Staffware announces next generation Process-driven eBanking technology
Announcement posted by Staffware 25 Apr 2001
Staffware has announced the launch of Staffware eBanking, a new solution that is set to transform existing eBanking services provided by financial institutions.
Staffware eBanking will enable banking organisations in the retail, wholesale and investment sectors to fully automate their existing Internet-based banking processes both "in-house" and to their customers, enabling them to increase revenues, improve customer service and reduce costs.
Many financial institutions today only provide basic eBanking services which typically allow customers to access their bank balances, set up direct debits and transfer funds on-line. These first generation eBanking sites do not allow revenue generation by selling products on-line as there is little or no integration to the back office to support the complex processes required for these activities. Of the few sites that offer products on-line, the on-line applications are normally supported by paper-based processes in the back office.
In the future, according to Datamonitor*, retail banks, investment banks and insurance companies will all be chasing a new market - high net worth wealth management - estimated to be worth around $70bn globally. In order to capture this market, financial institutions will have to deploy second generation eBanking websites which will offer a more diverse range of products and services - some of which may be from third party suppliers. Customer service and competitive product offerings will determine success.
By integrating these websites to multiple back offices and existing legacy systems, Staffware eBanking can automate, track and control fulfilment of > on-line product sales - both for an organisation's own products and - in a B2B environment - for third party providers. Costs are kept to a minimum and customer service is maximised. On-line (Internet, mobile devices, iTV) and traditional points of entry for customers (branches, call centers) are also linked to the organisation's back office achieving end-to-end process automation. The Staffware eBanking solution also facilitates cross-selling so that organisations can gain maximum return from their customer base.
"In recent years, banks have concentrated on cost control to enhance shareholder value," said Angela Gregory, Managing Director, Staffware Australia. "In order to move ahead, they now need to increase revenues.
First generation eBanking websites provided basic banking services but have not offered on-line product sales since there was no integration to the back office.
"By integrating both front and back office applications and linking all delivery channels in the business processes, Staffware eBanking enables financial institutions to transform their first generation eBanking systems into 'revenue generators' by offering fully automated fulfilment of on-line financial product sales and providing cross-selling opportunities. Put simply, we are supporting tomorrow's eBanking requirements today".
Adam Hill, eFinancial Services Program Manager at Datamonitor, said, "As banks strive to make cross-selling a reality, the Internet channel is rapidly becoming the primary lead generator. On-line product applications and decisioning will be at the heart of next generation eBanking services, making process automation critical if true end-to-end integration is to be achieved. Furthermore, the advent of eWealth Management services means that B2B, as well as inter-enterprise, process integration will become essential."
Australasian Staffware Conference
Titled 'Beyond Workflow - Delivering Enterprise Solutions', the Australasian Staffware Conference will feature presentations from local and international organisations that have redefined their business processes using Staffware to achieve success in today's highly competitive marketplace.
Keynote speakers include John O'Connell, Chairman and CEO of Staffware Plc, John Brand, Industry Analyst, META Group, Neil McMurchie, Regional Director, Consulting, Gartner
Group and Jon Pyke, Chief Technology Officer of Staffware plc.
Date : Thursday 17th and Friday 18th May, 2001
Time : 8.30am to 5.30pm
Venue : Dockside,
Cockle Bay, Sydney
Entry : Free - pre-register at eventsap@staffware.com
Contact : Josephine or Natalie at 9548 2100
-Ends-
More about Staffware eBanking
By providing a suite of solutions targeting specific business areas such as processing and fulfillment of on-line applications for financial products in the retail sector (such as mortgages, loans, credit cards and ISAs) and corporate actions, global research and performance measurement in the investment sector, Staffware eBanking enables financial institutions to:
- Grow revenues through on-line product sales and cross-selling
- Improve customer service by shortening application acceptance times
- Drive down operational costs through end- to-end process automation
- Increase productivity
- Bring new products to market faster and more efficiently
- Increase business process flexibility to react to market changes
Staffware has a 12-year successful track record in supplying solutions to the banking sector. Existing Staffware customers in the banking sector include: Abbey National, Barclays, Citigroup, Deutsche Asset Management UK, Robeco and ING
Staffware eBanking will enable banking organisations in the retail, wholesale and investment sectors to fully automate their existing Internet-based banking processes both "in-house" and to their customers, enabling them to increase revenues, improve customer service and reduce costs.
