of Bank Systems & Technology, based on an interview CEO of the bank, Craig Donaldson, tells us more about the underbelly of this feat, made possible by modern technology . It is indeed the adoption of STP ("Straight-Through Processing ", a concept difficult to translate: real-time processing?) In all computer systems allowing reactivity unknown in other institutions.
When a new customer opens account as and as the advisor enters the information on the various applications perform the necessary checks in the background: rules against money laundering, KYC (know your customer) , credit checks from special schools ... Once the entry is completed, the application is ready to be validated and there remains only print the checkbook and the customer's card in two minutes. The heart
systems is based Metro Bank on the bid package Temenos and hosted by a specialized service provider. The engine decision FICO Blaze manages the rules of real-time decision. Scanning tools can take a picture of the customer and record (electronically) all supporting documentation provided. And all the bank's computer, almost completely outsourced, is managed by ... 4 people, who care to "assemble" the process and oversee the technology providers.
In a world where consumers expect instant results, the technology of Metro Bank gives it an incomparable competitive advantage, while providing tremendous efficiency. The adoption of modern tools is certainly easier for a new facility for those who have built applications and software aging, difficult to replace. but it would still be time for our "old" banks also spend the 21st century !
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