What do CPQi offer in Banking Technology?
With the banking world becoming more and more digital, it is more important than ever for banking professionals to embrace digital banking technologies – and CPQI is here to help.
Our comprehensive banking technology services and solutions are designed to simplify the process of digital transformation and platform managed services.
Managed Services
Managed services help to leverage the costs of digital banking and remove the hassle of having to operate complex and problem-prone technologies that are essential for digital banking platforms to function. By utilizing managed services, banking firms can get ahead of the competition in terms of technological advancement, without out expanding outside of budgetary boundaries.
Embracing the usefulness of CPQI’s managed services for fully digital banking is a great way to ensure customers are accessing their financial information easily and efficiently. Customer experience is ultimately the driving force behind the success of digital banking systems, and providing services and technologies that are well-managed and perform seamlessly is key.
Bring your clients improved services by leveraging flexible resources and a reliable cost base. All our employees are required to take a qualification in banking as well as technology, so everyone working on your project will understand your unique requirements. By leveraging managed services, we’re able to transform your banking organisation without going over your current budget.
Is Banking Technology Safe?
Moving banking into the digital space has led to many customers being wary of how the safety and security of their financial information will be protected. There are many different safeguards that online banking platforms can put in place to ensure a customer’s privacy and information is kept safe, including:
- AI (artificial intelligence) algorithms that are designed to detect suspicious transaction activity
- Biometric-based security barriers, such as fingerprint readers on smartphones
- Two-step verification that combines a traditional password with a one time code sent to a mobile device or email
Regulatory Compliance
Regulatory compliance refers to how well a banking firm is following a set of industry regulations that help with overall risk management and adherence to local and federal laws. The standards for compliance tend to change constantly, and keeping up with the most up-to-date compliance regulations is essential for a banking firm to remain in good legal standing.
When it comes to digital banking, there is an added layer of legality and regulatory compliance that comes from having to create a secure and reliable digital space. Cybersecurity regulations can make compliance much more technologically extensive.
Rather than spending a significant portion of a business budget on the expansion of an IT department, CPQI can help to not only consult with customers about regulatory changes but implement those changes as well and ensure full FRTB compliance.
We don’t just consult on regulatory changes, we’re ready to do the work for you. Whether you’re struggling with FRTB or LIBOR transitions, we’re here to help you. Where appropriate, we use nearshore offices to create more financial resources, giving you the opportunity to leverage some of your regulatory change budget in other transformative areas.
What is Banking Technology?
The term “Banking Technology” is used to describe a set of digital services powered through different technologies that provide banks with the ability to offer secure and affordable banking services. Examples of these technologies include:
- Platform Work: Core banking software provides a platform that covers the core technological foundations needed to provide banking technology services. This allows banking firms to place greater focus on front end issues, such as user experience.
- APIs: Application programming interfaces, or APIs, are software that allow for other banking firms to connect and utilize banking infrastructure. This can allow for an ecosystem-like business space.
- Integrations: Integrations are the processes through which banks securely share information in order for a customer to easily access their financial information.
- Channels: The term channels refers to the method of delivery of information from a banking firm to a customer. Banking technology can help transform these channels into a strong omnichannel digital offering, leveraging delivery formats customers are already familiar with, such as the user interface on automated ATM systems.
There are many back-end technological considerations that can become quite confusing and time-consuming when establishing a banking system within a digital space. Banking technologies can help to streamline many of these processes in order for less time to spent on IT and more time given to customers and their needs.
Digital Transformation
CPQI offers flexible digital transformation services that work within your budget in order to utilize the best digital advancements and technologies to build a strong online banking system. The digital transformation services offered by CPQI cover all facets of the transformational process, providing a one-stop shop for all your digital banking needs.
An efficient and effective digital transformation is necessary for banks looking to transition into the digital space, as customers of the bank will be eager to try out the new digital services and will likely either gain or lose trust in the banking platform depending on the quality of the digital transformation.
