Powering FinTech with Extended ECM

By December 13, 2021December 14th, 2021News

The financial industry is seeing greater demand for enhanced digital experiences for members while improving core processing systems for more rigorous security and compliance. Two years ago, our financial services customer began its digital transformation journey to meet these two challenges simultaneously.

Powering FinTech with Extended ECM

By VeOtis Brooks

Principal at Alitek Solutions

The financial industry is seeing greater demand for enhanced digital experiences for members while improving core processing systems for more rigorous security and compliance. Two years ago, our financial services customer began its digital transformation journey to meet these two challenges simultaneously.

Our client desired a robust solution to support their vision of improving the customer experience through connecting information across their organization to the systems and people who need it. Near real-time core processing systems integrations, flexible content capture & OCR automation, and seamless integration with Microsoft 365 support the centralized information management driver.

In early 2021, our customer selected the OpenText Extended ECM platform and Alitek as strategic partners to achieve their information management objectives in the digital journey.  The OpenText Extended ECM platform significantly improved deploying this information management strategy.

Alitek led the design, architecture, and deployment of the OpenText Extended ECM solution to extend document management, collaboration, archiving, records management, compliance, and workflow to their FinTech ecosystem. Collaborating with the customer team, Alitek delivered an adaptable ECM solution that connects information across their enterprise to the applications, systems, and groups that require it.

Several drivers framed the decision to incorporate ECM to power their FinTech Ecosystem. These drivers presented challenges, a breath of solution options, and the promise of value-added services. At the forefront was centralized information management complemented by better governance and compliance. A centralized approach was crucial due to the increasing business content volumes, evolving core systems, and rapidly expanding data and content providers.

A flexible architecture and integration model was the foundation for extending the ECM solution to the core processing systems and data providers. The strategic partnership produced a solid ECM solution that adapts, allowing our client to continue their digital transformation journey. The solution realization and strategic alliance have significantly improved governance and compliance while powering their core processing systems.

Our client’s digital transformation for its members and core banking systems continues to advance. With the power of the Extended ECM platform, they can continue to build, enhance, and grow their FinTech Ecosystem, evolve the information management strategy, and expand their digital banking presence.

For more information, visit us at https://alitek.com/industries/financial-services-fintech/.  To discuss how Alitek can position your organization to improve the ROI of their technology investment, improve efficiency through the correct information at the right time, and improve effectiveness through faster, more informed (evidence-based) decisions, contact us directly at [email protected].

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About Alitek

Alitek is a leader in information based digital transformations. We help organizations improve business outcomes, increase efficiency, and reduce risk, through better management of information. Our experienced team works with you to build a unique strategic plan based on your specific needs, no matter the size of your company.