AGYS launches BankConnect
BankConnect™ is a product family, designed to help banks compete for the new generation of banking customers, expedite and reduce risk associated with daily onboarding and product transacting and ensure compliant activities throughout.
“This new customer engages the banking community, already informed. He is tech-savvy and used to transacting with his universe of providers in a more seamless fashion; seeking and often demanding a less difficult, multi-channel and frequently personalized engagement model”, says Jonathan Wiener, Partner and Vice-President of Global Sales.
BankConnect™ helps a bank differentiate its offerings from competition, significantly improve customer experience and speed of delivery, while reducing the cost of internal work.
Key areas of value that differentiate BankConnect™:
- Multichannel Delivery
BankConnect™ applications were built with an essential thing in mind: the digital revolution is impacting the way customers research their choices, buy their products, expand their relationships and determine their loyalty. This is why all applications can be initiated and accessed via numerous channels (internet banking, branch walk-in, mobile) in order to promote opti-channel engagement for increased customer attraction and loyalty.
- Balancing Governance with Speed of Execution
These were two things that were previously difficult to achieve in parallel: BankConnect™ applications first tighten process governance over data collection requirements, required background checks, credit checks and fraud checks for supporting risk mitigation. Secondly, they give a financial institution the ability to evaluate, approve and issue much faster than before. In fact, our current customers are experiencing improvements of up to 80% on origination time.
- Making Data Actionable
BankConnect™ applications seamlessly integrates with all existing systems, to make data available and actionable at the right time to the right person, for each decision that requires information stored in internal or external systems (CRM, Core Banking Systems, Scoring, Fraud, Black list, SWIFT, other).
For example, it ensures immediate assimilation and cross-referencing of information from all internal and external data sources to assess customer’s assets, liabilities, fraud alerts and history for determining credit worthiness.
- Non-code based self-management
BankConnect™ applications offer banks the ability to adjust business elements within the applications to ensure that they system functionality stays in step with operational or regulatory variations. For example, business users can easily add new products, adjust credit criteria on the fly for products, individuals or risk profiles, and more.
More so, for decisions that are relatively straight forward they can take very low risk types of credit decisions or absolute no’s automatically. This speeds time to issuance or decline not only for these, but also the backlog of higher risk credit decisions, which can get quicker attention.
The applications also automate delegation of authority on review and approvals based on various principles around credit risk, which are assimilated to determine approval chains and levels simultaneously and automatically.
- Multiple deployment options
BankConnect applications are available for on premise or private cloud deployment, with commercial alternatives suited to the financial strategies of each customer. They are also designed for multi-tenant cloud environments and multi geography enterprise deployments, to accommodate multiple specific country regulations and languages, specific organizational structures, rules and KPIs.
- IBM Technology Value
IBM technologies are the smart foundation behind all our applications. All our BankConnect applications are built utilizing IBM’s best of breed technology stack for on Premise and Cloud Based solutions. More information within the detailed section within this document.
The applications can be fully tailored to any customer’s environment, integrated with all required back-end systems and like all AGYS solutions for Banking, typically deployed within 90 days for operational value.