Find niches, unlock new revenue streams, and advance the art of the possible across the digital banking value chain
MIAMI, Aug. 10, 2022 /PRNewswire/ — TechnologyThe company behind Cyberbank, the next-generation cloud-native digital banking platform, continues to redefine the path of digital transformation and the customer experience for financial institutions (FIs) with its latest release cyberbank core, The solution represents the next evolution of the core banking platform, enabling retail and commercial banks to accelerate their digital banking efforts and future-proof their business. With Cyberbank Core, banks and financial institutions can create innovative products and services based on powerful parameterization tools and a library of ready-to-use functions.
Today, it is more strategic than ever to equip financial institutions with a next-generation digital core that supports agility, innovation and new ways of working that fuel endless digital potential. Innovations in digital core banking support more cost-neutral and agile ways of optimization in the cloud. The array of cutting-edge technologies—including low-code/no-code, smarter business rule detection, and core mapping—offer new opportunities to empower valuable core assets.
Technisys is redefining the modernization of the banking core: the digital transformation journey and customer experience for financial institutions
Cyberbank Core makes it easy to add features, define behaviors, and change product features quickly and easily, using business-centric tools to significantly accelerate new product launches at scale.
“Today, FIs will focus less on enhancing existing financial products and services and more on delivering novel, real-time, tailored experiences that meet the ever-evolving needs of consumers,” said Mike Santos, founder and CEO of Technisys. “Enabling financial institutions with smarter ways to add value – through tailored financial products – and having a clear vision of where operations and offerings matter most.”
Cyberbank Core 4.0 offers key benefits that justify the power of modernizing to a next-generation core banking platform:
- Economical advantages. Reduce the production costs of your core processing system by taking advantage of the Neo-Core’s small footprint, unique customer-focused pricing model, and “on-demand” processing power and pricing of the cloud.
- Business Benefit. Build services that truly meet customer needs, when the customer needs them. Uniquely create and deliver financial offerings that solve specific customer problems (e.g. Early Pay/Early Wage Access, PoS Funding/BNPL). Bring new products to market in weeks instead of months and enable fail-fast program execution.
- Operational Benefit. Adopt a real-time operating model with embedded risk controls at the level of granularity banks require, even at the microservice level, and reduce the need for error-prone, human-centric controls that undermine efficiency. Orchestrate across APIs to further automate controls that other systems, such as a fraud detection engine.
- Strategic Benefits. Rely on customer orientation to the core. Build products and prices for the specific desired customer segments, regions and locations with far greater ease and eliminate the need for legacy add-on 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 self-service digital customer engagement platform for internet and mobile banking. The architecture allows for integration with third-party ecosystems to use best-of-breed solutions in the future with easy switching, resulting in lower operational costs, automation and resiliency – the only next-gen core to support a true cloud choice five clouds supported (i.e. Microsoft Azure, Amazon AWS, Google Cloud Platform, IBM RedHat OpenShift, IBM LinuxOne).
“Working to improve legacy core assets isn’t a one-off task—it’s an ongoing opportunity,” said Ricardo Zuasti, Technisys chief product officer. “The scope of core applications is fragmenting across platform ecosystems. It becomes a decentralized, cloud-enabled, API-orchestrated collection of functions held together by a simplified and tailored user experience. By driving innovative changes that will continue to disrupt the status quo, forward-thinking FIs modernizing their core system have a roadmap to not only adapt valuable core assets to new technological realities, but also open avenues for endless digital possibilities.”
Technisys’ platform is a leading next-generation digital and core banking platform that is redefining the customer experience. As a best-in-class technology platform, Technisys offers unique differentiation in two ways. By empowering financial institutions to dynamically create customized financial products at the speed of trading. And by allowing them to provide customers with meaningful recommendations when needed. How are we different? Technisys’ platform leverages data-driven insights and integrates them with its unique technology that enables structural flexibility. A flexibility that allows financial institutions to create and customize any financial product in real-time to deliver a seamless digital experience at every customer touchpoint, be it online, on the phone or in a branch. Giving banks and fintechs the agility to tailor offerings that become an integral part of a customer’s lifestyle in new and profound ways, down to a segment of one.
Ryan Lannon, on behalf of Technisys
E-mail: [email protected]