Archive | March 12, 2017

The Importance Of Quality Banking Software

Perhaps as never before, the necessity for excellent banking software has become evident. Retail banking requires a client-focused approach that will attract new customers and maintain them in a long term business relationship. One way to ensure customer satisfaction has been to guarantee rapid response to questions as well as information-gathering for business transactions. New banking software technology can provide broad retail functionality while it supports various multi-channel models simultaneously. Scalability and resilience are also important features in quality software for banking needs. New core banking applications need to be able to address and support merger and acquisitions activities.

A new concern has been raised by the recent financial collapses within the banking industry. Astute attention to collateral management might have played a positive role in averting some of the humiliating losses that occurred and adversely affected so many smaller banks and loan institutions as well as the customers they represented. Quality banking software is being developed to include systems that monitor collateral descriptions and types. It will have the capability of maintaining customer information, collateral data, and credit count relationships. This will be a significant part of any core banking application program.

Excellent financial software is also available for corporate and correspondent banking requirements. This software can introduce new business models as it responds speedily to ever-changing market conditions. It can reduce costs and identify and manage the risk factors at work, as well. In collateral management, this feature will assist in recognizing collateral shifts in value before they can cause significant damage. An excellent banking computer program will be flexible enough to include new products as they become available and should improve the overall efficiency of the banking business. All of these improvements should add value to the customer relationship which, of course, is paramount.

When one thinks in terms of universal banking, the amount of information that must be gathered, processed, re-calculated regularly, and stored is mind-boggling. More and more banks have chosen to simply out source some of this mass of data collections, including information in collateral management, rather than handle it in-house. New technology will allow for broader functionality in the banking service. Various different kinds of banking products will be able to move across all kinds of channels, especially on the international level. This agility will enable banks to compete with the large international financial institutions that venture into their markets.

When considering the best in banking software, one must look at its “functional richness” as well as its scalability and flexibility. It must be adaptable to the latest in open technology, and it should include a system- connectivity with collateral management. Customers today want as close to real-time views as possible. They want quick access to their counter-party’s collateral and exposures. The ability to function with broad and sweeping informational strokes will strengthen the attractiveness and competitiveness of banking operations for the approaching years.

Online Banking With Rbs

With the advent of online banks banking has been simplified and made so user friendly that people can carry out financial transactions from the confines of their homes the only requirement is a computer with internet connection. RBS online banks are the pioneers in this new technology.

With the RBS Online Banking, customers can safely and securely manage their money when it suits them. The Royal Bank of Scotland (RBS) is one of the retail banking subsidiaries of the Royal Bank of Scotland Group plc, and together with NatWest and Ulster Bank, provides branch banking facilities throughout the British Isles.

To support the positioning of the bank as a global financial services player as opposed to its roots as a national bank, Royal Bank of Scotland started to use the RBS initialism in 2006 to move away from referring to both the Group brand and its retail banking brand. The Daisy Wheel logo, an abstract symbol of 4 inward pointing arrows, was adopted by RBS subsidiaries Ulster Bank in Ireland and Citizens Financial Group in the U.S.

As a global financial service for its customers, RBS now has online banking services referred to as Digital Banking. You can do your banking needs anytime, anywhere as long as you have a computer and internet access. Customers can save time when they check up-to-the-minute balances and mini statements, with Digital Banking. You can also stay on top of your finances by having the ability to check your limits and keep track of your spending at any given time of the day, at any given day of the week. Digital Banking also allows you to move your money instantly between RBS accounts any time you need to. You can also settle your bills, make payments, and manage standing orders whenever you like, wherever you may be. You have quick and easy access to your online statements to up to 7 years worth of transaction history. No more rummaging through your files and paperwork at home. You can also access the current bank rates with Digital Banking. Customers can safely do all these and much more online thanks to RBS advanced security systems that provide added protection for your money through free software they provide.

You need to be 16 years of age or over and have an RBS current account, credit card, savings account or loan to sign up for Digital Banking. Learn more about RBS Online Banking by visiting their website.