Streamlining Payments at Sibos 2011 with ProfitStars
As the countdown to Sibos Toronto continues, today I would like to introduce you to one of Microsoft’s Sibos stand partners. ProfitStars is part of Jack Henry & Associates, Inc. and is a long standing financial services partner with a focus on deposit automation and payment solutions. To provide some more insight to latest developments and their Sibos presence, I thought I’d invite Brandon Kunz, Manager of Product Strategy and Marketing, to share some thoughts.
Thank you for taking some time to discuss innovation in automating and streamlining payment processes. What are some of the trends you see with your particular solution area focus?
At ProfitStars we are seeing the continued proliferation of self-service channels and the explosion of payment schemes around the world; however, financial institutions still grapple with maintaining support for legacy cash and cheque payments. Leading financial institutions are leveraging deposit automation and related payment solutions to reduce costs and
mitigate risks associated with processing paper-based transactions across branch, online, mobile, and other channels. In doing so, they are streamlining business processes in a way that converts transaction-centric exchanges to value-added interactions that improve the customer experience and strengthen their brands.
How does your solution address these?
ProfitStars is ranked as the #1 provider of branch deposit automation and remote deposit capture solutions in the U.S., and that expertise extends to customers around the world. One of the things that sets us apart is our ability to automate and streamline payment processes from the point of presentment and on through the enterprise processing stream to final resolution. Essentially we use technology to do the heavy lifting and remove extensive manual processes from the front office as well as the back office. For example, through the use of imaging at the teller line, we can not only truncate the processing of check transactions, where truncation is allowed, but can actually capture information on the check that can be used to inform other systems, as well as remove a large percentage of keystrokes required to process a deposit or payment in the branch. As a result, the teller is freed up to spend more heads-up time with the customer, learning
about life events that may require additional bank services and making referrals as appropriate. In this case, the time and effort to make a deposit has not only been reduced, but the client has been steered to a needed service. The customer relationship has been strengthened, while the cost, effort, and risk of accepting and processing the transaction have been reduced. This is a true
win-win scenario for the financial institution and its clients.
Have you exhibited at Sibos before?
No, this is our Sibos debut.
What are your primary messages for the Sibos audience?
Leading financial institutions are again recognizing the importance of becoming customer-centric businesses. They’re turning to technology to facilitate change, but also want to be sure that the technology they invest in is time tested, proven in production, and industry accepted. ProfitStars is committed to helping these financial institutions realize the true value of technology to enhance their operations and gain the flexibility and agility they need to compete in a constantly evolving market.
Other than visiting the Microsoft stand (C125), how can people who may not be at Sibos contact you to find out more about your solutions?
Several ways: Visit us at www.profitstars.com, call 1.877.827.7101, and follow us at twitter.com/profitstars.
Many thanks for sharing your perspectives, Brandon. Look forward to seeing you in Toronto.