CREALOGIX Digital Banking: Innovative Software Solutions for the Bank of the Future
Pascal Wengi, MD, APAC Every organization stands at crossroads while considering the dernier cri, that is digitalization; weighing out the odds to arrive at an appropriate roadmap is always a challenge. Consider the story of one of the fastest growing banks in Europe, Deutsche Kredit bank AG (DKB). With a customer base of 140,000, the bank was skeptical about expanding its horizon with another physical branch in Germany. With a vision of enhancing its service while minimizing the number of resources expended, DKB considered taking the digital road by carpooling with CREALOGIX to reach its destination. CREALOGIX, which is one of the earliest fintech companies in Europe developed a Digital Banking Hub with automated self-service processes, incorporating all the functionalities of a physical bank. Fulfilling the requirements of a physical bank was just the start; CREALOGIX went on to integrate additional banking functionalities such as credit cards, e-vouchers, PayPal accounts, and cross selling features to bolster the overall suite of digital services. The results were inspiring: DKB achieved overwhelming customer retention, growing the customer portfolio to three million; the collaboration lets DKB launch an array of products and services within weeks of digitalizing, with customer satisfaction reaching as high as 90 percent.
The company at the backdrop of all the ‘good things’ attained, CREALOGIX, has been one of the Top 100 Fintech companies (IDC financial insights, 2017) and specializes in bridging the gap between physical and digital infrastructures.
“We help financial institutions orchestrate and build their own service eco-system within a secure environment using our comprehensive Digital Banking Hub,” says Pascal Wengi, Managing Director, Asia Pacific, CREALOGIX. The three pillars of CREALOGIX Digital Banking Hub, API (Application Program Interface), MAP (Mobile Application Platform), and UXP (User Experience Platform), builds a platform to deliver unique features sets such as CREALOGIX Branch in Mobile, Corporate Portal, and RM Dashboard.
The CREALOGIX Branch in Mobile, as the name suggests, builds a bank within a mobile. This enables customers to open an account without having to travel to the nearest branch. The application can also afford add-on services similar to those provided by physical branches such as credit reports, transaction summaries and services, non-banking and value-added services, wallets, and partnered products, from a mobile phone. As for bank employees, they can leverage a dedicated application— incorporated in the mobile banking solution—to onboard new customers by completing KYC (Know Your Customer) processes remotely. And, on the security front, banks can erect same safety barriers (such as biometric authentication) as they would in a brick-and-mortar environment.
The advantages of their digital infrastructure extend to corporate finance management as well that allows corporate users to manage multiple banking contracts and consolidate data from different banks. The CREALOGIX Corporate Portal serves as a secure payment gateway for clients to facilitate monetary transactions from various sources while complying with defined organizational standards. The company’s API structure enables financial institutions to build cloud-based value-added services on their existing application suite, with a time-to-market period of three months. The application framework provided by the company seamlessly integrates with different financial models, allowing organizations to redesign the structure as necessary.
The 20-year-old company has 1,200 wealth management, retail banking, and corporate banking installations running worldwide. In its recent endeavor, CREALOGIX had acquired an artificial intelligence technology, Koemei, to provide automated-customer-centric services in a bid to enhance the usability of banking operations. “Our ultimate goal is to bridge the gap between mobile technology and physical infrastructure to provide a hybrid model that utilizes the best of both worlds,” concludes Wengi.
The CREALOGIX Branch in Mobile, as the name suggests, builds a bank within a mobile. This enables customers to open an account without having to travel to the nearest branch. The application can also afford add-on services similar to those provided by physical branches such as credit reports, transaction summaries and services, non-banking and value-added services, wallets, and partnered products, from a mobile phone. As for bank employees, they can leverage a dedicated application— incorporated in the mobile banking solution—to onboard new customers by completing KYC (Know Your Customer) processes remotely. And, on the security front, banks can erect same safety barriers (such as biometric authentication) as they would in a brick-and-mortar environment.
The advantages of their digital infrastructure extend to corporate finance management as well that allows corporate users to manage multiple banking contracts and consolidate data from different banks. The CREALOGIX Corporate Portal serves as a secure payment gateway for clients to facilitate monetary transactions from various sources while complying with defined organizational standards. The company’s API structure enables financial institutions to build cloud-based value-added services on their existing application suite, with a time-to-market period of three months. The application framework provided by the company seamlessly integrates with different financial models, allowing organizations to redesign the structure as necessary.
The 20-year-old company has 1,200 wealth management, retail banking, and corporate banking installations running worldwide. In its recent endeavor, CREALOGIX had acquired an artificial intelligence technology, Koemei, to provide automated-customer-centric services in a bid to enhance the usability of banking operations. “Our ultimate goal is to bridge the gap between mobile technology and physical infrastructure to provide a hybrid model that utilizes the best of both worlds,” concludes Wengi.
CIO Speaks
-
Nafees Ahmed, CIO, Indiabulls
Winston Benedict, CIO, Dentsu Aegis Network ANZ
Nafees Ahmed, CIO, Indiabulls
Douglas Duncan, CIO, Columbia Insurance Group
Thomas Knapp, CIO, Waterstone Mortgage Corporation
-
David Kennedy, Group CIO, Transaction Services Group
Joelle Chen, Director, Global Partnerships & Marketing, Intelligent Air Solutions, Mann+Hummel
Peter Auhl
Subbu Murthy, CIO, Howard Building Corporation
Daniel M. Horton, CIO, Sallyport Global
Osman Faiz, Chief Information Officer, Singapore, Standard Chartered Bank
