The accelerated pace of societal change presents a unique opportunity for the financial industry to make bold, innovative, and transformative moves. We have seen the industry incrementally respond to this shift through the incorporation of cloud-based platforms with enhanced offerings to include digital banking transactions, electronic updating of customer information and loan processing.

While these improvements are creditable, many financial businesses have not been able to keep pace with current innovation. This means that, in today’s world, gaps exist in the business’ response to their customers’ needs.

 To address this, an end-to-end solution, which includes fully digital products and services – consistently decreasing processing times, is required for businesses to transform and iterate.  Phoenix International has been in operation since the 1990s, highlighting experience and adaptability.

Here are three reasons why a core banking cloud platform produces results:

1. THE CUSTOMER’S NEEDS ARE MET

As society progresses, attitudes, norms and innovations also shift. Today, convenience dictates product acceptance by each generation. Gen-Z and Millennials are accustomed to fast results, and artificial intelligence. As such, they have little to no patience for long waits and lengthy processing times – making brick and mortar processes and legacy systems obsolete in their view.

This presents an opportunity for financial businesses to use Phoenix International’s core banking solution to address the expectations of this and other customer groups – ensuring the business’ ability to remain a going concern.  

Phoenix’s solutions can positively impact an individual’s day. Our Internet banking product offers rapid, secure, easy transfers and other transactions. Intelligent ATMs accept deposits, payments and disburse cash and loans, if needed.

 In terms of internet banking, the complexity of multi-step and in-person account opening, and daily bank transactions can be a deterrent for many customers interfacing with financial institutions.

We enhance customer interactions with a digital solution that is accessible through a variety of channels, including websites and mobile apps.

2. YOUR COSTS ARE REDUCED, WHILE EFFICIENCY RISES

Core banking platforms like Phoenix International are a dependable option for running responsive, customer-centric businesses, while lowering operational costs and increasing efficiency.

Our cloud platform is built on Microsoft technology and provides a view into your business processes, with services that go beyond banking to include dynamic reports, customer information management, and more.

Reducing cost footprint is one of the satisfactory ways that financial institutions find from investing in a cloud platform. With less customers visiting branches, it reduces the number of physical locations. This allows you to recast your budget to allow investment even more strategic and innovative tools to serve your customers even better and improve your bottom line.

The new opportunity to offer services from anywhere in the world also means more remote work arrangements for staff, which drives productivity and facilitates a motivated workforce.

 

3. GREATER SECURITY

Less physical transactions imply carrying less cash, which is an appealing security factor for concerned customers. Our mobile wallet and internet banking solutions are just two products that testify to the enhanced security and peace of mind that we offer.

We understand that advancements and technologies are still being developed, but when compared, the cloud shields a consumer from malicious attacks. Phoenix International’s Core Banking Platform is therefore a secure and reliable system with iron-clad security monitoring. 

For instance, if a customer recognizes suspicious transactions or logins, then immediately with a notification, the ATM card is frozen, giving time for the situation to be resolved.

Phoenix International is committed to providing innovative and reliable solutions for your business and by extension your customers. Our team of experts and innovators currently service clients in the UK, North America, the Caribbean, Latin America, and Continental Africa. We understand the regulatory needs and cost challenges that often overwhelm financial institutions in emerging markets. However, our platform is affordable, and customizable to suit your business’ needs and the vein of your business – the customer.

The time to begin integrating tested and cutting-edge technologies is now! Visit Phoenix International.io to learn more.

 

Rise above the rest with Phoenix International