Nov 11

BOSS at the National Retail Delivery Show

We presented the new BOSS (Bank Open Source System) teller system at the Retail Delivery show. The following explains the thought process behind the system and the embedded slide show provides additional background. The Banking industry is undergoing revolutionary change. Not surprisingly, the teller channel is at the heart of that change.

The Banking industry is undergoing revolutionary change. Not surprisingly, the teller channel is at the heart of that change.

Teller transaction volumes have continued to decrease due to electronic channels such as internet banking and ATM’s. However, teller has not decreased in importance. In fact, teller has increased in importance. The teller is the key differentiator between your financial institution and the thousands of banks that are available via phone or internet. The branch is emerging as a sales and service hub allowing your financial institution to project a physical presence and personal connection with clients that “Internet Bank” cannot match.

At the same time, technology has improved at a rapid pace. Wide Area Networks, Browser capabilities, and Collaborative tools have emerged. Also, the teller workforce has become internet savvy allowing for faster and easier digestion of applications that resemble standard internet interactions. More, including real on-line operation system demo Here. A screen cast with a full run through is available Here.

The Banking Software vendor community has largely abandoned development for the teller channel as a dead end channel. Innovation has slowed and in many cases, simply stopped. BOSS teller has emerged to take this "rubic’s cube” of issues and craft a simpler, flexible, modern, low cost teller system that radically reduces the cost of acquisition and total cost of ownership.

BOSS Teller, an OSWCO product begins by leveraging Open Software Systems instead of older proprietary systems. Technological advancements allow a new teller system to participate in collaborative applications which leverage intranet/intranet functions. These include exception handling, communications, and common areas of interest like locations, rates, policies and procedures, etc.

BOSS Teller’s radically lower cost of development and ease of software distribution allows BOSS Teller to eliminate the up front license fee model of software acquisition. BOSS Teller is not sold but is implemented with a software installation and customization contract and an annual maintenance relationship. Our "no license fee" model allows the client to participate in any way they so choose in software development and maintenance. In fact, BOSS can be distributed and implemented by non-financial institutions including consultants, programming providers, hardware providers, service bureaus or any other business partners. BOSS teller can be implemented as a “home grown” solution, as a vendor collaborative solution or as a turnkey solution.

While presenting a lower total cost of acquisition, BOSS Teller also drastically reduces the total cost of ownership. BOSS Teller leverages new technologies to create a virtual and collaborative teller experience. While the teller is tied to a physical location, the system provides a collaborative solution so that complex transactions and customer service requirements can be provided by any empowered employee supporting the teller line. This approach provides for a much simpler teller process and yields a better customer experience, less errors, and lower training overhead. BOSS Teller provides easy access to network available information like rates, branch locations and more.

BOSS Teller is a partner application, not a stand alone cost center, it is conceived from the ground up to be integrated with other bank applications as desired.

Target, Starbucks and McDonald have new employees handling customer transactions within their first full day of employment. Why? The transactions make sense and the workstations provide a simplified process. BOSS Teller follows the same retail path. BOSS Teller utilizes a streamlined “internet-intranet” user interface to take advantage of an increasingly internet savvy workforce.

The solution also is very feature rich. After having digested the new dynamics of teller in the financial industry today, we are able to better address the focus of teller in 2010 and beyond.

  • Continuous development/improvement
  • Ease of Use
  • Internet Application User Interface
  • Collaborative Solutions (chat, voice, video)
  • Fraud Prevention and/or Recognition
  • Compliance
  • ATM
  • Business Services
  • Cash
  • Night Drop Processes
  • Customer Services
  • Sales and Sales Referrals
  • Excessive Use (Inquiries, Trial Balancing, Fee Waivers)
  • Image ready
You will find additional information about BOSS and OSWCO in this slide-show.

View more presentations from Tom Brander.

Clearly, the industry is changing. BOSS Teller has been developed to meet that change with a set of features that matches the role of the teller today using technology available today. All of these capabilities come at a fraction of the cost of the tradition teller channel automation products. We would invite you to try BOSS Teller and collaborate on a way to adapt our teller channel solution to your contemporary teller needs.

About OSWCO

OSWCO is dedicated to introducing and supporting Open Source Software to the Enterprise. The Open Source movement and products have become highly sophisticated, cost effective, and mature. Many leading companies and organizations are making rapidly increasing investments in it's use.


To see our Information about Google Apps click Google Apps Info

OSWCO is an authorized Google Apps reseller. Some organizations need help and a place to turn to for, consulting, product development or commercial support. We have developed an extensive network of reliable experts to assist you, able to take on the largest turnkey projects. Contact us to help you examine the options. Phone: 205-267-1089. More info:


Subscribe to us:

Elsewhere

Categories

Recent Posts

Archive

BlogRoll

Popular Posts

Django Popular