Automation is no longer a secondary strategy as banks cannot afford to miss out on the opportunity to transform their back-office processes to be profitable and remain competitive.
Customers have come to expect convenience, high service levels, and digital products. And Banks have come to the realization that just offering a service is no longer good enough. Quality level needs to be high and services must be fast and convenient!
An automated back-office allows you to deliver services fast, Online banking places you exactly where your customers need you and mobile banking is slowly but surely replacing the need for cash on hand.
Are your current processes slow and still dependent on paperwork and outdated manual processes ? Does your back office processes lead to high error rates ? Is your compliance department overwhelmed and overworked ? Could you use some of these resources and re-allocate them to areas that help grow your customer-base instead of costing your bank money ? Is your bank losing to competition due to limited service offerings? If your answer is “yes” to any of these questions then you need to start working on improving efficiencies, turn your back-office into a profit center and offer innovative solutions that your customers demand.
Alchemy Connect is THE solution that can rescue your operation from needless expense and errors.
With bank automation as a focus of intense interest, management teams of Financial Institutions across the Caribbean have chosen for Alchemy Connect to contribute to their strategic transformation, delivering the full benefit of automation. They have realized that they need to automate to increase productivity, save on costs and improve customer experience.
At IBIS Management Associates Inc., we continuously improve the functions of Alchemy Connect to meet today’s demands and help Financial Institutions achieve operational excellence through increased payment efficiencies and compliance. The Alchemy Connect Umbrella of products consists of the main Payment Processing platform to automate the back-office along with critical options such as Internet Banking, Mobile Banking & Money Transfers and Insight: A Management reporting Tool.
Payment processing is a complex operation at the heart of the banks service portfolio. Many Payments Department still use outdated manual or semi-manual procedures, processes, resulting in unnecessary costs and risks. Each time an officer handles a piece of paper or re-enters data into legacy systems to process a payment, the bank loses valuable staff time and introduces operational, fraud and compliance risk into the bank.
The average bank today takes at least 15 to 20 minutes to manually process a transaction from the time a customer initiates a payment request until it reaches fulfillment. However the aggregate elapsed time for each person in each department to complete their part of the payment processing cycle may reach up to 4 hours before a payment reaches a fulfillment channel such as the SWIFT or ACH network.
With this in mind, Alchemy Connect was designed to automate and optimize banks’ payment processing system according to the latest compliance regulations. This Alchemy connect solutions also include a high tech Internet banking, Mobile banking, and the core of the payment processing solution for full end-to-end efficient straight through processing.
Alchemy contains a powerful array of features and benefits to automate your internal and domestic transfers, international payments, standing orders, central bank reporting and compliance with a real-time interface to standard core banking applications. All these features headlined in blue come as standard with your Alchemy Implementation.
Online banking has become the norm for many simple transactions as clients to avoid having to wait in line at the bank. With Alchemy’s robust Global Internet Banking (GIB) solution your bank will deliver on both your customers’ needs for convenience as well as your financial institution’s need for efficiency.
GIB operates as a highly secured extension of the Alchemy payment processing suite and integrates with most core banking platforms. This reliable, multi-currency and multilingual Internet banking solution allows transactions to be processed with straight-through-processing (STP) accuracy and controls.
Mobile banking started several years ago as a nice-to-have-channel, and now it is here to stay. In a few years’ time, there will be over billions of mobile banking users globally. It is time for you to take this opportunity to attract new and loyal customers with a Mobile banking Application.
The use of mobile devices is transforming internet usage with a large and growing percentage of traffic now originating from mobile services. With more and more smartphone traffic being generated by mobile apps, customers with smartphones expect their bank to provide an app for them to interact with their accounts in a simple, user friendly, screen optimized manner. As such, we have introduced Alchemy’s Mobile App from, which will help your bank to provide advanced functionalities and usability on any smartphone while at the same time offering cutting edge banking practices.
Our Mobile App adapts to all types of devices and empowers customers to undertake transactions across their smartphones and tablet devices as if they were in a branch. It provides a banking experience that will give your bank a competitive edge, while increasing customer satisfaction by letting them do all transactions on their smartphones and tablets.
· Cross Platform compatible (iOS/Android)
· Uses login & mechanisms to provide access as well as authorize funds movements
· Corporate/proprietary branding capabilities
· Optional Biometrics Log On capabilities (Fingerprint & Face recognition)
At IBIS Management, when we design solutions that reflect our care about differentiating your bank from the competition and providing your customers with the convenience they demand.
The power of Alchemy is in the integrated payment processing that empowers your bank to deliver advanced functionality, speed and service to your customer base.
Every payment originating through Alchemy Mobile banking is passed on seamlessly for full automated processing and posting in your back office. This ensures blazingly fast client service. And of course your bank benefits from state of the art security, audit and reporting controls.
Additional Alchemy Custom Modules:
· E-Alerts for Payments Processed by Alchemy:
· STP Check & Draft Printing Manager
· SWIFT 940/950 Statement Manager
· Merchant Settlements Manager
· Credit Card Payments Manager
· Credit Card Settlements Manager
· Real Time Gross Settlement (RTGS) Interface
· RTGS payments
· Payment Performance & Compliance Reporting & Dashboards à Alchemy Insight
· Corporate Batch Payments Manager
· ACH File Manager
· Custom Core Banking API Development
· Lifeline – DR and Backup