Consumer behaviors are constantly evolving, tasking companies – across a variety of industries – to adapt and flex. The financial services industry is no exception.
It is not news that technology has become an integral part of our lives. Technology has impacted how we listen to music, read, study and watch our favorite TV series — all of which can be done from a cell phone, tablet or laptop. Do you remember the last time you went to the mall to buy a CD of your favorite band? It has been a while, right? In the last few years, consumer behavior has changed significantly. Consumers more than ever want convenience and choice at low cost. Digital innovations allow for this and more.
Consumer behaviors are constantly evolving, tasking companies – across a variety of industries – to adapt and flex. The financial services industry is no exception. And the pandemic certainly impacted how people accessed their money – turning to online sources versus visiting physical locations such as a bank branch or ATM. Banks understand the need to offer convenience and choice to customers, but how can banks deliver if they rely on legacy systems not designed to meet today’s modern day demands? The explosion of fintechs, coupled with the global impact of the pandemic, continue to push financial institutions to embrace a digital banking transformation.
Banks are faced with the challenge of offering tailored products and services to attract new customers — customers who seek more value from their banks — while increasing customer engagement with better service. A key way to achieve this is to embrace technology to deliver new financial products and services at the speed of commerce. A cloud-based, next-gen digital banking platform that is flexible and can adapt to customer needs quickly is essential for those financial institutions that want to retain its current customers and grow in the marketplace.
Today’s customers aren’t judging a bank’s digital service against that of another bank – they’re judging it against other great digital experiences they’re having with brands like Netflix, Amazon and Apple. That is the big challenge, being able to deliver equally amazing digital experiences. These changes started years ago and financial institutions have been aware of the need to transform their legacy platforms digitally and to renew their banking core with a structural flexibility that allows them to create new products dynamically in order to meet client needs, due to their changing behaviors. These new behaviors have led to the convergence of new users into digital channels and are driving new investments in data analytics to not only better understand customers, but also proactively offer them solutions.
Customer Centric
At Technisys, from our headquarters in Miami, we think that the heart of banking is centered on the service of people. We are the next-gen digital and core banking platform that redefines the customer experience. As a best-in-class technology platform, Technisys uniquely delivers differentiation in two key ways by empowering financial institutions to dynamically create tailored financial products at the speed of commerce. And by offering meaningful recommendations to customers at point of need designed to we help banks with solutions that they need to deliver value to microsegments at scale.
Today, digital adoption is evolving in the digital banking space, impacting branches, call centers, ATMs and more. The world is becoming increasingly digital. Embracing digital innovations and delivering delightful customer experiences are becoming increasingly intertwined. This is why Technisys is committed to helping banks and fintechs differentiate and thrive, via an API-centric, cloud-based platform that enables you to create and tailor any product, dynamically. Our solutions help banks erase departmental silos built around legacy products and lines of business so they can uncover new business opportunities and new revenue streams. To help financial institutions meet ever-evolving customer needs, we created Cyberbank, our digital engagement accelerator and next-gen core banking platform. Designed to help financial institutions differentiate by adapting to changing consumer behaviors and helping banks become an integral part of their customers’ lives.
Does your financial institution want to differentiate? Structural Flexibility and Customer Centricity are the answers
Technisys uses data-driven insights and integrates them with our unique technology that enables structural flexibility. A flexibility that enables the delivery of tailored products in seconds, via multiple touchpoints, down to the segment of one.This capability empowers banks to keep up with the evolving needs of their customers, especially in a world where digital banking is no longer a nice-to-have but fundamental to success. Structural flexibility is a new concept for many banks but is a proven model that defines Cyberbank, our next-gen, white label digital and core banking platform.
We are customer centric
Cyberbank empowers banks and fintechs to deliver a delightful experience for more than 100 million banking customers in 16 countries, while uncovering incremental revenue streams across entire product lifecycles. In today’s fiercely competitive business climate, we know that the only way financial firms can keep up is by using a proven, high-performing digital banking solution, like Technisys, that is smart enough to anticipate change and flexible enough to adapt at scale.
What if you could create a tailored product that connects payments with checking and savings accounts? A card that lets each customer decide how much she wants to put aside with every purchase. She can round up to the nearest dollar, the nearest $10 or even higher. Let the customer set parameters around what financial data she would like to see. Maybe she doesn’t want to know how much she has saved for holiday shopping until December 1. Or, she prefers to set an alert that lets her know when her savings reaches $15,000 so she can buy that new car. Technisys’ unique structural flexibility empowers banks to do this and to address specific needs of customers today and tomorrow like no other.
How to flex and adapt at scale?
To achieve the agility and speed needed by today’s financial institutions, a digital banking platform with a modern architecture is a critical piece of the puzzle. Banks are best served by engaging with digital banking technology partners that can facilitate valuable customer interactions versus executing simple account transactions. Banks with a Digital Banking Processing Platform (DBPP) have access to a foundational layer built on data, providing deep insights about customers and how best to serve them with one-to-one personalized banking experiences.
Cyberbank, the Technisys DBPP, is recognized as the highest in Architecture and Digital Banking Foundation criteria in The Forrester Wave™: Digital Banking Processing Platforms (Retail Banking), Q3 2020 report. The high performing platform is built entirely on the power of APIs – enabling banks and fintechs to deploy and scale as business dictates. With a growing list of global customers such as: Banco Original in Brazil, Falabella in Chile, Davivienda in Colombia and many more, Technisys supports tens of millions of customers to-date.
How can banks embrace an end-to-end digital model and help fintechs jumpstart their growth? How do they address the needs of changing buyer behaviors from Generation Z to Millennials to Baby Boomers? By adopting a next-gen digital banking platform that offers seamless customer experiences, across all target segments, in the channel of their customer’s choice. Technisys solutions simplify complex and siloed channel architecture by defining unique and reusable processes. These processes are designed to be future-proof, regardless of device, channel or the complexities brought on by existing bank legacy systems. Whether financial institutions are looking to replace their existing core banking system, or, simply want to expand its capabilities, Technisys offers the needed end-to-end digital backbone to meet today’s new normal in the digital age.
says German Pugliese-Bassi.
Exciting times are here!
These are exciting times for Technisys as we continue to experience exponential growth across the globe. Coincidentally, Miami is fast becoming a notable tech hub. During Miami Tech week, there were hundreds of founders and VCs of tech companies who came together and shared their passion for the industry and expressed their wishes to continue building their dreams in Miami. It is great to see startups and big companies moving to the sunshine state.
Thanks to the efforts of entities such as Endeavor Miami, which has supported hundreds of startups and government initiatives, Miami is on its way to becoming a booming tech hub. At Technisys we are happy to have chosen this city to grow our dreams and be an active advocate for the technology community for the last decade. So, come to Miami, we are waiting for you!
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