Banking solutions in the Cloud

For over four decades we have worked with the financial services sector delivering digital solutions to streamline operations and provide innovative, member-facing banking solutions for our Clients.

From its unique origins the speed and volatility at which change is now being experienced across the sector is unheralded. Margins are being squeezed by historically low interest rates, banking incumbents are being disrupted by digitally charged newcomers, regulators are sharpening their focus and tightening their rules, and members are demanding new classes of products and experiences in order to stay loyal.

Add into the mix the advent of the instant payments, and the looming Open Banking regime, it’s clear that the financial services industry is facing what amounts to a perfect storm of change.

Instead of battening down the hatches and hiding from the storm, we got ahead of it and have been transitioning our flagship Ultracs solution to operate from a Microsoft Azure cloud environment, in a move that will allow us to offer our clients a more superior, flexible solution than the bureau-delivered service can often offer.

Our objective is to present clients with a complete solution that offers ease, value and trust. At the same time users will have access to a computing environment that is more flexible, scalable and resilient.

We give Clients a competitive advantage by making the day to day easy and allowing them to focus on strategic objectives that differentiate them in the market. Offering Ultracs on Microsoft Azure provides a fresh alternative

We have supplied state of the art software solutions for core banking and funds management for over 40 years, including a comprehensive range of channel solutions such as internet and app based banking as fully integrated components of the banking system.  We are also proud of our capability to provide a single view of the member – no matter who is providing service within your institution.

Cloud maturity

The timing is right not only because of challenges facing the banks, but also the maturity that cloud computing has achieved.

Only a few years ago regulators might have balked at the idea of banks moving their core processing systems to the cloud, concerned about issues such as reliability and data sovereignty.

Microsoft Azure’s performance track record and certified security has alleviated earlier concerns, opening the gate for wholesale cloud adoption across the financial services sector.

In the last 12-18 months we have seen the crystallization of this, making cloud a real option that clients are actively pursuing.

We have been running Ultracs in the Azure cloud for several years, using it for client conferences and similar activities. The technical part of the puzzle was solved, while Microsoft’s investment in local trusted cloud services had alleviated earlier regulatory concerns regarding data sovereignty, and suddenly members recognized the potential of a migration to Azure.

Now Clients are the ones driving the opportunity – we’ve made it technically possible, regulations are in place, and we are seeing an industry that is starting to push for it.

Future banking

Built using the Rocket UniVerse enterprise development platform, and written using Microsoft .NET, Ultracs delivers core functionality such as loan origination and management, savings accounts and term deposits, fraud prevention, process automation and CRM. Flexibility is assured through API services allowing clients to plug in additional applications.

You can build an entire bank on one system or plug in new front ends. We are good at what we do – providing a turnkey solution.  And always there is a single point of reference to any one member in the database ensuring enterprise transparency and clarity.

The systems we run and support are for critical financial purposes so they have to be secure and reliable. We have to have the right partners, it’s another reason we are a Microsoft partner – it brings the strength and trust we need.

Being a Microsoft partner also injects additional innovation opportunities for us to have instant access to the array of intelligent Azure services to continually enhance the Ultracs platform.

Ultracs in the Cloud is an outstanding strategic opportunity for financial institutions to position themselves for the future.