Chesapeake System Solutions, an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations, today announced the availability of its IDM Service, a hosted data collection solution.
Designed specifically for the banking industry as a service offering for corporate customers, IDM Service reaches more banks more efficiently and collects current-day banking data at a lower cost than traditional methods. The solution's fast, secure operations derive from advanced Web-based functionality complemented by the latest server technology.
IDM Service allows banks to offer their corporate customers multibank information reporting. In fact, IDM can reach any bank that posts transaction data to a Website and can collect both prior- and current-day data. In so doing, IDM Service overcomes two major data-gathering limitations common to vendors relying on last-generation proprietary data exchange systems. More important, IDM Service delivers these expanded services at a price that is significantly less expensive than competitor offerings.
Because it is a hosted data collection solution, Chesapeake's IDM Service eliminates the privacy concerns corporations raise when contemplating financial data retrieval services through a bank. Since Chesapeake hosts the solution, corporations can be assured of confidentiality regarding both the nature and the scope of their banking relationships. Notably, one of the nation's top banks is already reaping the benefits of offering IDM Service to its corporate clientele.
Peter C. Vogelberger, CEO, Chesapeake System Solutions, says, "Today's banks face a major challenge in cultivating the customer loyalty that is so vital to ongoing corporate business relationships. Companies know that Bank A's services are interchangeable with Bank B's, and they can shop around for the best price. Offering IDM Service is a key differentiator, and perhaps the most strategic business move available to savvy bankers who want to create loyalty and grow their customer base. It is an inexpensive alternative for banks to offer corporate customers, yet gives them a service that competitors without Chesapeake's IDM Service simply cannot match."