing customer knowledge and insight. Business Insight and Compliance With the explosive growth of internal and external compliance requirements, data privacy, security, and regulatory compliance are more critical than ever. The ability to examine the entire surface area of customer retention and acquisition strategy for potential security and compliance risk is essential. Neither the IT department nor the legal and compliance departments can keep track of all the information that is exchanged in the course of business. Financial institutions need the tools that enable self-service and automated compliance wherever possible. Protect customer data and information assets: Because financial data needs to be secured, particularly when moving in and out of your systems, Office 365 has built-in controls to give you the flexibility to manage the passage of sensitive information. Through accurate, automatic, and centrally managed data loss prevention capabilities, Office 365 makes it easier to monitor and protect your company s sensitive and confidential information. For example, policy tips warn your people about unintended policy violations before they send confidential information in . By scanning and attachments against centrally managed policies, it warns you about sensitive content such as credit card numbers or social security numbers. You choose whether to alert and log or block. In this way you keep your people productive without compromising security. The Future of Productivity in Financial Services: Office 365 9

10 Embed compliance into familiar tools: Office 365 delivers enhanced, integrated compliance functionality, including archiving and ediscovery, to help reduce the costs of regulatory compliance. With centrally managed or user assigned policies you can retain data at the folder, conversation, or individual message level, eliminating the need to buy and manage a separate archiving solution. Analyze data faster to mitigate risk: Office 365 supports your people in unleashing insights from your data. Coupled with Microsoft SQL Server, Office 365 provides a highly interactive, browser-based data exploration, visualization and presentation experience for users of all levels - from executives to information workers. This allows your people to create a report in just seconds, transform the shape of data with a single click, and add powerful timed animation sequences to quickly identify trends or anomalies. However, self-service business intelligence needs to go beyond individual insight. It should empower your people to work together to share insights and develop them collectively. Office 365 empowers anyone to visually explore data, easily create interactive visualizations, and effortlessly present and share reports - all within the familiarity of Microsoft Excel and SharePoint. The Future of Productivity in Financial Services: Office

11 Inside Office 365 The Future of Productivity in Financial Services: Office

12 The Future of Financial Services Productivity Microsoft above all wants to provide the most flexible productivity solution to the financial services industry. We see the cloud as the future of productivity, providing communication and collaboration tools across devices and locations. Office 365 gives financial institutions everything they need to optimize cost and improve operational efficiency, manage risk and insights, support customer acquisition and retention, and deliver the very best experience across devices. In this section we will take a closer look at these capabilities and how your organization can benefit. Access Anywhere Office 365 enables your people to work from anywhere with access to their documents, files, and personal settings, using the familiar Office applications optimized across your devices - from PCs to smartphones to tablets. When away from their computer, they can stream the full-featured version of an Office application on any Internet-connected PC with Office on Demand. Key features include: New Microsoft OneNote (planner/note taking) and Lync (online meetings/web conferencing) applications designed specifically for the Windows 8 experience that benefit from its touch first capabilities, end-toend security, and strong power management features. Office Mobile available on Windows Phone, ios, Symbian, and Android phones. High-fidelity document rendering across platforms. Office Web Apps support for Internet Explorer, Safari, Firefox, and Chrome. Sign-in to Office and confidently access personal documents and settings. Ability to sync files to devices using SkyDrive Pro for offline access and automatic resyncing and backup. Sign-in to Office using a browser to quickly stream an Office application to a Windows 7 or Windows 8 PC for full-experience viewing and editing with Office on Demand. The Future of Productivity in Financial Services: Office

