Fintech company EY has launched the EY Retail Intelligence solution that builds on the Microsoft Cloud to offer clients a fast and secure shopping experience. Following this launch, the EY Retail Intelligence solution helps merchants and businesses reach the expectations of customers.

Those preferences and expectations rose ever since the increasing shift to digital shopping because now clients can search and seek the lowest prices of products across a myriad of channels. Furthermore, the new solution facilitates the user’s experience from begging to end, from the initial contact with the merchant and its products to personalised targeting and evaluation through one solution and data bank. Customers can resume all their activities at any time, from any place, such as an online store, physical store, or even a call centre.

The EY Retail Intelligence solution uses Microsoft Cloud and Microsoft Cloud for Retail and their technologies, including image recognition, analytics, and artificial intelligence (AI) to collect data across all channels and turn it into valuable insights. It is also built using the Microsoft Dataverse, and standard tablets from Dataverse. This provides the customers with the possibility to add other Dynamics 365 solutions to the EY Retail Intelligence without the need to migrate the data.

In addition to this, EY Retail Intelligence can replace parts of a system landscape that already exists or can be set up as an additional layer to it. Benefits that customers and clients can have The EY Retail Intelligence solution enables all the channels to access the same data about suppliers, clients, products, finances, customers, and logistics in real-time. This offers retailers and businesses a complete view of the analytics and data information.

Moreover, retailers can benefit from intelligent customer recommendations on all platforms, where the customer receives desired product recommendations based on their search history, shopping history, and preferences. Clients can also facilitate self-checkout, which allows them to pay through the application for their items without the need to wait at the checkout. EY Retail Intelligence also provides information about the sustainability of the products they are buying or are planning to buy, making it easy for them to access the needed details.

This works by scanning the product with the mobile phone camera, as the application directly shows the credentials of the item after that. EY’s development strategy Ernst & Young (EY) is a company that offers assurance, consulting, strategy, transactions, and tax services to its customers. Enabled by data and technology, the services and solutions provided by EY offer clients the possibility to develop and grow in the market, in a secure and fast way.

In December of 2022, EY announced the launch of its fintech lab, based in London, with the plan of launching a second one in 2023 in Edinburgh. The labs were designed to collaborate with startups and scale-ups that are focused on innovation and offering solutions to financial challenges, including financial crime and maintaining a sustainable economy. .