Retail banks are increasingly adopting a digital banking approach to support multiple delivery channels across different banking activities. Polaris is helping banks rationalising their technology to reduce costs and adapt to evolving business requirements. Customer experience is becoming a significant influence on banks’ strategies as context-aware computing – whereby situational and environmental information is gathered to anticipate user needs and present relevant information – is creating new user experiences.
Experts in our field
With extensive experience within the banking and financial services sector, we provide high quality technology and consulting services. Our team of over 1,800 professionals include experienced business technologists and analysts. We’ve been recommended by Gartner for our transformational programs and modular progressive modernization, and identified by Forrester as one of the top vendors for providing global banking solutions across six regions.
A full suite of services
Polaris offers a wide range of products, services and solutions, calling on our 25 years’ experience within the retail banking sector.
Retail banks are increasingly adopting a digital banking approach to support multiple delivery channels across different banking activities. Our digital banking services provide a high quality user experience across different interaction points and multiple channels.
- Cross-channel integration: providing a seamless cross-channel experience.
- Multi-channel customer on-boarding and account opening: seamless integration and total process control via a digitized framework.
- Customer experience engineering: industrialized consumer lifecycle management framework.
- Channels assessment and optimization: validating existing capabilities and limitations and supporting the transition of transactions to intelligent ATMs and other digital channels.
Process consulting and transformation
Banks are undertaking digital transformation projects and rationalizing their technology to meet changing business requirements. Our consulting and transformation services are designed to support you in this process, bringing you the resources you need to succeed in today’s demanding environment.
- Operating model re-design: creating a zero-based, fully digitized, operating model to enable straight-through processing.
- Lean operations and technology transformation: optimization of people, processes and systems using Design & Build Lean Operations (DBLO) methodology.
- Re-engineering for modernization: re-engineering systems to modernize and achieve greater reliability, flexibility and scalability.
- Knowledge extraction and wiring: classifying, storing and organizing process information to translate business knowledge to technology.
Core banking and lending
Our team of retail banking specialists has an outstanding track record in supporting core banking systems across a range of technology platforms. A combination of domain knowledge and technology expertise means we are well placed to support your legacy modernization, application consolidation and data migration projects.
- Product implementation: third party vendor package solutions.
- Development and maintenance: ground-up development, integration and support.
- Migration: standard tools to enable a structure migration as well as post-migration support and validation.
- Production support: achieving operational efficiencies.
- Smart legacy modernization: supporting transition from legacy products to service-oriented architecture solutions.
- Global rollouts: replacing disparate systems with a unified technology platform.
Why Polaris Retail Banking?
As specialists within the banking and financial services sector, we understand your challenges and priorities. We’ve built proprietary accelerators to streamline our services, including the Polaris Master Process Exchange (MPX) framework which is used to map individual business processes in granular detail. We can help you achieve your goals with our complete solution proposition, from operating model re-design and process transformation to solution deployment.
A mortgage broker needed a modern system with a range of competitive, innovative features to redesign and standardise processes and reduce service turnaround times. Polaris helped the broker eliminate 50% of manual work and reduce statement printing and dispatch costs by 20%. Other benefits included a reduction in full time employee requirements as a result of process automation, enabling resources to be redeployed to other lines of business.
Polaris was a transformation partner for a leading Australian bank, leading to a 36% gain in capacity with non-value adding activities eliminated and processes categorized, standardized and designed into functional centres of excellence. Forty nine per cent of manual steps were automated, resulting in a 64% reduction in overall transaction processing costs.