13 Best Productivity Experience Office 365 allows your people to stay connected. They can host and participate in more effective online meetings with multiparty high-definition video conferencing, screen sharing, and real-time note taking. They can create a mailbox within a site to access team communications and documents directly from Outlook, and share documents from SkyDrive Pro (professional library) or SharePoint (collaboration and content management portal) team sites with controlled access. Key features include: Site mailboxes: An Exchange mailbox that is associated with a SharePoint site, enabling users to access documents and related to group projects through either Outlook or SharePoint. HD video conferencing: Lync uses open standards including H.264 SVC to enable HD video conferencing across a range of devices. The Lync video gallery allows Lync meeting attendees to simultaneously view up to five different participants, identify the active speaker, and associate names with faces. Lync Video Gallery: Continuous view of multiple video streams in conference displayed in a gallery format. The gallery shows the most relevant people in the meeting at all times by bringing the dominant speaker in focus and by taking the oldest dominant speaker out of focus. OneNote Share allows users to create and share OneNote digital meeting notes within a Lync meeting, reducing errors caused by later transcription and simplifying communication and follow-up. Ability to share documents from SkyDrive Pro or SharePoint team sites with controlled access. Newsfeed provides information, notifications, and updates based on people, documents, and tags you are following. PowerView enables rich visualizations for interactive data exploration, presentation, and reporting in SharePoint and Excel. The Future of Productivity in Financial Services: Office

14 IT Control and Efficiency latest spam and malware protection, geo-redundant data centers, and a 99.9 percent financially backed uptime service level agreement. Office 365 provides a powerful and easy-to-use web-based administration console to add or delete users, add security for mobile devices, and set document sharing policies. Enjoy business continuity with the latest spam and malware protection, geo-redundant data centers, and a 99.9 percent financially backed uptime service level agreement. Key features include: Simplified management with a single, web-based admin center. Easily set and managed mobile access and policies to protect company data. Enterprise-class spam and malware protection. Financially-backed 99.9 percent uptime service level agreement Continuous data backup, disaster recovery, globally redundant data centers. Remote wipe, which gives a user or IT administrator the ability to remove all organizational data on a mobile device (Exchange). Office Side-by-Side, a Click-to-Run feature that enables two versions of Office to exist on the same computer to provide a seamless transition for users in supported scenarios. Click-to-Run, a streaming technology built on Microsoft virtualization that quickly installs Office over the Internet. The Future of Productivity in Financial Services: Office

15 Regulation, Security and Compliance The Future of Productivity in Financial Services: Office

16 Your Privacy Transparency Independent Verification Relentless Approach to Security As your service provider, Microsoft employs state-of the-art practices around privacy and security because we care deeply about the valuable data you store in our service. To earn this trust, we operate Office 365 based on four important principles. Our first principle is Your Privacy matters. We consider protecting the privacy of your data as one of the most important responsibilities you have bestowed on us. The second principle is Be Transparent. We have taken an industry leadership role in providing clear details on how we handle your data. The third principle is Independent Verification. Hearing us talk about Office 365 security and privacy is a good thing but what you really want to know is How do independent auditors rate our practices? and What contractual terms are we willing to sign up for? Last, but certainly not least, is our Relentless Approach to Security. We are continuously improving how best to secure our customer data. Let us walk you through each of these principles. Privacy Microsoft recognizes that privacy is a critical element of a highly secure computing experience. Our financial services customers have high expectations about how we collect, use, and store their data. We commit significant resources to enhancing privacy protection and, as a result, privacy has been woven into the culture at Microsoft as an automatic priority in every area of the company. At a high level we are clear about three practices we follow regarding our Office 365 service today: (1) We don t build advertising products out of customer data; (2) customer data belongs to the customer and they can export their data anytime; and (3) we offer a choice to keep Office 365 data separate from consumer services The Future of Productivity in Financial Services: Office

17 How Privacy of Data is Protected Microsoft Online Services Customer Data Usage Data Account and Address Book Data Customer Data (excluding Core Customer data) Core Customer Data Operating and Troubleshooting the Service Yes Yes Yes Yes Security, Spam and Malware Prevention Yes Yes Yes Yes Improving the Purchased Service, Analytics Yes Yes Yes No Personalization, User Profile, Promotions No Yes No No Communications (Tips, Advice, Surveys, Promotions) No No/Yes No No Voluntary Disclosure to Law Enforcement No No No No Advertising No No No No Operations Response Team (ltd. to key personnel only) Yes Yes, as needed Yes, as needed Yes, by exception Support Organization Yes, only as required in response to support inquiry Yes, only as required in response to support inquiry. Yes, only as required in response to support inquiry. No Engineering Yes No Direct Access. May be transferred during trouble-shooting. No Direct Access. May be transferred during trouble-shooting. No Partners With customer permission. See partner for more information. With customer permission. See partner for more information. With customer permission. See partner for more information. With customer permission. See partner for more information. Others in Microsoft No No (Yes for Office 365 for small business customers for marketing purposes). No No The Future of Productivity in Financial Services: Office

