In 2013 we emphasised the criticality of design to financial institutions, as a key differentiator in all aspects of operations. Today, we focus their attention to a single outcome – how to design lean operations at an enterprise level.
Finally reflected in TAT, Risk, Costs, Time-to-Market and CSat measures, the understanding of operational efficiency has evolved from dealing with one time / event transactions and conversation threads, to managing integrated and contextual conversations that cut across internal and external silos.
Intellect experience drives more STP, manages exceptions during the process, pre-empts leakage and possible failure points, and builds on the premise that good construction anticipates disaster. 15- 30% reduction in operational costs from alignment, integration and better connections between disparate pieces of operations is just the beginning!
Critical technology issues are challenging banks as they attempt to scale up, meet the evolving regulatory compliance and offer a uniform experience to their customers across channels, languages, geographies and lines of business. Customers and the bank’s business and operations often engage in dialogues occurring in silos resulting in duplicity of information, operational risk and lack of a holistic view of the entire ecosystem.
A conversational technology
Hub Technology – the 5th generation banking technology from Intellect, is built to address the needs of a dynamic business environment facilitating seamless interactions among the various stakeholders. A fully integrated application design platform conceptualised specifically for banking and financial services, Hub Technology drives agile application building with zero coding, resulting in solutions that can cater to extreme processing environment. Through its open application management framework, standard enterprise-wide data dictionary and intelligent configurable user interfaces, Hub Technology comes with complete support for building applications.
Hub Technology supports end-to-end orchestration of a transaction lifecycle. It encompasses multi-channel integration, intelligent decisioning, easy document integration, ready financial data models, plug-and-play business services, holistic activity monitoring and visual analytics. It also provides an advanced integration layer, dynamic user interface, comprehensive reference data management, role-based entitlements and Intellect pioneered 6M framework for enterprise readiness.
Independent analysts across the globe have acknowledged and commended the differentiating capabilities of Hub Technology based solutions and some of the world’s leading Tier-1 banks have lauded the business benefits delivered through quick implementations.
Pre-built solutions on Hub Technology
Customer Onboarding: Compliance and positive customer experience together – while reducing cost
Payments Services Hub: A channel-agnostic real-time solution for > 95% STP and better operational productivity
Funds Control: A solution to global corporate limits that both reduces risk and cost, while improving customer service
Receivables Management: Automating entire receivables life cycle for improved cash flow
Supply Chain Finance: Mobilising the combined strength of buyers and suppliers
Trade Finance: Enabling Single sign-on into Trade Finance products through feature rich and intuitive interfaces
Leveraging Hub Technology
Solutions delivered on Hub Technology refine operational processes, drive expansion through faster time-to-market and are high on performance. They deliver better business models through progressive modernisation while protecting current technology investments.
Hub Technology aims at building value around the global financial supply chain by conceptualising a fully developed environment and not just a discrete solution. It offers banks the power to harness their knowledge to scale up their existing ecosystem, move towards accelerated build and diversify across product lines.
The possibilities with Hub Technology are endless.