Tuesday, 30 April 2019 05:46

Unisys releases update to banking software platform

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Unisys releases update to banking software platform Image by rawpixel from Pixabay

IT solutions provider Unisys has released the latest version of its Unisys Elevate omnichannel banking software platform which is designed to support the move to open banking.

The Australian Government deadline for open banking is 1 July and it is closely tied to the new Consumer Data Right. Last month, the Australian Competition and Consumer Commission released draft rules for the CDR and invited consumers, businesses and community organisations to send in their feedback by 10 May so that the rules could take effect from 1 July.

The ACCC said at the time that the CDR would commence in the banking sector and make it possible for consumers to gain access to their banking data and have it sent to providers with whom they preferred to deal.

Unisys said in a statement that the new version of Elevate offered the following enhancements:

Data management for personalised offerings: Elevate has an advanced analytics platform to collect data across all available banking channels and enable the creation of personalised offers. It can also generate dynamic content based on a customer’s spending habits and provide actionable insight into spending or savings needs.

API integration: The new version of Elevate has an API portal to facilitate integration of third-party data and services into a bank’s platform with no disruption.

Security across multiple touchpoints: Elevate is secured by Unisys Stealth proprietary security software, which claims to be the only product able to quickly isolate devices or users as soon as a compromise is noticed.

“What makes this new version of Elevate truly unique is that it takes the new transaction channels made available by open banking and allows banks to seamlessly integrate them into their offerings,” said Maria Allen, vice-president and global head of Financial Services at Unisys.

“Not only does this enable a truly omnichannel experience where the customer can securely complete a transaction from any location and from any device, but it establishes the bank as an integral part of the customers’ life – a ‘one-stop-shop’ where they can get personalised products and services they want, when they want them.”

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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