Sanchez has launched a new software system for integrating financial institutions' legacy and new economy systems while providing multi-channel consumer access.
Frank Sanchez, CEO of the company, says the Profile/Xpress product solves the legacy problem "by making it part of the solution".
While generic middleware products function primarily as translation layers between front-end, client applications and back-end, database and operating system hosts, Profile/Xpress not only integrates the front-end delivery channels with the back-end processing environment, says Sanchez, but it also incorporates a universal customer system (UCS) and a financial product distribution hub. These two components supply an institution with the ability to provide its full menu of products and services across all channels.
"Profile/Xpress combines fast, intelligent financial transaction routing with a customer-centric database that presents the customer with an on-line, real-time aggregation of their entire financial relationship," says Dan Sollis, senior VP of global marketing and sales at Sanchez. "Unlike traditional aggregation systems, however, a Profile/Xpress-enabled environment allows customers to make transactions against the information and take advantage of customised services at the point of contact."
Frank Sanchez says the product is geared towards the world's largest incumbent institutions which have merged with or acquired other institutions. "Typically, those institutions operate under a hodgepodge of disparate technologies. They want to respond to the transactional customer, but are risk-averse to migrating their processing platforms under a `big bang,' all-at-once process," he says.