At a glance
Integrate, automate and aggregate your core banking system
Solution category
Banking CRM servicing platform
Geography
EMEA
Built by
BBD
The Challenge
Banks running on Vault Core require customer servicing and CRM workflows that sit on top of the core banking platform. Unfortunately, the large proprietary CRM solutions available often have limited flexibility, little customisation and require expensive specialist product consultants.
BBD’s Bank Client Servicing Platform (CSP) gives banks a set of predefined service blueprints that integrate seamlessly with Vault Core, are built on open standards and incur no licence fees or vendor lock-in. The blueprints include those for a single view of a banking client’s profile, first contact resolution (FCR) servicing case flows and longer running servicing flows, for example transaction disputes and card cancellations.
The Solution
CSP provides a rapid solution to the CRM and servicing workflows banking clients require when utilising Vault Core.
Highly customisable with zero licence fees, CSP delivers out-of-the-box blueprints and a flexible application that can be rapidly integrated and adapted to suit each banking environment. The solution ultimately enables a faster time to market, improved servicing, full audit trails and end-to-end real-time reporting.
CSP consists of a modern technology stack that makes use of containerised, event-driven microservices-based architecture, built on open standards.
Benefits
License free
BBD’s platform is licence-free meaning no vendor or product suite lock-in.
Open standards
CSP is built using standard frameworks and programming languages removing the need for, and cost of, specialist engineers.
Highly customisable
With out-of-the-box blueprints that can be adapted and built on top of, CSP enables consistent, reliable and intuitive customer experiences that suit each bank.
Faster time to market
As an accelerator, the platform rapidly delivers seamless digital experiences while integrating, aggregating and automating services.
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A diagram of how the solution works
How the solution works
BBD’s Bank Client Servicing Platform acts as a workflow and service management engine that supplies rails to push case-based work through the necessary organisational processes from inception through to completion, providing a single, 360° view of each customer.
CSP integrates seamlessly into Vault Core and provides the screens that show all relevant CRM, transaction and case-specific data. This removes the need for swivel chair integrations where agents waste time switching between systems to resolve a single query. CSP allows for both quick and long-running transactions alongside numerous user tiers and business units.
As an accelerator, CSP is designed to live in parallel with existing monolithic systems and allow organisations to quickly implement innovative banking products while improving agent and customer experiences.
Because the solution is highly customisable, BBD’s development team designs the rails around what will result in the best, most efficient outcome for the desired operations. Organisations do not have to adapt their processes to suit the platform.
To expand on this, CSP comes standard with the likes of sample client service workflows, escalation and notification, case suspension, parent/child dependency cases, ring fencing and full audit trails. With this in place, BBD’s team partners with the bank to implement the capabilities required for each unique setup. Such client-specific implementations include account onboarding and sales, KYC, collections, Quality Assurance, card management, product operations and client servicing. This flexibility allows banks to define their workflow and orchestration in a fit-a-purpose manner.
CSP can integrate with the likes of telephony systems, SIP and VOIP, email, USSD / instant messaging, workforce planning, WhatsApp and chatbots. From a security perspective, CSP includes authorisation, authentication and access control, customer user store and administration, ADFS integration, OpenID Connect and OAuth 2.0, as well as security admin, workflow security sync, and security sync services.
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Mainstream banking solutions are often rigid around custom development, and our clients balked at the need to adapt their processes to suit expensive and complicated out-the-box solutions.
Thought Machine’s Vault Core is agile, quick to implement and cost-effective when installing, configuring and implementing.
Combining this with what CSP provides for servicing clients results in an overall solution that empowers financial institutions to rapidly create and deploy innovation into the market at a fraction of the cost of traditional implementations.
Learn more about BBD’s automation and orchestration accelerator and see how our accelerators have assisted digital banks
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