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The next-generation consumer banking solution

by internationalbanker

By Anna M. Lik, Business Development Center, Comarch SA

The financial crisis that shook the world’s economy in the summer of 2007, has led to today’s banks and financial institutions fighting to provide the best service to customers. They now need responsive financial solutions, design to support and deliver the optimum level of efficiency and customer relations.

Old fashioned financial solutions are unable to cope with the complexity of today’s increasingly organised financial markets. Banks are always on the lookout for well-established, robust and flexible banking solutions to support their trade which is going through unparalleled change. They want to be able to deliver information to customers in a consistent and cost effective medium, whilst converting large volumes of data into actionable information.

The economic downturn also resulted in stronger competition in the financial services sector, a move that has forced banks to reduce their expenses and introduce changes to enhance their customer service programs. Innovative IT solutions are the answer to these requirements. They can increase the bank’s effectiveness by automating the majority of the banking processes.

Comarch Headquarters Krakow  (2)

Comarch Headquarters, Krakow

Comarch, one of the leading providers and integrators of IT solutions in Central Europe, has been helping companies and institutions to achieve greater profitability and advancement in their industries for 20 years. They offer a wide range of innovative IT products, solutions and services that can efficiently optimize customer service, sales and the information workflow between organizational units.

For two decades Comarch has gained a broad experience in key economy sectors such as telecommunications, finance, banking & insurance, services, public administration, industry, health, and SMEs, having successfully completed over 3000 projects for the largest Polish and global brands.

Comarch Financial Services is the company division that specializes in designing, implementing and integrating solutions and services for banks, insurers, asset management companies, pension & investment funds, brokerage houses, and other financial organizations. Every year Comarch launches new products for the financial sector that meet expectations and requirements of the financial market players.

In order to stay ahead of the competition financial market players must adopt new technologies as quickly as their customers do. Nowadays, the market is strongly influenced by the increasing number of mobile devices used on a daily basis – mobile devices determine not only customer lives, but also main banking channels. Customers expect accessible and flexible banking that allows them to perform any operations at any place and time. Therefore, banks must focus on efficient assistance and accurate offering – two crucial elements of customer relations. Personalized services are a key factor of success as they address customer needs at the right time. To make an offering well-tailored to customer’s expectations, banks must collect and smartly use a large volume of data with the help of innovative comprehensive IT tools. The solution that is ready to meet all of these challenges is Comarch Smart Finance.


Comarch Smart Finance 

Comarch Smart Finance is a next-generation consumer banking solution combining internet and mobile banking, personal financial management and smart offers in one powerful end-to-end customer acquisition and retention tool. Apart from transactional banking modules, the solution analyses customer financial habits and predicts monthly cash flows. Owing to such mechanisms, customer personal preferences are recognized and the bank offering is customized individually. Customers are satisfied as they receive relevant, highly personalized offers without unwelcome sales pitches. Comarch Smart Finance also includes the investment advisor functionality, which manages customer relationship and selects the right investment product according to customer expectations and abilities as well as monitoring their investments. It optimally combines CRM and investment advisory.

Benefits of implementing Comarch Smart Finance are numerous. The solution makes sales more effective as it allows for addressing individual customer needs with relevant offers. It helps to win customer loyalty since highly personalized offering can build long-lasting relationship between banks and their customers. As Comarch Smart Finance allows for tracking the user expense paths, banks can use that knowledge to prepare cross-selling offers the customers will be happy to benefit from. The solution also enhances the online banking experience. It aims at limiting cash transactions and supporting online banking instead of ATM withdrawals. All operations can be performed in an easy and efficient way that helps to limit personal claims and call-centre customer inquiries. Besides, what is also important, the implementation of Comarch Smart Finance supports building better brand awareness and confirms the bank status as an innovative, customer-focused and forward-thinking institution.

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