Independent Banker - June 2022 - 64

ADVERTORIAL SPOTLIGHT
GUEST EXPERTS
Innovation
3 Technology Innovations for Community Bankers to Consider
A recent online core provider
assessment, conducted by IBT Apps,
revealed that while a majority of
bankers are satisfied with their core
provider, they've reached a plateau in
terms of profitability. Although bankers
may not be experiencing problems
with their core technology, they are
also not expanding their product
portfolio and, therefore, are open to
adding on new offerings. With so many
options available in the market, we want
to help bankers by sharing a few key
technology innovations to consider.
Open Banking
Open Banking is a system where
banks use application programming
interfaces (APIs) to allow third parties
access to the financial information
needed to develop new apps and
services, which provide customers
greater financial transparency options.
When a customer requests to view their
account balance from inside a banking
app, an API is used to retrieve that data
and display it to the customer, instantly.
revenue opportunities, and expanding
customer reach. Just keep in mind
that vendors with true Open Banking
must have an open API that allows for
adaptability for integrations of your
choice. Additionally, there should be
security measures in place, so that a
customer's data stays protected.
WHETHER YOUR GOAL IS TO
GROW YOUR BANK OR MAINTAIN
COMPLIANCE, YOU NEED TO
ENSURE YOUR CORE SYSTEM
INCLUDES MODERN REPORTING
Online account opening
Many banks have been working
diligently to leverage digital capabilities
that would bode the same customer
experience in-person as well as online.
Such was the case for our client, First
National Bank of Las Animas (FNBLA)
who was seeking a platform that allows
customers to open new accounts from
anywhere.
By partnering with IBT Apps and Alkami
Technology, Inc, FNBLA was able to
develop an intuitive approach to digital
account opening for accounts and
send those records directly to the core.
The partnership helped accelerate their
customer acquisition online, reduced
the time and labor to open new
accounts, and enhanced their identity
verification process.
Open Banking can yield many benefits
for bankers including streamlining
back-office functions, increasing
Dynamic reporting
Reporting features in a core system are
often limited to certain data sets, users,
and sharing capabilities. Whether your
goal is to grow your bank or maintain
compliance, you need to ensure your
core system includes modern reporting
that offers efficient, customizable, and
automated reporting at all levels.
IBT Apps offers both a Simple Report
Writer and Experts Report Writer for
unlimited report building. With these
tools you get access to 300+ free
reports with the capability to run
reports your way.
Getting Started
Once you're ready to explore new
options for your bank, talk to your
provider about the possibilities
and how those will work with your
current system. Ask about available
integrations, the process of onboarding
new ones, and any associated costs.
If you encounter any roadblocks,
connect with us.
About IBT Apps
IBT Apps is an empowering core
partner to community banks
nationwide, offering end-to-end core
and digital banking solutions that meet
today's customer demands. Developed
with an open API integration, their
adaptable i2Suite® banking system
streamlines operations, controls cost,
and mitigates risk. Learn the power
of one total solution. Contact us at
go.ibtapps.com/connect-with-us
Phil Layher, Director of Business Development
phil.layher@ibtapps.com
512-616-1188
www.ibtapps.com
http://go.ibtapps.com/connect-with-us http://www.ibtapps.com
Independent Banker - June 2022

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