While financial services institutions must address global economic situations and react to far-reaching underlying changes to the banking ecosystem, they must also look beyond today and prepare for tomorrow through innovation and new business models.
Banking - Core systems
Can you respond to marketplace changes faster than your competitors? Can you bring new products and services to market quickly? If not, your existing back office systems may be too complex and inflexible to enable the agility needed to succeed in today’s business landscape. A comprehensive approach to renovating your core banking systems may be the answer
Refocus your business practices. Deliver innovative products to market quickly, Chisquare Systems have an integrated set of core banking components to meet the challenges of retail banking and investment banking. Our Core bank products provide anytime, anywhere access for your customers with up-to-date, accurate information about their accounts and services.
Front Office Solutions
Who are your customers? What are their expectations? Today's customer is hard to win and even harder to keep. As consumers seek products and services that fit their preferences and their mode of interaction, they also expect greater levels of personalization—of both the product and the experience they receive. Deliver consistent, informed services across more channels so customers can manage their banking when and how they want. Create a smart bank through the reinvention of the front office.
Chisquare Systems banking front-office solutions can help you maximize the value of face-to-face and self-service interactions. Create an enterprise customer view. Link your customer channels. All to provide a consistent and powerful customer experience. Chisquare Systems is expertly positioned to provide fully-integrated solutions for the banking front-office environment using consultants and alliance partners experienced in retail banking. Our solutions can help create a smarter bank in the following ways.
Customer experience and CRM strategy design -- provide a more compelling experience across all touch points, whether branch, self-service, Web or contact center
Sales and service productivity -- create a service to sales culture; increase sales effectiveness with improved processes and access to better tools, skills and information for relevant and skillful cross-selling and up-selling
Marketing and analytics – leverage customer data using sophisticated analytics to best match products and services with customer needs, providing more relevant and effective marketing
Channel Optimization -- seamlessly integrate data, channels and processes to enable a consistent multi-channel experience and greater operational efficiency
Integrated Risk Management Solutions
Where does risk reside in your banking institution? Many banks take a different approach to risk management with applications and data managed independently from compliance, customer information and corporate performance. This impacts their ability to provide timely and accurate information on their institution's complete risk exposure.
An integrated risk management strategy can create the transparency banks are looking for, while helping differentiate their competitive position. This approach makes it easier to understand, control and optimize financial risks and opportunities. It can also help to detect, prevent and remediate operational risks, while enabling regulatory compliance. Integrated risk management solutions from Chisquare Systems are designed to enable secure information sharing and enhanced risk awareness, as well as policies and procedures to be embedded in business processes for more effective governance and control. Chisquare systems can help your banking institution develop corporate policies, programs and systems that can allow you to:
Create and implement an integrated risk management process for financial and non-financial risk.
Monitor and assess business processes against objectives to enhance business value.
Manage enterprise information to protect privacy, meet security control guidelines, and enable legal and regulatory compliance with records retention and management requirements.
Improve the operational resilience of IT infrastructure.
Help ensure the right control and enforcement capabilities are designed into business applications.
Optimize application development and delivery to help internal and external auditors verify that compliance requirements were accurately captured and implemented in key applications.
Payments operations and offerings
The global payments business is changing quickly, driven by market consolidation, margin pressure, disintermediation, risk and fraud. Position your banking business for emerging opportunities with enhanced efficiency, comprehensive risk management and simplified compliance. Our proven, open and flexible offerings can help you successfully navigate the payments market, while freeing up capital and reducing expense.
Chisquare Systems and our Business Partners can help you assess your current payments platform, and implement new technologies and value-add processes that can decrease costs and enable the development of new products and services. We can advise you on how you can outsource, co-source or progressively transform your operations. We can help you address your integrated risk management and compliance needs. And we can help you develop a strategy for your payments business to enable new revenue opportunities. Our payment solutions focus on helping you with three core payments needs:
Efficiency and convergence—decrease your operational costs and prepare for convergence. Our offerings can help you simplify your payments processing operations, create a more efficient and flexible payments infrastructure, achieve straight-through processing, automate duplicate detection and consolidate messaging services.
Risk management and compliance—design an overall risk and compliance architecture to protect your business. Our offerings help detect and interrupt enterprise-wide payments fraud and financial crime threats, as well as comply with regulations while differentiating your competitive position.
Emerging opportunities—develop a strategy to position your company for future growth. Our offerings can help you enhance business agility and responsiveness to enable innovation and generate new revenue streams through offerings such as mobile payments, supply chain, electronic invoicing, liquidity management and cash management.
Account opening solution from Chisquare Systems
Your account opening process is your institution's first contact with a potential customer. It can also be a major cost item. Chisquare Systems can help you implement an easier, more cost-effective account opening process. Common problems found in banks include
Multiple ways to open accounts.
Disparate service levels.
Complex account opening processes.
Your bank needs to reduce operational costs. Increase revenue. Attract and keep a new generation of customers with higher expectations for a faster and more satisfying service experience. The account opening solution from Chisquare Systems can help improve a critical customer sales and service process.
Recent studies demonstrate that the abandonment rate is as high as 75 percent for a customer left alone to complete an online account application. By contrast, an in-branch account opening experience for the same customer averages a 25 percent abandonment rate. ¹ Clearly, banks need to make the experience simpler and more collaborative.
The account opening solution from Chisquare Systems automates the account opening process from start to finish—from customer data capture to credit and identity verifications to account approval. Our consulting teams construct a tailored solution that can help streamline, compress and digitize your processes.
Remove the duplication of effort that increases operational costs. Eliminate the lengthy application process that can lead to disgruntled customers. Give your staff more time to focus on building relationships and selling solutions.