Digital banking solutions

Enabling financial services firms to enhance client delivery capabilities

Transaction banking clients all around the globe, whether a corporation, small business or government agency, look to their Financial Services providers for solutions to optimize productivity and profitability. Competition among financial institutions to provide solutions in critical areas, such as treasury management, asset management, securities, group benefits, payroll services and merchant services, is fierce. In a world where client satisfaction and technology innovation become more important every day, a financial institution’s ability to deliver its solutions quickly in a high-quality, automated and cost-effective manner can be the difference between success and failure.

OpenText digital banking solutions assist providers across the Financial Services sector to enhance their client delivery capabilities.

What are digital banking solutions?

Digital banking solutions unlock the value of data to financial institutions. Digitization in the banking industry increases the opportunity for revenue, but it also demands new investments, skillsets and a higher degree of security and cyber fraud prevention. By leveraging experts in data and transaction integration, digital banking services help run, protect and improve the operations of Financial Services organizations.

OpenText digital banking solutions overview

OpenText digital banking solutions enable financial institutions to offload complex connectivity and integration requirements to OpenText, including client onboarding, protocol mediation, file transfer and messaging, banking integration, API management and data transformation. With these comprehensive managed services, OpenText handles the day-to-day management of technical infrastructures, including systems health monitoring, data backup, network management, systems administration, database management and application support.

OpenText digital banking solutions features

Client onboarding

Manages the migration and onboarding of clients and counterparties with a proven and repeatable process that includes connectivity setup, data integration and end-to-end testing.

Network protocol mediation

Supports a wide variety of network and Internet protocols, such as AS2, Secure FTP, FTP/S, HTTP/S, MQ Series and EBICS, as well as dedicated private line connections and Virtual Private Networks (VPNs).

File transfer and messaging

Transmits critical financial information to clients in any messaging standard or file format. Data simply “passes through” the OpenText cloud unchanged, or files can be translated to/from internal application file structures.

ISO 20022 support

Shields the organization from new and evolving standards compliance. Enables corporates to provide rich remittance data via .pain messages or other formats and maintains rich remittance data.

Data transformation

Converts files and messages to and from ISO 20022 XML, NACHA, BAI2, SAP IDOC, Microsoft Excel, SWIFT MT/FIN, UN/EDIFACT, ANSI X.12, ACORD, FIX 4.2 & 4.3, FIXML, ISO 15022 and Microsoft Excel, as well as many other proprietary application formats.

Production support

Operates in a secure, high-availability distributed architecture across OpenText global data centers. Delivers expert people and proven processes to integration projects.

Pre-connected community

Leverages the power and reach of a global corporate client community of more than 800,000 businesses to accelerate time to market and time to value.

“Most technology solutions brought to the market today are consumer-driven and relate to a consumer finance approval and deal flow process—there are a number of providers for this type of service. RBC Overdrive, on the other hand, is designed for the corporate entity and is the only service of its kind today.”

Brenton Trites, Manager of Automotive Financing, RBC

OpenText digital banking solutions benefits

Improve client experience

Accelerate client onboarding with broader format support and OpenText experts. Increase the throughput and reliability of file exchange for a seamless digital client experience. Tighten integration and collaboration with corporate clients.

Control cost

Reduce operational costs by leveraging existing infrastructure and pre-connected clients. Shield the organization from ongoing investments required to stay current with constant standards and regulatory change.

Manage risk

Meet regulatory requirements leveraging OpenText’s continuous investment. Identify cyber fraud and mitigate cyber risk with improved digital monitoring and exception reporting.

Increase revenue

Expand product offerings and qualify for more deals. Accelerate time to revenue and enhance client experience. Drive international expansion.

Enable realtime payments

Enable realtime payments within the direct clearing community. Provide access to applications required for compliance and minimize disruption to current systems.

Support frictionless payments

Support increased velocity and increased volume as digital transactions gain adoption in the corporate world. Expand support for new document and record types.

Gain visibility

Improve monitoring and reporting. Take full advantage of information, regardless of structured or unstructured formats, to unlock insight from data and identify potential fraud.

Global reach

Offer regional data sovereignty and leverage existing global infrastructure and data integration expertise. Support and accelerate global expansion initiatives.

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