18 Transparency In addition to the commitment we are making in our agreements, we believe transparency is more than just terms and conditions. It is providing you with the details about how we operate the service. This means letting you know where your data is located, who has access to it, and what we do with it. Office 365 is deployed in a regional pair of data centers in Europe servicing the Europe, Middle East, and Africa market; in the United States servicing North and South American countries, and in Singapore/Hong Kong for the Asia-Pacific markets. The location is based on the ship-to location you specify when you sign up for the service. As an administrator of the service, you can sign up for our compliance notification. As we continue to innovate, if these data maps and flows change, you will be notified. Another level of detail we provide is who and what kind of data is accessed and under which condition. Independently Verified Microsoft uses a framework-based approach to managing compliance-related controls, which enables our staff to plan, deliver, operate, and manage a customer s compliance requirements. Microsoft Online Services undergoes multiple third-party compliance audits annually. We are proud to say that we are the first in our space to have been certified with ISO27001, an internationally recognized standard in security practices. We also have the most complete approach to European data protection, security laws, and obligations. While most vendors today rely only on EU Safe Harbor clauses, we go above and beyond and offer the EU Model Clauses as well as a long-form data processing agreement that includes additional EU Member State data protection legislation. For our non-eu customers, we offer the stand-alone Data Processing Agreement for our enterprise agreement customers and will be expanding to all customers shortly. The Future of Productivity in Financial Services: Office

19 Compliance with Key Standards Certification Audience Office 365 ISO All customers Available EU Safe Harbor EU customers Available SSAE 16 (Statement on standards for Attestation Engagement) SOC 1 (Type I & Type II) compliance Primarily US customers Available FISMA US Government Available HIPAA/BAA All Customers Available EU Model Clauses EU Customers Available Data Processing Agreement All Customers Available FERPA EDU Customers Available The Future of Productivity in Financial Services: Office

20 Security The Microsoft Security Development Lifecycle (SDL) is the industry-leading approach to developing secure software. First introduced in 2004, the SDL is the industry s most trusted software development process that focuses on building secure software from the ground up. The SDL infuses security into each phase of development to protect customers by creating software that is less vulnerable and more resilient to malicious attacks. The SDL prescribes security activities in each stage of the development process. The goal is two-fold: 1) eliminate as many vulnerabilities as practical and 2) reduce the severity of vulnerabilities that slip through. This is why threat modeling, which happens at the design phase, is considered so important to the effectiveness of the SDL. Defense in depth is a best practice across the industry, and it s one that we take seriously. When we do deploy the software into data centers we look at the controls that we have to apply and at every single part of the stack, be it the physical controls to prevent people getting access to equipment, to encrypting data over the network, to locking down the hosts, to installing antivirus software. Having a rich set of controls and defense-in-depth strategy helps ensure that, should any one area fail for whatever reason, there are compensating controls in other areas to maintain our customer security and privacy at all times. Security is an ongoing effort that combines experienced and qualified personnel, software and hardware technologies, and robust processes to design, build, deploy, operate, and support the service. The Future of Productivity in Financial Services: Office

21 Next Step Explore the Productivity Potential The best way to experience the power of Office 365 is through a hands-on immersion. The Microsoft Customer Immersion Experience is designed for business executives and provides a guided, hands-on walkthrough of the power of the Microsoft productivity portfolio, including Office 365. Contact your Microsoft representative to schedule a Customer Immersion Experience. The Future of Productivity in Financial Services: Office

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