Banif presents savings from the new multi-channel solution implemented in 237 branches

COLLAB distinguished with the APDC / Siemens Innovation Award

Banif today presented the results of a project developed in partnership with Unisys that migrated its previous platform, to a new solution based on a multi-channel architecture, involving the group’s 237 branches (between Banif and Banco Comercial dos Açores).

The project, which ended the implementation phase in October this year, made it possible to standardize processes across the group’s universe across the continent and the Azores and generate cost savings in several areas.

The implementation of the Financial Transaction Manager solution, based on Unisys Navigator, «reduced the number of manual tasks on screen (data entry in the system) by 84 percent, which is one of the most significant gains that we have ever recorded», explained Rui Amaral Banif administrator at a press conference.

With regard to «the time spent with each cash transaction, the company recorded an average savings of 49.4 percent», details the administrator. The bank also highlights the savings in terms of equipment generated with the integration of applications between the two banking entities involved, which will have reached 242 thousand euros.

On the other hand, the standardization of applications used by the two entities – Banif and BCA – allows the optimization of technological support, eliminating costs of distribution of software and concentrate processes in a single system.

Rui Amaral explained that the main requirements defined by the group, when migrating to the new solution, were to increase productivity, improve the availability of new services and products, the ability to provide a unique image of the group, facilitate cross-selling between group companies and business channels and reduce operating maintenance and support costs.

The administrator considers that the objectives are, in general, being achieved and that the automation or greater efficiency in carrying out a set of functions has allowed the bank to have a greater level of autonomy and even the introduction of new functions at the counter.

The same official stressed that the migration to a new solution is not seen by the group only as a technological choice, but as part of a deeper reorganization process aimed at improving the bank’s efficiency and even facilitating mobility in the organization, facilitated with this application integration.

The official also explains that the implementation of the solution guarantees the organization a higher level of autonomy, introducing new features at the counter.

Banif’s operating costs in information technology are expected to reach 9.6 million euros this year, of which 2 million correspond to the implementation of the multi-channel project.

The group is now starting a new phase of the project that aims at the central structure of the bank and which should be completed in the spring of 2006. In a first phase, this project foresees the creation of a single data processing center (currently there are two, one in the Azores and a second in Lisbon) and in a second phase the integration of applications from the two banks that are not yet compatible.

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