Core Banking Systems (CBS)
Innovation for Dynamic Business
CBSs require a high level of complexity and specificity. Banks often spend years developing the systems themselves and how they connect to other IT systems. It is not uncommon for a bank to operate hundreds of interconnected systems, meaning the replacement of the core system can affect dozens of others.
Through multiple projects across Central Europe over the last fifteen years, Ness Technologies has gained unmatched experience in replacing older core banking bystems with modern solutions. We have built a competency centre on this experience – our experts work with with Flexcube, Equation and Profile systems and a number of other targeted solutions. These experts have in-depth knowledge of CBS GAP analysis and data migration. Ness Technologies experts have developed procedures for the delivery of a core banking system, from strategy and project preparation, through analysis and implementation, as well as ensuring its ongoing operation. We have excellent relationships with the leading providers of customer-oriented products (e.g. SunTec, Xelerate). Ness Technologies is also the first provider of outsourcing services in the field of core banking systems.
Alternative Solutions for Core Banking System Flexibility.
Ness Technologies also provides alternative Core Banking System flexibility solutions in cooperation with SunTec. These solutions are based on the centralization of product management, charge features, client offers and contracts. They allow banks to serve clients in a coordinated manner across business channels, to deliver an individual product offering (and product packages) and significantly decrease the time needed to implement changes.
- 360° View of the Client
- Personalized product offerings
- The ability to Servie multiple channels
- Flexible Pricing based on overall relationships and bundled fee options
- Operational Excellence
- Shorter time to market
- Centralized and automated processes
- Reduced error rates and maintenance efforts
- Revenue Optimization and Revenue Leakage Plugging
- Increased cross-selling and up-selling
- Improved customer care
- Innovative product offerings
- Limited revenue leakage
- Loyalty Management
- New Comprehensive Products including 3rd-Party Services
WSPK – Core Banking System + Outsourcing
Ness Technologies experts successfully implemented a new core banking system in the Austrian bank Waldviertler Sparkasse Bank AG (WSPK) and subsequently replaced its IT support with the comprehensive outsourcing in all Czech WSPK branches. Ness took over the bank’s IT team and supplemented it with its specialists.
WSPK needed to solve the termination of operational support of the original banking system, which was based on the conditions of the Austrian banking market and was only minimally adjusted to the WSPK needs in the Czech Republic. Ness experts had to introduce the new system including data migration no later than the termination of the original system’s operational support, thus it was a typical time critical implementation.
Within the development of the bank and its services, Ness Technologies experts introduced also the next generation Internet banking, completely rebuilt the Data center including upgrade of the firewall infrastructure and server virtualization.
Services provided by Ness Technologies within the contract
- Help desk, IT infrastructure support, PC and server management, Business continuity and Disaster recovery, security management, management of firewalls and remote access, application support, support and development of the banking system and management information system
- Creation, implementation, management and further development and support of the eBanking system including functionalities for communication with clients and handling their requirements, including clients’ PDF statements in the range of over 100,000 documents
- Management of two data centers with dozens of servers
- IT support for bank employees at the headquarters, branches and other remote locations
The new banking system supported business growth of WSPK in the Czech Republic – growth in the field of deposits and loans, increasing the number of clients and gradual expansion of product offering. The outsourcing enables the bank to use the know-how of Ness Technologies and focus on its core activities.
ČSOB – Development of the Core Banking System
After demanding tendering lasting several months, the ČSOB (Czechoslovakian Business Bank) decided to outsource the support and development of the core banking system to Ness Technologies. The bank expected that this strategic project over a very specific key business system will increase quality and flexibility of the services to its clients. Outsourcing of the core system or its part had previously been unique on the Czech banking market.
ČSOB has 6,500 employees, 3 million clients, 250 own branches and 3,200 Czech Post (Česká pošta) points of sale. In the Czech retail banking it operates under the basic business brands – ČSOB, Era and Poštovní spořitelna (Postal Savings).
Support and development services of the Profile system rank Ness among the strategic partners of ČSOB; the entire project within outsourcing included also takeover of part of the bank’s internal IT team. The bank decided to choose outsourcing also because of cost savings and freeing up its own capacities to pursue activities with higher added value. Ness Technologies was selected on the basis of good experience during 10-year cooperation, know-how in the banking segment, ability to operate and develop business critical applications in the long term and IT outsourcing experience for large clients.
Czech National Bank – Metadata System
Ness Technologies delivered a unique comprehensive information system solution to the Czech National bank, which ensures collection, processing, saving and subsequent presentation of data reports, submitted to CNB within financial market supervision. The system also delivers data for creation of statistics that is used for reporting within EU and analytical needs of CNB.
The defined metadata are used throughout the process, from data input from external resources, processing and quality control, to storage in the database and outputs. The system structure is multi-layered, the database (ORACLE platform) is independent of the factual content of the data. That enables structuring the data according to factual content into more layers and particularly provides easy, clear and fast familiarization with large amounts of data. The data collection process including its pre-processing is fully automated in CNB.
The meta-system provides data from banks, insurance companies, brokerages, pension funds, investment companies and number of other entities and institutions that are covered by the CNB’s supervisory duty. The meta-system allows also collection and processing of bulk transaction data from the field of capital markets.
Ness Technologies experts were responsible for managing the entire project, developing analyses and the concept of the solution, system settings, consulting services, designing conversions and interfaces to external systems, security solutions and also testing, training and operational support.
Essox – System for Leasing and Credit Services
Essox uses comprehensive solution for the management of leasing and credit products delivered by Ness Technologies. Essox offers its services at several thousand trading venues and in hundreds of contractual car dealerships throughout the Czech Republic. Before introducing the new system for support of financial services provision, Essox used simple partial applications without interconnections for calculating leasing and credit installments and the subsequent contract preparation. The opportunity to interconnect, analyze and centrally manage the processed information was completely missing.
To ensure success of the services with its business partners, Essox gave preference to supporting speed and comfort in processing the contracts. The system enables the Essox headquarters to react to leasing or credit applications within 15-30 minutes since the submission by the business partner. The time of the complete customer service was reduced to minimum. The risk of potential fraud and business machinations has been reduced thanks to the thorough origin verification process of the contracts and vehicles. At the same time, Essox benefits from the analytical functions of collected data and successfully uses them to prepare new financial products or special packages.
The electronic system developed on Microsoft technologies includes pricing of the vehicles, calculation of installments and draft of contracts, authorization of leasing or credit contract proposal by Essox headquarters, record-keeping and print, actualization and synchronization of data and the central system administration.
Essox further required that the individual system parts would work both in the on-line and off-line mode. Due to the sensitivity of the processed information, emphasis was put on securing the communication. Another important requirement was ensuring the operation of the entire solution with different technical quality of the client stations and simple and intuitive control of all applications, so that especially Essox business partners could serve their customers quickly and comfortably.
- CEE-wide significant competence in CBS systems
- Flexcube (currently the preferred core banking product)
- Equation (used by three of the top 10 Hungarian commercial banks)
- Specialized knowledge in CBS GAP analysis
- Continuous knowledge sharing
- Fifteen years of experience
- Significant presence in multiple international banks