Fleming Premier Banking has installed a new, core, retail and commercial banking system from Apak Systems.
Fleming’s existing inhouse retail banking system was designed for a small range of products, a limited number of customers, and was restricted to telephone banking in sterling only.
"We wanted to introduce banking via the Internet and offer the facility for multi-currency transactions," says Piers White, retail banking director for Fleming. "The only way we could have the capacity and flexibility to do this was to install a new banking system," he says.
After an extensive search Fleming chose Apak Systems to install its Ovation solution, a full customer-based, front and back office banking system for Microsoft Windows NT.
A system feature that Fleming specifically requested from Apak was complex ‘grouping’ functionality, which allows the bank to set up multiple accounts for its IFA customers who look after money on behalf of individual clients. Accounts can be grouped according to currency, charging structure, interest rate and interest rate frequencies. The facility is designed to reduce the IFA’s administration overhead.
Fleming's online banking service is due to be launched this summer.