Financial Services solutions
Streamline and secure information exchange with clients and corporates to create a differentiated digital experience
Driven by digital transformation, the Banking and Insurance sectors are undergoing unprecedented change. Delivering on client expectations, while mitigating risk and managing regulatory requirements, remain at the forefront for all institutions. Consequently, banks must operate efficiently by eliminating redundancies and finding new ways of growing revenues. To survive and thrive in the digital economy, Financial Services institutions must address three success factors: Manage and safeguard data, deliver personalized client engagement and secure information exchange.
OpenText™ Business Network delivers a cloud-based, modern backbone for straight through processing and secure information exchange to help organizations accelerate time to value for clients; secure, manage and exchange data; and improve operations to better serve customers while mitigating compliance risks.
OpenText Business Network for Financial Services overview
Business Network streamlines and secures information exchange across an extended ecosystem of banks, insurance firms and corporates to simplify inherent data exchange complexities and accelerate time to value. Providing the necessary digital foundation, Business Network offers Financial Services institutions the critical business insights that help manage fraud, reduce data breach risk and spot opportunities.
Business Network delivers value beyond managing the IT complexities of information exchange, offering measurable impact to bottom line savings, topline growth and overall process agility.
OpenText Financial Services solutions features
Any-to-any information exchange
Accelerates client onboarding with flexible connection options and broadens format support to meet unique client system needs. Offers a single connection to take care of all exchange protocols, file formats and security requirements.
Built-in compliance and security
Uses built-in protocols to fully secure data, whether at rest or in transit. Identifies cyber fraud, mitigates cyber risk and supports regional data sovereignty regulations.
Scalability and flexibility
Leverages the proven scale and global reach of OpenText Business Network. Connects any number of participants to collaborate effectively, whether using cloud, mobile, on-premises or hybrid implementations.
Data aggregation, enrichment and validation
Aggregates data from multiple sources and combines them into a single file before processing. Augments data with information such as bank identifier codes or international bank account numbers. Pre-processes inbound messages to validate against treasury management standards before distributing to clients.
Realtime payment delivery
Enables realtime payments within the direct clearing community and provides access to applications mandated for compliance, while minimizing disruption to current systems. Creates an API library for realtime data transfer and payments.
Uncovers data trends and identifies anomalies and risks with self-service access into all information exchange and data movement.
Tracks communications with point-to-point digital fax that is traceable, auditable and secure for the exchange of PII, loan applications, trade confirmations and more.
Managed services delivery
Extends internal resources and offloads integration and data management complexities to OpenText experts to keep focus on core business and strategic projects.
OpenText Financial Services solutions benefits
Improve client relationships and develop a seamless banking experience with easy and rapid data integration, especially during initial onboarding and implementation.
Increase business insights
Capture and retain information in a single data lake to identify new opportunities for growth and deliver an improved client experience.
Redefine business models and value
Expand the API library for Open Banking to offer next-gen banking services, and balance data accessibility with the data security required to support digital banking. Accelerate client onboarding and improve client experience with direct connectivity and third-party integrations with out of the box or customizable integrations to legacy applications.
Comply with existing and emerging international data privacy laws and enable safe business transactions around the world using OpenText global compliance investments and audits.
OpenText Financial Services solutions
- Bank-to-Corporate integration
OpenText manages new client onboarding with flexible communication format and protocol options, speeding time to revenue for banks and improving client satisfaction.
- Straight through processing (STP)
OpenText STP for Securities is a scalable messaging platform for securities and capital markets, providing end-to-end trade processing from order entry to order settlement.
- Financial information exchange
OpenText™ Business Network helps Financial Services organizations securely store and exchange information to keep data secure while improving business processes.
- Corporate Treasury-to-Bank integration
The OpenText Treasury Management solution manages all aspects of connecting to multiple local, regional and national banks for a single view of banking operations.