Source: Sword Apak
United Trust Bank (UTB), a leading specialist bank, has selected Sword Apak to implement a new core banking system. Sword Apak's 'Aurius' application will be deployed over a ten month period, replacing UTB's incumbent third party solution.
United Trust Bank is a specialist bank that provides a wide range of secured funding facilities and deposit accounts. The bank required a modern, flexible and cost effective banking solution that would help UTB to achieve its commercial aspirations for enterprise growth and long-term competitive advantage. "It is important that UTB remains up to date in core banking technology so that we are able to grow the bank, continue to maintain the highest levels of customer service and meet the ever growing regulatory requirement for reporting and monitoring," commented William Dobbie, Head of IT at UTB, who added: "This is why we have chosen Sword Apak to implement Aurius. The system is highly flexible and scalable, so can be easily developed to meet our needs as we grow. Aurius will replace three legacy systems and the middleware that links them together. In addition, a single SQL database keeps costs of ownership down and improves access."
Aurius will empower UTB to launch new products quickly and make them available simultaneously across multiple distribution channels in real time. Advanced workflow management will also enable the bank to streamline its business processes and procedures with greater operating efficiency by assigning, scheduling and tracking work more effectively throughout the organisation. In addition, comprehensive internet banking functionality will provide UTB customers with access to all of their relationships with the bank as well as the ability to make payments, transfers, view direct debits and statements and have secure email conversations.
"We are of course very pleased that United Trust Bank has chosen Sword Apak to implement Aurius," commented Chris Tobey, Business Development Manager for Sword Apak. "Aurius is ideally suited to United Trust Bank and other small to mid-sized banking institutions that are looking for a cost effective, flexible and agile alternative to legacy and traditional banking platforms. We are now working in close partnership with the UTB team to ensure a smooth transition to the new system."