Building Societies
The Building Societies are financial institutions owned by their depositors and borrowers (their members), primarily providing loan products to them, especially long-term mortgage loans, as well as conducting deposits and wider banking services, just as regular banks do.
Netcompany-Intrasoft can help building societies to evolve with their digital modernization journey and to highlight their strength in core banking replacement by driving simplicity and efficiency, thereby enabling them to introduce new and innovative products more quickly to reduce operational costs and offer an enriched digital experience for their members. Mortgages and savings are PROFITS® Core Banking’s core businesses, that help building societies enhance their member’s expectations and win against their competitors.
With Netcompany-Intrasoft’s Loan Ecosystem, based on PROFITS® Core Banking, building societies can efficiently manage their members’ loans in a member-centered environment, covering all types of loans and all loan-servicing operations required by the standard banking practices, as well as managing the entire loan lifecycle starting from loan origination and credit appraisal to servicing the loan and account closing. The solution provides robust functionality for SME and mortgage loan origination through a data-driven, and advanced-decisioning making platform that modernizes procedures and access to data and processes. Netcompany-Intrasoft’s loan origination process is a robust and frictionless solution to eliminate unnecessary steps and integrate related actions, providing building societies with the ability to reach out to both current and prospective members.
Netcompany-Intrasoft embraces an open architecture approach that enables an open APIs centric philosophy and leverages open banking standards to give a single, seamless experience for the members of building societies. The solution allows building societies to build and make available new products, new services, and new customer journeys through an omnichannel philosophy that enables their services to be easily shared with external entities and to consume services from third party providers, utilizing best-in-class digital technologies.
Introducing core banking on the cloud gives a building society the opportunity to achieve multiple objectives, such as reducing costs, increasing agility, flexibility and scalability, and accelerating growth, all at once. Netcompany-Intrasoft can help by removing IT maintenance, server hardware, and power consumption costs, as well as by automating operations and workflows, and ensure rapid deployment. PROFITS® Core Banking on Cloud SaaS provides configurable components through which building societies can tailor products and services across all channels.