The deployment comes as TowerGroup, an independent research firm, claims that US banks are transitioning to customer-centric, real-time capable core banking systems. Early adopters of this technology such as First Command Bank can gain competitive advantage by re-engineering their business processes to provide improved customer service while reducing operational costs, said Robert Hunt, senior analyst at TowerGroup’s retail banking research service.
First Command Bank (FCB) sees the conversion to Fincentric’s technology solution as the first step in its plan to improving sales and differentiating their services. The bank is utilizing the open architecture of its new banking system to transition away from inflexible disparate legacy systems to consolidate data onto one single, integrated platform.
FCB hopes that the new system will provide more control in customizing products and the ability to see complete customer financial information, by receiving comprehensive core banking, deposit, lending and internet banking capabilities integrated across multiple delivery channels to provide a single consolidated view of the customer.