International Financial Systems (iFinancial) announce the introduction of iBank Interactive as a replacement for its long-standing iBank version 2 internet banking solution.
In terms of technological changes iBank Interactive has been entirely rewritten in ASP.net and has a completely modernised look and feel.
As well as enhancements to existing functionality the most significant development is the introduction of the iBank Connector (IBC) which is a middleware layer that sits between the iBank User Interface and any legacy back office system.
IBC enables the Bank's customer to enjoy a real-time experience when managing their account(s) even if the back office system is an overnight system. It enables any bank to introduce Straight Through Processing in respect of BACS, faster payments, CHAPS and SWIFT payments and integrates seamlessly into both of these networks. Additionally it is capable of processing the bank's agency clearing without the need for re-entry of the data. A simple mapping exercise is all that is required to integrate IBC to any back office system thereby avoiding rekeying of transactions that have occurred in IBC.
As part of the improved security features iFinancial have introduced random keypad PINs and have given their banking customers the option to send a time-limited one-time use SMS PIN to the customer's mobile phone as part of the logon procedure.
iBank Interactive is currently being installed at its first customer site, which is an upgrade from iBank version 2. Further installations are planned.
Terry Day, Managing Director of iFinancial said, "We are aware that the days of showing customers last night's closing balance over the internet have long since passed. Consequently we are extremely pleased to be able to introduce this significant release of this well-established product. Not only are our existing users delighted with the new functionality that is available to them as part of their existing software license but it also gives new customers the opportunity to cost effectively breathe life into their legacy systems giving banks of all sizes the opportunity to compete equally in the internet world."