SINGAPORE, 16 SEPTEMBER 2009 - The retail banking industry today faces three key challenges, according to officials at software and IT services company SunGard. They are: retaining key customers, realising greater operational efficiency and maintaining business agility and adaptability.
These challenges can be overcome by SunGard’s latest Ambit Enterprise Banking Suite (Ambit EBS), claims the IT firm. It is based on service-oriented architecture (SOA), and uses SunGard’s Infinity Process Platform.
The solution is a new front-to-middle-office banking offering for retail and corporate banks. It can integrate data from traditional back-office systems, point solutions and external applications to give a complete, 360-degree view of a customer’s relationship with the bank.
Banks can now transform their businesses without investing in large infrastructure or resource costs.
Ambit EBS’ single customer-centric platform can consolidate retail banking operations across channels and front-offices operations. Banks deploying the solution can help staff make quicker, more informed decisions and improve customer service. The company claims that Ambit can also help banks respond to dynamic industry demands and regulatory changes.
Other benefits
Ambit EBS provides other benefits as well. It provides banks with business process management across channels that helps them eliminate redundant and manual processing to achieve greater efficiency and deliver a consistent customer experience.
Noting the ongoing change and upheaval in the banking industry, David Hamilton, president for SunGard’s banks business, said banks have to struggle to retain existing clients, and take advantage of their competitors’ weakness by acquiring their clients. He emphasised the need for banks to better understand clients’ requirements and offer the right products and services via the right channels.
Hamilton said these issues can be addressed by the right technology and the banks that have realised this are increasingly searching for new technology innovation. “Ambit EBS is SunGard’s response. With this new solution, we are giving our customers the agility they need to adapt to an evolving environment by helping them streamline processes and improve efficiency throughout the enterprise,” he added.
