Comarch Open Platform awarded at Global BankTech Awards 2023
Comarch was awarded the title of Best API/Open Banking Platform Provider for SME Banking by The Digital Banker at the Global BankTech Awards 2023.
“Comarch Open Platform incorporates a flexible ‘buy, build & own’ model that enables financial institutions to customize and adapt as needed to meet the needs of the business. It also provides users with the requisite tools to develop and maintain applications in an affective and automated way”, noted The Digital Banker’s judging panel in their verdict.
The solution is the first real cloud-native, fully flexible Digital Banking & Insurance Engagement Platform developed to serve business and corporate clients in an omnichannel way.
Based on our years of experience in conducting technological solutions to financial institutions, we have determined what difficulties they are facing. Nowadays, financial service providers must be much more attentive to customer experience, both external and internal (back office employees). What's more, the dynamically changing environment and the growing number of fintechs are pushing for the need to introduce quick changes to the way of providing service to clients, and the range of available products and additional values.
“We are very happy with the award, as it confirms many years of Comarch’s experience in the SME Banking sector and strengthens our decision to further follow the chosen direction as the one in which the financial sector is heading”, said Andrzej Przewięźlikowski, Vice President, Director of Financial Services Division at Comarch.
The solution embeds a wide range of ready-made business-banking micro applications or services encapsulated in an ecosystem of business values, dedicated for small, medium and large companies, for speeding up their day-to-day work in a frictionless way.
Such prepared and developed solution allows for an easy start of digital transformation, and to smoothly conduct the next phases, with an assumption of a tight collaboration between the vendor and the bank, insurer, and fintechs, with no influence on current operations, while mitigating the higher risks in the entire project.
The fact that the process of cooperation is done with Comarch means that the platform is taken care of from the very first step. Already at this stage, Comarch Open Platform includes a flexible model combining Buy&Build&Own strategies, which provide a number of advantages:
- Buy – the purchase of a licensed product is low-price in relation to the R&D process incurred and a quick time to market
- Build – the solution is flexible and includes built-in customization mechanisms that allow for extensive customization to individual needs. It provides tools and mechanisms for further development – both developer tools (such as full SDK) as well as low-code and no-code tools for non-technical users
- Own – the client takes over the ownership of the most important part of the application – the business pattern, gaining full independence and security
The next stage when users experience our software is the process of its implementation. At this point, we have tried to make our solution, above all, not limiting.
After implementation, the bank has the ability to expand its offerings and include solutions offered by fintech or developed by its own IT resources. We believe that this new approach to the entire transformation with an immediate visible effect will allow more banks to go through the digital transformation, so that they can provide their customers with more flexibility as well as a multichannel and fully online service.
This solution is also vendor lock free. We do believe that the solution should be as elastic as possible to keep up the pace of changing financial world and costumers needs.
The openness of the platform allows for seamless integration with external solutions. Built-in analytical tools supported by the AI model and platform configuration tools give the possibility of continuous optimization of the offered products, services, processes, and their possible automation, but also actively support users by offering personalized hints and suggestions for new solutions – this applies to activities performed by both the end-customer and operational employees using the application – to achieve the highest level of user experience.