Customers are unique: treat them so
Because corporations demand access to the bank consistently and up to date through any channel, banks need a solution that allows delivering of all the products and back office capabilities without the need for explicit adaption to each new channel. This is provided by the Corporate Banking Exchange (CBX).
CBX enables Banks to deliver role-based workstations to their corporate and retail customers in the form of simple apps and work spaces. Apps are customizable, self-contained business services that are context aware and enforce entitlements. Information, Analytics, Decisions and Transactions (IADT) are all rolled out in one simple window called apps. What's more, the solution does not require Banks to invest heavily in portal technologies as the apps can exist in simple application server containers!
CBX Scores Where Others Fail
Today’s traditional menu-driven approach demands a steep learning curve and quite often can put off end users. Personalization is limited to more of changing the look than the feel of it. Convergence is neither a technical nor a functional feasibility. Changes are besieged with risks.
Many frustrated Bank businesses and technical managers have expressed how changes are expensive and risky, because the portal products they have implemented delivered either single-domain solutions (effectively limiting the channel convergence option) or were built on business models that do not support agile roll out of services. CBX addresses both these concerns through an App Store-based model and widget technologies based on IADT principles.
Endless Possibilities
Almost all Banks talk about channel convergence today. It is an inescapable route Banks have to take to meet the customer demand for 'one Bank, one product and one experience'. The last decade was all about SOA and the need for applications to be redesigned as a bundle of consumable services. Now the time is to move up the ladder of business architecture and focus more on ‘apps’. Here is where Intellect CBX technology makes this transition manageable, sustainable and profitable. Polaris’ complexity reduction philosophy is not only limited to application design, but is also extended to smaller application roll outs. CBX technologies help Banks develop and offer their services much like the apps that one can find in App Stores of mobile and tablet players. Imagine yourself for a moment as a retail customer going online to the Bank's portal and finding a few new services, such as personal money manager, tax advice, a new utility payment, lined up in the App Store that you can buy. Imagine the power unleashed should Banks be able to roll out niche apps to targeted customer segments for a premium!
The possibilities are indeed limitless. CBX technology is well and truly at the forefront of this revolution.
The Market has Warmed Up
The CTO of a large Bank gave a ringing endorsement of the CBX way when he said, "You are where we want to be few years from now, if we are lucky and invest lots of money!" This very much sums it up. The experience is great, usability redefines 'intuitiveness', productivity goes up multiple notches, and above all, the Banks feel that the investment in Transaction Banking business is secured because of the ease with which smaller and smaller business services can be rolled out without any impact to existing applications.
Now it is time to get ahead
CBX is spreading to key back-office and mid-office products, which means it is not only the Bank's customers, but also staff who can benefit from the role-based efficiencies that this technology unleashes.
