Industries
Financial Services
The financial services industry has undergone considerable consolidation over the past several years. In addition, organizations that once offered only a narrow set of services now provide retail banking, corporate banking services, investment and trade services, life insurance, and a host of other sophisticated products and services.
To meet the challenges of the changing marketplace, Financial Services firms are focusing technology solutions on four areas:
- Cost reduction through improved process efficiency
- Integrated customer service across product lines
- Faster introduction of new product and services into the marketplace
- More efficient regulatory compliance.
Improved Process Efficiency
Recently, the drive to improved processing efficiency has been most visible in Straight Through Processing (STP) initiatives. While the term "STP" has become somewhat overused, the concept of increasing financial transaction processing capacity at a reduced unit cost is very much a corporate goal.
The Agentis Software Goal-Directed technology platform enables the objective of exception-based process automation solutions. Organizations can use Agentis technology to transform legacy applications gaining greater automated transaction processing capability while reducing the need for manual intervention.
Integrated Customer Service
In the face of decreasing margins and intensified competition in the marketplace, financial service institutions have increased their efforts to view customers at an enterprise level and provide opportunities to cross-sell, up-sell and enhance the overall customer relationship.
While CRM solutions allow the enterprise view of customer relationships, the Agentis technology enables customized treatment of customers on a large scale. For example, conventional technologies allow the implementation of tiered pricing models for groups of customers. In contrast, Agentis would allow deployment of a pricing engine that could dynamically determine a customer price and handling approach for every client based on a set of business policies & rules and circumstances.
Faster Introduction of New Products
The business and competitive environment for financial services companies is also driving a need to innovate new products and services like never before. With the rapid standardization and commoditization of core products, the desire and need to differentiate has escalated. The ability to bring new products to market quickly is crucial even if the competitive advantage gained is fleeting.
Agentis technology is especially suited to this problem. The model driven architecture not only lets solutions be designed in business terms, but there is no wait to create the code as the Agentis application is created directly from the business model! Because the technology is based on goal-directed intelligent agents, the core ingredient is the business goal. A known commodity even in the dynamic environment of new product creation. The easy adaptability and maintainability of the Agentis business models pairs well the constantly changing and evolving business requirements that characterize a new product launch.
More Efficient Regulatory Compliance
Sarbanes Oxley, The Patriot Act, Basel II, GLB and other regulatory and compliance demands have accelerated the need for financial services institutions to be both scrupulous and transparent in their recordkeeping processes.
Agentis solutions are in production at several financial services firms and have already proven their value in validating systems changes and auditing configuration records.