Banking Automation is transforming Financial services. The high degree of scalability makes the bank more cost-effective to scrutinize transactions SimplyFI provides Smart, Swift, Secure Banking Automation Platform for Financial Institutions.
Changing Business Model
Changing business models in banking refers to the shift from traditional, branch-based banking to more digital and customer-centric approaches. This includes the adoption of technology-driven services, such as mobile banking, online platforms, and personalized experiences. Banks are reimagining their strategies to meet evolving customer expectations, increase operational efficiency, and stay competitive in the rapidly changing industry
Security Breaches
Manual Error
Manual errors in banking include data entry mistakes, transaction processing errors, and compliance and documentation inaccuracies. These errors can result in financial discrepancies, customer dissatisfaction, and regulatory non-compliance.
Complex Onboarding Process & Lengthy KYC
Time-consuming software in banking refers to applications or systems that require excessive manual data entry, complex
Outdated Mobile Experiences
Outdated mobile experiences in banking refer to mobile applications or platforms that lack modern features, user-friendly interfaces
Increasing Competition
Increasing competition in banking refers to the rise of new entrants, such as fintech startups, challenging traditional ba
Regulatory Compliance
Regulatory compliance in banking refers to adhering to laws, regulations, and guidelines set by governing bodies to ensure financial stability, protect customer interests, and prevent illicit activities such as money laundering and fraud. Banks must establish robust compliance programs, conduct regular audits, and maintain accurate records to meet regulatory requirements and avoid legal and reputational risks. Failure to comply can lead to penalties, fines, and damage to the bank's reputation.
The banking industry is facing numerous challenges brought about by advancements in technology. These challenges include increased competition from fintech startups, changing customer expectations, and the need to comply with evolving regulations
By embracing digital transformation, banks and credit unions can leverage innovative solutions to overcome their challenges and stay ahead in the current landscape.
One major advantage of digital transformation is the ability to
improve operational efficiency. By adopting innovative solutions
such as cloud computing, artificial intelligence, and robotic
process automation, banks can streamline their operations, automate
repetitive tasks, and reduce costs.
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SIMBA is a global Trade Finance Automation Platform for banks that automates International Trade Document Scrutiny using blockchain technology. It converts non-digitized trade documents into machine-readable formats, streamlining processes, reducing errors, and improving efficiency
Automated compliance check and validation
Manage required compliance checks and data validation through a single solution
Extract and auto classify trade documents
Market statics growth & advance analysis
ML validated reports
Generates AI-enabled reports, post-analysis of trade document checking against LC
Our Video KYC solution simplifies the KYC process for bankers, saving them time and effort in verifying customer identities. Additionally, customers benefit from the convenience of completing their KYC requirements from the comfort of their own homes.
Reduction in time taken to complete kYC
Higher accuracy
Security ensured because of encrypted data
Store recording with a date-time stamp
AI-based face match tool
Competitive advantage over others
INVOIZO is Asia's first Invoice Discounting Marketplace that leverages Blockchain and AI. It provides businesses with a consistent flow of working capital by enabling quick and easy trading on the digitized platform, supported by efficient e-KYC processes
SimplyFI provides banks with products, services, and solutions that provide each individual customer’s needs. By automating manual tasks and using Blockchain Banks can reduce human errors, streamline interbank transactions, and cross-border payments, and can also improve Trade Finance Operations.
SimplyFI
A fusion of trust, transparency, and security. Experience seamless data exchange, safeguarded privacy, and enhanced patient care through our innovative blockchain solutions, revolutionizing the future of healthcare.
