Why Spend Your “Change the Bank” Budget at ECL
Our fund control software suite for banks can help you meet multiple goals in a cost-effective manner.
According to industry experts, regulatory changes in 2015 have forced many banks to reconsider the way they do business. Specifically, banks are looking for ways to cut the fat from their operations in order to help cover the costs of implementing newly required data and regulatory reporting procedures.
Zhiwei Jiang, Global Head of Insights and Data for Capgemini Financial Services, reports that adapting to regulatory changes is eating up roughly 50 percent of the “Change the Bank” budget at many institutions, leaving banks struggling to find funds to direct towards revenue-generating activities.
In many cases, the solution to this budget crunch is to:
- Implement “patch fixes” that enable regulatory compliance but are not necessarily the most strategic solutions
- Cut back on high cost operations like IT infrastructure
- Eliminate redundant systems
- Integrate Finance, Risk, and Treasury capabilities
How Working with ECL Can Help
At ECL Software, we offer a comprehensive fund control software suite for banks that can provide a much more strategic and cost-effective means of ensuring compliance with strict capital, liquidity, and disclosure requirements introduced by recent and upcoming regulatory changes.
This software allows you to:
- Combine multiple functions within one single-entry system
- Connect easily to existing back-end systems as needed
- Reduce your IT budget with our online software portal
- Improve your data quality and accessibility with customized reporting functions
- Utilize robust risk management functionalities including stress testing
PLUS, our software also introduces many operational improvements that can save your staff time and your bank money. This savings translates into more cash to direct at those all-important revenue-generating initiatives that could otherwise languish.
Interested?
At ECL Software, we are all about making sure our fund control software complements the way you do business. We’ve built in around 800 settings that can be easily switched on or off to make the software work how you need it to, and we can certainly work with you to further customize the software if needed. This can help make the transition to the new software easy for your employees—rather than subjecting your employees to a learning curve as they use the new software, we make sure the software has already learned how they need to use it.
If you would like to learn more about how our fund control software can help you use your “Change the Bank” budget effectively, please contact us today to request your free personalized online demo.
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