Ultimus, developer of one of the most widely-deployed business process management software suites in the world, today announced its growing success in enabling banking institutions to optimize and improve processes with its BPM solutions.
The reality of today's economic conditions drives the need for the kind of productivity and time to market and, most importantly, cross-company visibility that BPM brings to on organization. Like many banks around the world, Panama-based Towerbank International is turning to BPM as a means to achieve customer focus and a more efficient and cost-effective operation.
Founded in 1971, Towerbank specializes in corporate and private banking, providing personalized service for clients in Panama and abroad. The bank is dedicated to leveraging the latest generation of information and technology tools to develop and support internal processes that increase efficiency, facilitate development of new products and services, and produce a high degree of information visibility for key decision making.
As part of this strategy, Towerbank is designing a new paperless customer service model and engaged Ultimus to develop a combination of mission critical and back-office processes to support that model. The first processes developed include credit card purchases and approvals, new account openings, fixed time deposits, claims management and accounts maintenance.
"Ultimus has been a key partner in helping us design our goal of paperless customer service," said José Campa, CEO, Towerbank International. "By automating key business processes, we not only enable our paperless processes and approval, but also improve efficiencies and performance in a number of areas including the front office."
"One of the greatest promises of BPM is its ability to eliminate the need for so much paperwork, while increasing the efficiency and visibility of key business processes," added Christopher Heivly, executive vice president, Ultimus. "The financial vertical is laden with process-driven applications and compliance hurdles making BPM an ideal fit for fast-growing banks like Towerbank International."