Complete Front Line Optimization & Digitalization
THE CLIENT SUCCESSFULLY CHANGED 20 YEARS OLD LEGACY, DECENTRALIZED SYSTEM WITH IMPLEMENTATION OF ASPEKT PRODUCT SUITE, A NEW CENTRALIZED SYSTEM OF FRONT OFFICE OPERATIONS.
The Bank acquired the CLIENT and engaged in the project of implementation and centralization of all Front Office operations with the Aspekt Product Suite, development of API Delivery Layer with connection to the Core System of the Bank.
With the implementation of the Aspekt Product Suite – Front Office System for Payment Operations, the Client managed to integrate 8 different, decentralized systems and improve the process completion control and efficiency, speeding up the Client data processing for more than 5 times than through previously used legacy systems, processing 25% transactions of the domestic payment on the country’s market through the system in all branches. ASPEKT integrated cash desk and treasury operations, vault administration, accounts consolidations, payments transfers (non-cash / cash operations, input orders and billing), financial processing and reporting, in 330 branches, for 760 front desk officers and 603 on-field agents.
The Client received a system that provides ad hock status overview of all financial activities in all branches which increased the performance control across operational lines, without technological barriers. The Aspekt Product Suite – Front Office System for Payment Operations provides automated background validation of data validity and transaction processing at the same time with integrated Document Management System for automated documents archiving and printing based on custom templates to accommodate the company policy of the Client. Now, the Client has received fully paperless process, stepping completely into financial digitalization era.
The API Delivery Layer integration to the Aspekt Product Suite – Front Office System for Payment Operations is built on cutting-edge technology with rich functionality approach that supports progressive build-up strategies on a single infrastructure, for further developments under extremely low total cost of ownership.
The manual and redundant operational activities were 100% automated, eliminating double entries in several decentralized systems and time-consuming activities, leading to improved end-user satisfaction and experience, better data quality for analyses and strategic projections of the bank.
The Client experienced impressive cost-efficient results and long-term, strategic benefits that demonstrate the implementation’s success. The solution included workflow improvements as process automation, streamlining, speeding up and integration. The Client managed to increase staff’s productivity by eliminating duplicate, manual error-prone data entry with single, front office operating environment, efficient entry and approval processes, eliminated daily, manual documentation transfer and improved processing time, all of which reduced travel costs and engaged time of staff between the branches. The new system supported the Client in expanding its operations through opening new branches and thus improving the services towards their own clients.
The solution empowered process innovation encompassing flexibility and scalability as all operations are run on a single infrastructure, with flexibility to independently define product policy, workflow functionality, data gathered, reports, documents, etc., enabling the staff to generate real-time financial reports from central location, compare results and make strategic decisions on the grounds of reliable analyzes.