What Is Digital Core?
Digital core provides fully integrated front-to-back infrastructure upon which financial services can be delivered. Cutting-edge technology means that your business will be flexible, scalable and efficient without sacrificing reliability.
Integrate 3rdparty solutions securely by API.
Host in the Cloud or on your servers.
Customise your products, features and modules.
Client centric approach improves insight and user experience.
Effective real-time operations 24/7, easy to scale and adapt.
Universal approach across your operations and countries.
Why Digital Core Matters
Financial Services is changing fast, from client requirements to market forces and technology the speed and scale of change are huge. Providers with legacy systems struggle while the digitally advanced gain competitive edge by delivering immediate and long-term benefits.
Improve your value proposition by delivering personalised service across all channels and frictionless online experience 24/7.
Improve profitability by increasing cross-sell, making savings from process efficiency and reducing IT costs.
Increase business model agility with deeper insights, real-time operations and easy deployment of new products and partners.
Who Uses Digital Core?
Digital core is appropriate to a wide range of financial service providers, regardless of their size or life stage.
Banks and Lenders transforming operations by automating processes such as onboarding, credit scoring and loan management.
Challenger banks and FinTechs seeking a fast and efficient launch and scale phases while building trust with clients and regulators.
FX and Loan market operators seeking to gain competitive edge through real-time operations, client engagement and efficiency.
Channels & Products
Digital core is omni-channel, ensuring a consistent and excellent client experience 24/7.
Internet, Mobile and POS channel integrations empower clients with self-service and reduce the cost of client capture and service.
The human touch remains important, use smart automation to improve service design and free-up time for staff to speak to clients.
Real-time operations, client centric insights and high usability make it easy for staff to provide fast and efficient service.
Key Modules
Our solutions are modular and customisable, meaning you get exact what your business requires. Key modules include:
Client Records
Union solutions save all data, documents and transactions in relation to the client. It is possible to link clients such as a spouse or a business. A client centric approach ensures valuable data is saved and provides deep insights, improving KYC and service customisation.
Client Messaging
Send and receive messages using letters, email, SMS and digital channels. Messaging can be ad hoc, as part of a sales campaign or event based such as payment authorisation or missed loan repayments.
Channel Configuration
Configure internet, mobile and POS channels. Define what viewing and usage rights clients have to account information, messaging, new product requests and self-servicing. Clients can log-in using their digital identity or conventional password.
Product Configuration
Configure product feature such as rates, fees and conventions. Supports complex structures such as tiered pricing based on client status, channel, location, etc. Use of templates and controls reduces operational risk. Configure products at head office or in-country depending on governance.
Processes Configuration
Integrate third party providers and organise processes. Examples include client onboarding, loan issuance, interest calculation, messaging, reporting, etc. Ability to define frequency and degree of automation e.g. full, partial, dual sign-off required, etc.
Reporting & Analytics
Wide range of activity and financial reports for management and regulators. Reports can be run on an entity or fully consolidated Enterprise basis. Run reports in real-time or on a defined frequency such as daily, monthly, etc and deliver in CSV, HTML, PDF, XLS or XML formats. It is possible to request customised reports.
General Ledger
General ledger accounts prepared on an entity or consolidated Enterprise basis. Transactions automatically applied based on hierarchy of entities, product configuration, etc. Possibility to make manual entries subject to permissions. IFRS compliant.
Administration
Define what internal users see and do, supported by a detailed audit trail. Easy to add new products, languages, entities and features, improving time to market.
Document Management
Integrate questionnaires, price lists and contracts in PDF, HTML or plain text formats to a specific process. Documents are saved in the relevant client profile, providing high visibility. Easy to implement new documents and templates.
Payments
Enabled for cash, bulk, internal, SWIFT and SEPA payments. Possible to make single payments in real-time or create bulk payments on a defined frequency. Option to define different payment priorities and tariffs. Secure, real-time interface with payment gateway and AML providers.
Loans, Leasing, Factoring
Detailed information on a loan, portfolio, entity or Enterprise level. Segment and filter data easily based on amount, location, tenor, loan officer, product and exposure status, including NPLs. Secure, real-time interface with other applications supports full automation of loan process.
Deposits
Detailed information on current and deposit accounts. Supports multiple currencies, tenors, interest conditions and conventions. Automatic calculation and application of interest, easy to prolong on maturity.
FX
Manage online channels and cash exchanges in the Bureau de Change. Real-time rates feed, trading and reporting ensure dynamic marketplace and risk. Add new currencies and asset classes quickly and easily.
Integrations
Open architecture allows you to integrate the best third parties easily and securely by API.Typical examples include other internal systems and external parties such as Open Banking partners. Union I marketplace has numerous secure, reliable integrations and we are adding new ones to power the digital transformation of financial services.
Making It Easy
Whether you are undertaking digital transformation or starting a new venture, the prospect may appear daunting. We have deep expertise and can help you plan the optimal approach. Our solutions provide full front-to-back infrastructure, with existing integrations, making deployment fast effective. Our client first philosophy to project management and aftercare ensure your journey will be smooth and deliver results quickly.