Banks and financial institutions nowadays are aiming at transforming their front office operations into a more effective and client-friendly environment. To do so, they must at least integrate with back office (the core banking system) to have timely and accurate information that will help perform daily activities. By aligning technology with the business strategy and of course having an effective front office tightly coupled with the back office banks would achieve what is called a high performance organization.
This type of financial institution is one that is different from other banks in the eyes of the customers. It provides a wide range of financial products and provides more than one medium to deliver its services. From the employees’ side, operations inside the bank are fast, effective, centralized, and standardized. Combining these two keys points a high performance bank is one that delivers outstanding execution and superior performance and can adapt to all kinds of changes.
The trend today for financial services sector is to become a high performance bank by moving towards becoming service oriented and provide a wide range of services and products. The two main things are delivering service to your customers from multiple channels and knowing your customer very well no matter what branch he/she steps into. On an internal level, employees want simple internal processes and this could only mean high information availability, business process automation and of course day-to-day employee collaboration. Banks also would like to comply with worldwide information standards by managing their documents and enforcing policies such as expiration and retention rules. And finally, in order to ensure that they are on the right track banks need to monitor their operations, and as a result evaluate and revise the technology strategy.
Netways is able to architect a solution to work for you and is accurately controlled by a “monitor – evaluate – revise” ongoing cycle.