Datapro
Digitally Transforming Core Banking

Traditionally, small banks found it difficult to compete with their larger counterparts since gaining more market share typically demanded large capital investments for the opening of new branches, costly marketing, and so on. With the advent of FinTech solutions, these smaller players can deliver targeted, cost-effective solutions which include internet and mobile banking services to their clients in order to gain the advantage needed to establish themselves in the banking space, again without the large capital and resource investments. On the other hand, large banks also need to provide these services to their customers as they seek the same kind of service experience which they get from social media platforms and e-commerce sites. In either of these scenarios, the way forward is through the transformation of core banking systems. However, this is easier said than done due to factors such as banking regulations, business continuity and SLA requirements, and legacy IT infrastructures. Datapro has been offering their core banking services to over 160 customers that range from mid-tier financial institutions to large commercial banks across 28 countries to help them in their digital transformation and enhance their ROI while delivering an improved customer experience. By leveraging the company’s library of APIs, banks can connect the core natively to either third-party solutions or Datapro’s own FinTech software. This also offers them the added flexibility to provide their customers with additional capabilities such as mobile recharge, booking for travel, and much more as per market demands. “We give banks a strong base for performing transactions that are fully regulatory compliant while also enabling connectivity to FinTechs for their further expansion,” says Javier Montero, CTO at Datapro.

During the onboarding process, customers get access to Datapro’s extensive API library. Then the customers can choose to either work with our company’s FinTech software or with other third-party vendors. If they decide on Datapro’s solutions, the connections are pre-configured, and the system can be implemented quickly. However, if they choose a third-party vendor, then Datapro works with the vendor and then selects the API that best connects with that software and then the deployment is similar to working with the company’s solutions. Moreover, there are also different workflow modules for customers that range from customer onboarding, funds transfers, loan services and others.

We give banks a strong base for performing transactions that are fully regulatory compliant while also enabling connectivity to FinTechs for their further expansion

Datapro has been at the forefront of helping their customers go digital. Large banks have been leveraging our company’s offerings to come up with a hybrid approach—between digital and brick-and-mortar—to create a smooth and effective customer digital experience. For example, one of their customers wanted to expand digitally. They approached several FinTech providers and zeroed in on Datapro. Currently, the project is in the process of plugging the customer’s core to a digital banking system. “They are now trying to become the first premier digital bank in the region through our solutions,” adds Montero.

Additionally, to keep pace with the needs of its customers, Datapro adapts quickly to market demands and, in turn, makes changes to its software continuously through its agile development process. Montero stresses that unlike their competitors who have designated teams to interpret the customer’s needs, the company works with its customers more closely to get the business practice and real-life experience for a more comprehensive understanding of their needs. “Since every employee of ours is a former banker, we understand the ins and outs of the banking industry, and we partner with our customers to give them a solution that ultimately makes them successful,” adds Montero.

Datapro has focused on developing its digital platform to include advanced technologies such as chatbot, mobile internet banking, AI, BPM, and blockchain, which they now envision taking to banks to help them provide an improved end-user experience. On the geographical forefront, through the newer versions of their products, they aim to acquire and make inroads into the U.S. community banking market.