Many financial institutions today only provide basic eBanking services which typically allow customers to access their bank balances, set up direct debits and transfer funds on-line. These first generation eBanking sites do not allow revenue generation by selling products on-line as there is little or no integration to the back office to support the complex processes required for these activities. Of the few sites that offer products on-line, the on-line applications are normally supported by paper-based processes in the back office.
In the future, according to Datamonitor*, retail banks, investment banks and insurance companies will all be chasing a new market - high net worth wealth management - estimated to be worth around $70bn globally. In order to capture this market, financial institutions will have to deploy second generation eBanking websites which will offer a more diverse range of products and services - some of which may be from third party suppliers. Customer service and competitive product offerings will determine success.
By integrating these websites to multiple back offices and existing legacy systems, Staffware eBanking can automate, track and control fulfilment of > on-line product sales - both for an organisation's own products and - in a B2B environment - for third party providers. Costs are kept to a minimum and customer service is maximised. On-line (Internet, mobile devices, iTV) and traditional points of entry for customers (branches, call centers) are also linked to the organisation's back office achieving end-to-end process automation. The Staffware eBanking solution also facilitates cross-selling so that organisations can gain maximum return from their customer base.
"In recent years, banks have concentrated on cost control to enhance shareholder value," said Angela Gregory, Managing Director, Staffware Australia. "In order to move ahead, they now need to increase revenues.
First generation eBanking websites provided basic banking services but have not offered on-line product sales since there was no integration to the back office.
"By integrating both front and back office applications and linking all delivery channels in the business processes, Staffware eBanking enables financial institutions to transform their first generation eBanking systems into 'revenue generators' by offering fully automated fulfilment of on-line financial product sales and providing cross-selling opportunities. Put simply, we are supporting tomorrow's eBanking requirements today".
Adam Hill, eFinancial Services Program Manager at Datamonitor, said, "As banks strive to make cross-selling a reality, the Internet channel is rapidly becoming the primary lead generator. On-line product applications and decisioning will be at the heart of next generation eBanking services, making process automation critical if true end-to-end integration is to be achieved. Furthermore, the advent of eWealth Management services means that B2B, as well as inter-enterprise, process integration will become essential."
Australasian Staffware Conference
Titled 'Beyond Workflow - Delivering Enterprise Solutions', the Australasian Staffware Conference will feature presentations from local and international organisations that have redefined their business processes using Staffware to achieve success in today's highly competitive marketplace.
Keynote speakers include John O'Connell, Chairman and CEO of Staffware Plc, John Brand, Industry Analyst, META Group, Neil McMurchie, Regional Director, Consulting, Gartner
Group and Jon Pyke, Chief Technology Officer of Staffware plc.
Date : Thursday 17th and Friday 18th May, 2001
Time : 8.30am to 5.30pm
Venue : Dockside,
Cockle Bay, Sydney
Entry : Free - pre-register at eventsap@staffware.com
Contact : Josephine or Natalie at 9548 2100
-Ends-
More about Staffware eBanking
By providing a suite of solutions targeting specific business areas such as processing and fulfillment of on-line applications for financial products in the retail sector (such as mortgages, loans, credit cards and ISAs) and corporate actions, global research and performance measurement in the investment sector, Staffware eBanking enables financial institutions to:
- Grow revenues through on-line product sales and cross-selling
- Improve customer service by shortening application acceptance times
- Drive down operational costs through end- to-end process automation
- Increase productivity
- Bring new products to market faster and more efficiently
- Increase business process flexibility to react to market changes
Staffware has a 12-year successful track record in supplying solutions to the banking sector. Existing Staffware customers in the banking sector include: Abbey National, Barclays, Citigroup, Deutsche Asset Management UK, Robeco and ING