Get your banking institution ahead of the competition with improved channel strategies, predictive AI, DevOps and cloud migration. Whether you’re using Findur or Calypso, we can migrate your platform onto the cloud without breaking the bank and our predictive AI technology is designed to provide you and your clients with real, financial value.
Platform Managed Services
Here at CPQI, we offer world-leading platform managed services for many of the major platforms including Calypso, Finastra, and Murex. Out platform managed services can help with everything from configuration management to design customization.
By utilizing our professional and expert services, banking firms can much more effectively implement a digital strategy on one of our supported platforms. This means that getting the digital banking system off the ground will be significantly more time and cost effective thanks to having the backing of a team who are already experts in the intricacies of these platforms.
From platform implementations to JAVA and .NET builds, we understand platforms and how to help you get the most out of them. For over a decade, we have been providing financial platform system specialist services, including customisation and consultation.
Cloud Migration
By basing a banking service in cloud technology, banking firms can create a much more flexible system that is more capable of scaling with growth and enhancing profitability. Cloud migration refers to the use of cloud-based infrastructure that can provide excellent efficiency in terms of how quickly a digital transformation is able to take place.
Cloud migration provides remote support and security that automatically allows for information to be cross-platform friendly, meaning that it can be accessed from any device connected to the internet.
DevOps Implementation
DevOps is the application of software development (dev) and software operation (ops) combined with cultural philosophies and tools that are adaptable to changing business processes.
DevOps ultimately helps to aid in the communication and collaboration between software development teams and software operation teams in order to continuously improve the quality of the software being provided.
DevOps also helps with sustainable business growth by optimizing the overall efficiency of the systems and software in place. CPQI’s expert team is trained in both banking and technology to ensure that all needs for success are being met.
Omnichannel Development and Strategy
As banks begin to adapt to changing technologies and move more into the digital space, there must be a decent amount of consideration placed onto the channels through which customers will access your platforms and software. A strategic omnichannel approach places the emphasis on the needs of the customer and aims to provide seamless synchronicity across all channels, from digital to in-person.
CPQI offers omnichannel services to help banking firms shift from older methods that were more centered around the bank itself to omnichannel banking services that allow customers to access their information easily from anywhere at any time.
Check out our Omnichannel Banking Case Study to learn more about the omnichannel approach.
Predictive Artificial Intelligence
Artificial intelligence, more commonly known as AI, has a huge role to play in the world of digital banking. CPQI offers predictive AI technology that can provide highly specific business and industry insights in order to identify risk indicators and improve overall risk management.
When employed correctly, AI can greatly improve your workflow, delivery speed, and revenue. Although AI can be fairly complex technology to work with, employing our predictive AI services gives you access to an agile and efficient team of experts.
The Importance of Adapting to Banking Technologies
The reality of today’s current consumer-base is that more and more customers are looking for technologically advanced services that embrace changing technologies and the trend towards digitization. If banking firms want to not only survive changes to the industry but actually thrive, it is crucial to embrace banking technologies that can streamline many of the more complex processes needed to create a successful online banking service.
Benefits of Banking Technology
The initial jump from traditional banking methods into the world of banking technology and digital services can be an intimidating one. Understanding the potential benefits of embracing banking technology is key to overcoming hesitations regarding the digital transformation process. These benefits include:
- Improved User Experience: Banking technologies employ the more complicated systems and software that run behind the scenes to provide an easy-to-use user interface and platform that customers can access from any device that can connect to the internet, thus giving the customer greater control over their access to information.
- Customer-Centric Design: Banking technology services, such as omnichannel development and predictive AI, tend to be much more centered on the customer experience, and as such, typically focus in more on improving customer interactions.
- Cost Effectiveness: Without the help of banking technologies and managed services, there would be a lot of both banking and technology resources needed to operate a digital banking service. Running this kind of system without expert help could cost exponentially more than embracing services that provide banking technology expertise.
- Delivery Speed: Speed and efficiency are majorly important when it comes to online banking. Banking technologies help to deliver software quickly and efficiently at all times, and help to ensure a banking firm is operating smoothly within the digital space.
Book a Banking Technology Consultation
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