The back-office is an integral part of any financial institution that takes care of essential business functions. But it’s often the least visible, most overlooked area when innovation projects are proposed.
In today’s fast-paced, competitive environment, institutions cannot afford to fall behind. Those who have introduced automation in their back-office are realizing the long-term benefits of streamlined operations, reduced costs and improved user experiences.
In this article, we’ll explore the advantages of back-office modernization and how it can save time and resources.
Eliminating Manual Processing & Overhead
Legacy image processing systems vary by institution but often require specialized IT teams for upkeep. Banks using such solutions must also consider the potential manual tasks that may be associated with these processes, like processing checks by hand and investigating discrepancies — all of which can amount to millions of dollars of additional expenses, along with hours of additional time spent.
Facilitating Automation & Access to BI
By refreshing back-office operations with automation, productivity and scalability can be enhanced, better allocating resources to account holder services. This also allows executive management and line of business leaders to make decisions quicker by having access to comprehensive business intelligence (BI) from across all channels. Staying competitive also means bolstering the foundations of operations through modern technology.
Testing, Deploying, & Enabling Feature Updates Faster
Modern platforms leverage newer types of architecture, including those built on dockers and containers. This modular-based approach is an ideal investment for banks, allowing the application to run regardless of its environment and the institution to focus on a specific area or individual module. In addition to a phased deployment, testing and maintenance are also fractional, eliminating the need for the entire application to be taken offline. Because of this approach, these platforms often utilize less space than other virtual machines, reducing costs exponentially.
Reducing Your Software Footprint
In addition to modular architectures, thin client, cloud-native platforms typically involve less IT oversight from the institution but still maximize compliance and data protection. Information is stored in a hosted environment rather than on the bank’s local servers, lowering infrastructure costs but delivering limitless scalability. Simultaneously, solutions are kept up-to-date with new features and upgrades, ensuring a competitive advantage and maximizing account holder satisfaction.
Operational efficiency and remaining agile is key to ensuring that institutions deliver consistent account holder services, while also achieving business goals — including the ability to respond quickly to market changes with greater precision.
Isn’t it time to consider a modernized payments infrastructure to automate repetitive tasks and be more cost-effective?
As a cloud-native think client platform, Unify scales exponentially and allows for a better management of IT resources. With the market’s only patent-pending, single API, image acquisition and processing platform, your institution gains access to a single offering that addresses all deposit channels — in the branch, the back office, and remote. Eliminate the need to manage disparate solutions across various payment channels, exchange files and batches between applications — reducing overhead maintenance costs and reducing your software footprint by more than 90%.
Visit https://info.alogent.com/unify-ebook-video-icbc to learn more about Unify.
