Finding niches, discovering new revenue streams and driving the art of the possible across the digital banking value chain
MIAMI, August 10, 2022 /PRNewswire/ — techniquesthe company behind Cyberbank, the cloud-native next-generation digital banking platform, continues to redefine the digital transformation journey and customer experience for financial institutions (FIs) with its latest launch of Cyberbank core. The solution signifies the next evolution of the core banking platform that enables retail and commercial banks to accelerate their digital banking efforts and future-proof their businesses. With Cyberbank Core, banks and financial institutions can build innovative products and services based on powerful parameterization tools and a library of ready-to-use capabilities.
Today, it is more strategically important than ever to equip FIs with a next-generation digital core that supports agility, innovation and new ways of working that fuel infinite digital potential. Innovations in digital central banking support more agile and cost-neutral ways to optimize in the cloud. A variety of cutting-edge technologies, such as low/no-code, smarter business rule discovery, and core mapping, offer new ways to strengthen valuable core assets.
Technisys redefines core banking modernization: the digital transformation journey and customer experience for FIs
Cyberbank Core makes it easy to add capabilities, define behaviors, and change product functionality quickly and easily by using business-oriented tools to dramatically accelerate new product launches at scale.
“Today, FIs will focus less on improving existing financial products and services and more on delivering new, personalized, real-time experiences that meet the ever-evolving needs of consumers,” he says. Mike Santos, founder and CEO of Technisys. “Empower FIs with smarter ways to deliver value, through tailored financial products, and form a clear view of where operations and deals will matter most.”
Cyberbank Core 4.0 offers key benefits that justify the power of upgrading to a next-generation core banking platform:
Economic benefit. Reduce production costs for your core processing system by leveraging neo-core’s small footprint, unique customer-centric pricing model, and “on-demand” processing power and cloud utility pricing. Business benefit. Create services that really solve the customer’s needs, when the customer needs them. Create and deliver finance offerings in unique ways that solve specific customer problems (eg, early payment/early access to salary, PoS/BNPL financing). Bring new products to market in weeks and months and enable “fail fast” program execution. Operating profit. Adopt a real-time operating model with built-in risk controls at the level of granularity banks need, even at the microservices level, reducing the need for error-prone, people-centric controls that erode efficiency. Orchestrate across APIs to further automate controls involving other systems, such as a fraud detection engine. Strategic benefit. Embrace the center of the customer, to the core. Create products and pricing for specific customer segments, geographies and desired subsidiaries much more easily, eliminating the need for the legacy ancillary systems that drive today’s “lasagna” and “spaghetti” architecture.
Cyberbank Core 4.0 offers a unique customer-centric model (not account- or transaction-based like legacy cores), while enabling faster time-to-market and personalization with a pre-integrated digital self-service platform for customer engagement for internet and mobile banking. The architecture enables integration with third-party ecosystems to use best-of-breed solutions with ease of change in the future, resulting in lower cost of execution, automation and resilience – the only next-generation core that supports true choice from cloud to five clouds. (ie Microsoft Azure, Amazon AWS, Google Cloud Platform, IBM RedHat OpenShift, IBM LinuxOne).
“The job of improving legacy core assets is not a one-time task, but an ongoing opportunity,” says Ricardo Zuasti, Technisys Product Manager. “The core application scope is breaking down into platform ecosystems. It’s becoming a decentralized, cloud-enabled, API-orchestrated collection of capabilities, held together by a user experience simplified and customized. By driving innovative change that will continue to disrupt the status quo, forward. – Lean FIs that are modernizing their core system will have a roadmap to not only adapt valuable core assets to new technological realities, but also to pave the way for endless digital possibilities.”
Technisys’ platform is a leading next-generation digital and core banking platform that redefines the customer experience. As a best-in-class technology platform, Technisys offers unique differentiation in two key ways. By enabling financial institutions to dynamically create tailored financial products at the speed of trade. And, allowing them to deliver meaningful recommendations to customers at the point of need. How are we different? Technisys’ platform uses data-driven insights and integrates them with its unique technology that enables structural flexibility. Flexibility that allows financial institutions to create and adapt any financial product, in real-time, to deliver a seamless digital experience at every customer touchpoint, whether online, over the phone or in a branch. Giving banks and fintechs the agility to tailor offerings that become integral to a customer’s lifestyle in deep new ways, down to the segment of one.
Ryan Lannonon behalf of Technisys
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