Kingslake together with Progress Software, presented world-class solutions that offer invaluable benefits to the Sri Lankan BFSI sector at the Progress Corticon Breakfast Roundtable Forum on the 23rd of July 2014 at Spoons Restaurant, Hilton Colombo.
With the main focus being on ‘Driving operational efficiency in a turbulent regulatory landscape,’ the keynote speakers revealed how financial institutions can use Business Rules Management System (BRMS) technology to automate decision making processes within their organisations, allowing them to direct their attention to other vital aspects of their core business operations.
A typical banking or financial organisation faces many challenges; it has over 300 unique business processes, with up to 1,600 unique activities, approximately 70% of which involve decisions. This means that thousands of decisions are made on a daily basis. Moreover their customers are also moving faster and demanding more. As a result financial organisations need to rise to the challenge of meeting these needs in a timely manner in order to stay competitive. Thus there is an urgent need to both simplify and accelerate the decision making process.
The Progress Corticon Business Rules Management System does just that. It offers a compelling solution to business decision making challenges by automating recurring operational decisions in an environment optimised for managing business logic. Offering accurate information to assist organisations to make the right decisions at the right time with the required business agility, it allows them to tackle challenges and take on new opportunities. In addition, it increases transparency, helps streamline processes and reduces costs and IT overhead, making the Corticon BRMS an intelligent solution to the complex challenges of a financial organisation.
Organisations using Corticon are enjoying significant gains in both business operations and IT agility. Customers like eBay, DBS, AEGON, LexisNexis, US Bank, and Carrefour have been able to combine these improvements in decision automation and decision change processes to realise significant bottom- and top-line results.
The Progress Corticon Breakfast Roundtable Forum was attended by senior level executives of leading banks and financial institutions in Sri Lanka. Following the presentations, the invitees got the opportunity to interact between themselves and with the speakers, enabling them to explore further how BRMS can be beneficial to their organisations.
“In the current changing landscape of the BFSI sector, where the banking market is heavy with regulatory, compliance requirements and consolidation acts, and where competition to attract and retain customer relationship with ever evolving new products and services is fiercer than ever, Kingslake brings to the market the Progress Corticon BRMS, the ideal product to give banks in Sri Lanka a distinctive competitive advantage” said M Krishnamoorthy, Vice President - BFSI Solutions at Kingslake.
As a pioneer enterprise solution provider in Sri Lanka, Kingslake has gained much insight into the business needs of both local and international companies. Over the past twenty years they have focused on providing relevant and cutting-edge technologies to organisations which help them simplify complex business processes.
Since 1981 Progress has been committed to delivering market-leading technology innovations that empower their partners and customers to dramatically improve the development, deployment, integration and management of their business applications. Their technology is used by nearly 140,000 organisations in more than 180 countries.
Kingslake has built a strong business rapport with Progress since partnering with them in 1996 to provide enterprise solutions to organisations. With the Progress Corticon BRMS, they offer Sri Lankan BFSI organisations the opportunity to stay ahead of the game - by playing according to the rules.