Digital Transformation - the Most Important Aspect
We all seek innovations that make it easier for us to use our devices, such as automatic transmission in cars, speech recognition on phones and remote control for room lights. Don’t we also seek better engines for our cars, faster bandwidth for our phones and greater energy efficient for lights. This illustrates that CX improvement requires innovation at the frontend as well as the backend.
L i k e wi s e , b a n k i n g too seeks improvements in the frontend and backend systems. The digital transformation wave has ushered in numerous innovations that have come in the form of mobile apps, POS terminals, online payments, etc. Simultaneously, banks have delivered a better customer experience (CX) by enhancing backend systems such as core banking, fraud detection, credit processing, etc.
Therein comes Speridian, an IT company with a wide variety of banking solutions for frontend as well as backend. Today, we will find out how Speridian’s Beacon Core Banking Solution helps a bank become a modern and customer-friendly bank.
Beacon CBS is designed to be fruitful for everyone from the CEO to the teller – it has a comprehensive set of features that are easy to use for everyone, from the tech novice to the tech savvy.
Every bank needs a CBS platform that has a rich set of features for introducing new products, services and controls to deliver all the innovations and enhance performance. Beacon CBS does that perfectly. The solution allows banks to tap the innovation capabilities of its employees to create fresh revenue streams and gain the desired competitive edge to race ahead. Beacon CBS helps innovators transform from legacy business to digital businesses and create new and unconventional revenue streams. It raises the capability of the bank to offer tailored products based on unified 360-degree customer view and embedded insights.
The other side of i nnovation is compliance. What a bank needs is a CBS that helps to meet all compliance requirements – regulatory as well as internal. Beacon CBS does that and is updated regularly to meet new regulations as they come.
No CBS stands by itself. It has to interact with various systems and channels of the bank. Beacon CBS has successful record of switch, channels and plug-in integration, thereby giving banks the full power to leverage every bit of digital advantage.
A CBS should not only be cost effective to procure, but also to run. By virtue of its advanced technology and architecture, Beacon CBS does not require heavy computational and memory resources, nor does it generate heavy network traffic. It is a low overhead system. Beacon CBS takes the load off the branch workforce and allows them to focus on customer engagement and scaling up. The pandemic and lockdown have shown how important this is.
In today’s age, a CBS must be empowered with multi-entity, multicurrency, multilingual and multi-time zone capabilities. Beacon CBS has all these, giving peace of mind to the bankers.
Looking at the rapid inroads that cloud is making into enabling all kinds of digital services, it is important for the bank to have a CBS that is cloud-friendly, browser-based and confirming to all security standards.
With i t s s uperior f uncti onali t y, technology, ease of use, controls, security, scalability and cost-effectiveness, Beacon CBS can meet the requirements of any type of bank at any stage of its journey. Whether yours is a new bank that is launching itself, or an established bank that is seeking digital acceleration, don’t miss out on the opportunity to leverage Beacon CBS.
Beacon CBS - 6 Notable Features that Maximize ROI
1. Anywhere Banking - Access banking services across the bank and channel network, regardless of where the account is maintained.
2. Improved Business Control - Technology
and automation needs are addressed. 3. 24x7 Real-Time Processing - A realtime solution that processes and posts transactions as they occur.
4. Accurate Regulatory Compliance - Regulatory requirements and statutory reports are all automated.
5. Multiple Delivery Channels – ATM, Internet, Mobile, POS and Kiosk can all be leveraged to enhance service and attract new business.
6. Strong Security & Oversight – While being easy to use, the solution also enforces strong security protocols, with every step is audit certified.
Beacon CBS - 7 Notable Control Features
1. ACL based user grading & access rights. 2. Multi-level maker checker authorization. 3. Detailed audit trails at different levels. 4. Date locks and screen locks. 5. Role-based access and criteria-based
password management. 6. Comprehensive backup options. 7. Advanced disaster recovery capabilities.