Next Generation Banking

By the time you’ll be ready with your software, the market will already have moved on to the next big thing. Not from the bank next door, but from Google, Apple, Facebook or a start-up from a garage.

Built in KYC, AML, GDPR, Reporting

Biometrics, Big Data Science, Artificial Intelligence, Machine Learning, Augmentation of Customer Experience, blockchain ready and zero upfront costs.

Upgrading banks; downgrading costs.

iBanks.com, a software as a service, hosted and secured by Amazon. There are 2 billions customers using Amazon hosted services every day, include States, Federal Institutes, Banks and Stock Exchanges. Why should you take a risk by compromising on less than the best?

iBanks.com. Software-as-a-Service. Pay for results, not for the process

Plug & Play. Ready to go. Zero up-front costs. Pay per Transaction. Blockchain-ready. KYC and AlgoAML built-in. Local and international Regulatory Reports. Advanced General Ledger. GDPR compliance. Innovative business models and built-in money-makers together with an extremely pleasurable customer experience.

All with our Software-as-a-Service, fully controlled and managed by your IT managers, with an encrypted customer database under your IT Department’s full control. The iBank Operating System is Plug & Play, without implementation costs, and with Payment per Transaction.

Upgrade your bank to the top; downgrade your costs to the bottom.

Why is the future of banking technology so important for banks?

Banks that don’t join tech-startups in order to take the necessary steps towards modern banking technology solutions will most likely be left behind.

It will be almost impossible to compete with other startups, and Tech Giants that have already have banking licenses such as Google, Facebook, PayPal and AliPay. Or with competitor banks and Fintech companies that offer cutting-edge digital banking and innovative services.

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A wise step for banks to consider is investing in banking technology and Fintech firms as soon as possible.

It would also be prudent for banks to work with Regulators to agree standards for the new technologies that are being implemented into many banking systems.  

In the long term, those banks that don’t invest in the future of banking technology will be at a disadvantage. Banks need to get on board with the latest banking trends and give customers a much more innovative banking experience.  

Attempting to develop solutions in-house is a sure way to fail. This approach is too slow, too expensive, too complicated, and banks can never be an attractive work-place for the real Tech geniuses.

You see banking as the mainstream money business. They are passionate about building a much wider eco-system. 

Digital bank account opening procedures.

Nowadays banks should be able to onboard new customers from anywhere, remotely, without compromising any regulatory or security requirements.

With the iBanks.com operating system you can remotely open a digital account by going to the bank’s website from your mobile phone, tablet or PC. Then just follow the simple instructions to open your digital account. 

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Businesses applying for a digital account will need their business registration number; tax details; proof of residence; ID or social security number; photo ID (like a scanned passport); an initial deposit and to meet some additional regulatory requirements.

If your company has multiple partners or directors and more than one person will be using the digital account then you will need to supply the contact details of all account users.

Each account user will have to upload their documents and signature to the online application form; state their role in the company; and pass KYC, AML, Big Data, Biometrics and other technology procedures to make sure they are ‘good to bank”.

Cyber Security

When it comes to security, banks have always faced the hazard of cyber-attacks. As these attacks become more sophisticated, dealing with experts who are familiar with core banking software as well as with Amazon Web Services, will improve your security standards as you will benefit from the latest and most innovative security systems.

Cyber Security has a huge role to play in the future of banking technology and needs to be properly implemented. iBanks.com helps you to train your staff to control, monitor, manage alerts, and be the first to know if there is an attempt to compromise your data or an individual customer’s account. 

It’s all about Mobile Forget Branches, desk-top PCs, Account Managers.

If your customers cannot execute payments, investments, loans, trading, FX or savings by mobile phone with your existing systems, they will do so elsewhere.

The new millenials’ loyalty is to whatever is just a click away. iBanks.com makes sure you are tuned to the latest trends, that you don’t wake up too late to catch the wave. We help you to maintain your existing customers’ loyalty, in a way that only a next generation startup can.

Regulation craziness relaxed: KYC and Algo-AML built-in iBanks.com

Regulations have ever more and more demanding requirements, and require faster and more accurate responses.

It’s not because the Regulators themselves have gone crazy; it’s because the challenges and risks they are dealing with became ever more sophisticated as new technologies are abused and cyber criminals become more sophisticated. (Not to mention the traditional Controllers who become money-laundering advisors under the guise of “tax planning”.)

There are many ground-shaking changes in banking regulations coming soon. One of the biggest game-changers is the implementation of the PSD2 (the second Payment Service Directive).

Under PSD2, banks no longer monopolize their client’s payments systems and account data. This new EU regulation requires banks to share information with third-party financial service companies. PSD2 allows individuals and businesses to manage their finances through any company offering those services, while still keeping their money in the bank.

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These third-party financial services companies can use a bank’s data and framework to offer services. In 2019, PSD2 will dramatically shake up the banking sector by allowing financial service providers access to this data. This Directive will advance innovation in the banking sector and accelerate the development of internet payments and security.

Additional regulation changes are occurring with FACTA (Foreign Account Tax Compliance Act), IFRS, KYC (Know Your Customer), and AML (Anti Money Laundering) protocols. The financial landscape is undergoing a drastic shift with these regulatory changes and banks must now rapidly upgrade their technology and move towards innovation. 

Every bank’s operating Systems must be fully-integrated, compliant and up-to-date. That’s where our strategic, built-in core operating solution joins forces with the most advanced and comprehensive KYC, AML and Regulatory Reporting systems.

You do banking. At iBanks.com we make sure your way is paved properly.