The dynamics of the changing banking landscape confirm Moss’ thoughts. With the revolutionary advancements in technologies, the financial industry is witnessing non-banking companies invading the niche area of banking with their high-sophistication and low-cost products and services. These new entrants — from tech giants and startups — are targeting the high growth areas of the banking business and using their expertise to demand a share of the banking revenue. This puts conventional banks under tremendous pressure to jump on this tech bandwagon and accelerate the growth of their value proposition to compete with these new entrants in the market.
Enter Cobiscorp. “Founded in 1953, we help clients evolve so they can become agile, adapt to changes, increase operational efficiency, and ultimately add value to their business,” says Javier Bucheli, the company’s Senior VP and Chief Strategy Officer. “We are a multinational financial technology leader that specializes in facilitating business transformation by developing state-of-the-art solutions for financial institutions.”
As a prestigious company with almost seven decades-worth experience in the financial industry, Cobiscorp had undergone several technological transitions since its inception. Starting with obsolete closed systems, the company was one among the forerunners in adapting to technological advancements by embracing open systems and thriving in the internet era. This propelled Cobiscorp to excellence in the financial industry with novel solutions that enhanced clients’ growth, performance, and stability. Innovation embedded in its DNA, Cobiscorp is now aligning with the public cloud environment to build a complete cloud-native solution by leveraging AWS. This manifests Cobiscorp’s capability to see into tomorrow and forge the ideal solutions that meet clients’ dynamic needs.
Cobiscorp’s product portfolio includes two suites of solutions: COBIS Core and COBIS Edge. COBIS Core is a core banking solution that facilitates the fundamental operations of the banking business. This includes — but is not limited to — centralized management of customer account and loan portfolio data, integrated and secure system management, and compliance with local, national, and international regulations.
The solution can also be easily tailored to adapt to the highly dynamic regulatory landscape. Its cloud-native version, COBIS Core Serverless, is built upon the server-less architecture provided by AWS. This game changing solution eliminates costs and risks associated with managing data centers, and the communication, equipment, and firewalls with on-premises systems.
COBIS Edge is a suite of powerful solutions that accelerate banks in their digital transformation. COBIS Edge facilitates digital onboarding, both in creating new loans, and originating demand deposit accounts. By providing 24/7 access and control of customers, products, and transactions from a centralized system, COBIS Edge empowers clients to be agile and flexible when they configure and deploy new solutions.
In addition to the robust solutions, Cobiscorp provides comprehensive services to clients, facilitating their transformation and growth. The company helps customers meet market needs and create competitive advantages through agile frameworks, project scoping, product concepts, prototyping, and digital ecosystem consulting. By serving as a Software-as-a-Service provider, it offers all the advantages of a secure and scalable platform while eliminating the need for banks to have an IT team to manage their back-end operations.
With such a powerful value proposition, Cobiscorp caters to a customer base that encompasses more than 70 financial institutions across 15 countries. What gives Cobiscorp an extra edge is its partnerships with leading technology vendors such as NCR Global, SAP, Microsoft, and AWS. Moving ahead, Cobiscorp aims to emerge as a key player in the financial industry that offers an innovative suite of cloud-native products. “Responding to what happens in the technological landscape, we will adapt to changes and build innovative solutions that add value to clients’ businesses and meet unprecedented needs in the financial industry,” concludes Bucheli.