Your core banking system may be performing as expected, but is it keeping up with modern technology and customer demand? With innovations in core technology gaining momentum, there's no reason why your core system shouldn't have newer and more powerful capabilities for your bank to optimize operations and customer service. Learn the top three modern capabilities your core system should include and consider if your bank could benefit from them.
The Core System Capabilities Your Bank Needs
The following are just a few powerful capabilities we're seeing community bankers take advantage of to propel their business forward. After reading through them, if you realize your bank's core system does not have these capabilities, it may be time to talk to your provider about the possibilities.
System Automation
System automation is the key to the future and many banks have already started embracing it because it improves the customer experience and creates better cost efficiencies. Digital tools and software with automation capabilities enables various processes — both on the frontline and in the back office — to become simpler and faster. In addition, automation assists with risk management, data integrity, document management, and fraud detection.
Dynamic Reporting
Modern reporting aggregates the data you need and pulls it into easy to populate templates for quick and efficient reporting. Imagine a call report that can be done in hours, sometimes minutes, instead of days and weeks? This, along with 300+ free reports, and the capability to customize and write your own reports, are what IBT Apps’ i2Suite dynamic reporting function provides to clients.
Enhanced Document Management
Need more visibility into your documents and reports? A modern document management system organizes, secures, and ensures all your bank’s documentation are in compliance, while also improving accuracy and enhancing customer interaction. IBT Apps partners with Identifi to offer clients its sophisticated document management and tickler system that synchronizes your bank’s core data for all accounts and enables quick viewing of documents within your core application.
Is it time to assess your core system?
Whether your bank is enjoying you current core system as is or you're considering switching to a new core system, it's important to assess your core's capabilities and consider if there is room for growth and advancement. Developments and innovations in core technology are built to address the bank's evolving needs and provide value for the bank's customers. If you're no longer getting a return on your investment, it's time to start weighing out your options and partner with a core provider that works for your business.
Learn more about our core partnership and see what a modern core system can do for your bank. Contact us for a demo.
