Polaris unveils new solution for banking sector

by CXOtoday News Desk    Sep 11, 2012

banking sectorPolaris Financial Technology launched a solution that will enable banks to manage and drive operational efficiencies across the entire customer onboarding lifecycle, including their product groups and various lines of business.

The new solution known as Intellect Customer Onboarding Hub (ICOH) not only offers cross-channel account opening and a 360 degree view of customers, but is also designed to ensure regulatory compliance and provides an improved customer experience.

The company believes that lack of straight through processing, unintegrated channels and rapidly changing regulatory requirements have posed significant challenges for banks while streamlining the customer onboarding process across product lines and fragmented systems. From that perspective, ICOH can simply the problems by standardising these processes along with extensive business activity monitoring and reporting capabilities.

“Customer based compliance, risk management and regulatory norms have been in greater focus in the banking and financial services business today. As a result, banks are adopting more exhaustive onboarding and account opening processes. ICOH, built on a component-based architecture can offer banks the cost advantage and flexibility to choose what they require, without the need to buy a tightly integrated monolithic platform,” said Arun Jain, Chairman & CEO, Polaris Financial Technology.

ICOH comes bundled with flexible rule driven workflows, configurable user interfaces, dynamic data models, a built-in integration engine, efficient image and document management capabilities, secure user and role based entitlements.