BEP Systems, the financial services software house, has launched a fully online savings origination module as part of the continuing development of its Apprivo2 platform.
The new module will allow banks, building societies and new entrants into the savings market to originate and open variable and fixed accounts, ISAs, notice accounts and bonds. It can also be used to improve and expand their product offering and to quickly launch new accounts to market.
The digital process includes full data capture, electronic Know Your Customer (eKYC) and signing of applications forms via e-signatures allowing accounts to be opened instantly online without any paper.
BEP’s Application Program Interface (API) in Apprivo2 has been extended to accommodate these savings data sets and all data will pass seamlessly to the bank or building society’s internal engines for ongoing account administration through bespoke workflow processes.
Many small and niche savings providers are now entering the market and offering highly competitive rates to savers, this coupled with traditional High Street banks rationalising their branch network, a fully online solution will be very attractive to customers and banks alike.
Chris Little, Managing Director of BEP Systems, said: “I’m excited to announce the launch of a 100% digital savings system to help banks and building societies offer a fully online savings solution for customers who find it preferential to conduct their finances online, or can’t access local branch service due to their location.
“We are currently talking to several savings providers about introducing the system and they are interested in how the new module can fit seamlessly with back office legacy systems and allow them to expand their product portfolio and get new savings accounts quickly to market.
“Our customisable Apprivo2 platform has been developed for this savings solution, making it one of the most adaptable and fastest growing systems of its kind in the UK financial software field.”
"Im excited to announce the launch of a 100 digital savings system to help banks and building societies offer a fully online savings solution."
DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.