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Unisys pitches innovation to mid-tier banks

16 February 2017 5:30PM
Unisys Corporation is launching a digital banking software platform and suite of applications pitched primarily at mid-sized banks and smaller financial institutions. The tech firm's promise is that it will deliver "an instantly secure" and "frictionless banking experience" for the banks' customers. With the start of the New Payments Platform looming, more smaller FIs will be able to join in via the new system, dubbed elevate by Unisys.Several of the company's executives - in Sydney for a conference - told Banking Day that financial institutions of all sizes could adapt the Elevate system "to fit a range of business needs, including the origination of mortgages, loans, savings and current accounts"."We are not necessarily targeting banks like Commonwealth Bank, Westpac and [other majors]; we are targeting mid-tier 2 type banks as they're the ones that need to catch up," said Eric Crabtree, global head of Unisys Financial Services.This represents a change in strategy for Unisys itself, as it moves away from trying to be all things to all people."The challenge for many banks and building societies today is how to stay relevant and keep pace with the changing needs of customers," said Crabtree.Unisys hopes to create a whole new market for itelf by linking into existing core banking systems and, in effect, filling in missing links such as a customer relationship management system and built-in adaptive biometric and data analytics to securely identify customers, authenticate access and validate transactions."Additionally, the analytics engine behind Elevate can provide banks with opportunities for improving operational and sales efficiency, while our ... security suite helps ensure that client applications and data are protected from threats," Crabtree said.More than 125 banks worldwide already use Unisys' retail banking delivery platform.

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