Challenges in Core Banking
Banking systems need to be modernized. Banks have to optimize their legacy processes and infrastructure that support core banking functions while aligning with the changing needs of the business. The outstanding issues are:
- Inflexible and manual banking processes
- Complex and costly IT infrastructure
- Customer demand for tailored products
Where we can help
WebSphere software in Core Banking means using an incremental approach to optimize and reuse business processes across core banking applications, eliminate redundant interfaces, and consolidate application services and components. With WebSphere Solutions, banks can:
- Improve core banking process efficiency in a sustainable manner.
- Simplify IT infrastructure and platform scalability over time.
- Enable marketing and product development to collaboratively develop new products quickly.
Core Banking Transformation: Optimize and modernize legacy banking processes and systems, build infrastructure with flexibility and scalability.
Offer instant pre-qualification, cut underwriting costs by 78%, and more
Reduce the high operating costs caused by inflexible LOS systems, stovepipe legacy systems, and manual practices that lead to inconsistent enforcement of eligibility, risk-based pricing, and other underwriting guidelines.
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