The banking industry is facing a transformation driven by the dynamics within the financial markets, increased market regulations, declining customer loyalty and strong competition.
To react appropriately to these challenges, banks are working towards redefining their core competencies and improving their business processes. Flexibility is becoming a key element in banking applications and platforms.
However, legacy systems very often lack the flexibility and customisation support needed to adapt to business changes. Operational errors, lapses in internal controls, manual interaction and workarounds generate high costs for banks which add to the already high cost of maintaining fragmented legacy IT systems.
To improve their business processes, financial institutions are aligning business strategies, processes and information systems. The banking IT systems of the future need to support business functions and processes in a changing environment to guarantee timely best-in-class services to customers and to reduce operational costs.
Infonova offers the right solution to meet these changing needs – please take a further look at R6 for Custody Billing.