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Hogan Core Banking Transformation for the Banking Industry is a game-changer. It's a comprehensive solution that helps banks modernize their core banking systems, reducing costs and improving customer experience.
By leveraging Hogan's expertise, banks can transform their core banking systems in just a few years, not decades. This is a major achievement, considering the complexity of core banking systems.
With Hogan, banks can achieve a 30-40% reduction in costs, freeing up resources for innovation and growth. This is a significant advantage in today's competitive banking landscape.
Banks can also expect a 20-30% increase in customer satisfaction, thanks to Hogan's user-friendly interface and streamlined processes. This is a direct result of Hogan's focus on customer-centric design and development.
Why?
Hogan is widely acknowledged as one of the most robust and scalable core banking solutions in the industry.
Its proven performance is a major draw for banks looking to support a range of growth opportunities without disrupting operations.
This makes it the fail-safe choice for banks that need a reliable solution to support their growth plans.
Hogan's robustness and scalability are key factors in its popularity among banks.
Benefits of Hogan Core Banking
Hogan Core Banking offers a significant reduction in total cost of ownership, with a reported decrease of up to 50% compared to traditional banking systems.
This is achieved through its modular architecture, which allows for easy customization and scalability.
Hogan Core Banking also provides a high level of security, with features such as encryption and access controls to protect sensitive customer data.
Its advanced reporting and analytics capabilities enable banks to make data-driven decisions and improve operational efficiency.
Reliability
Hogan Core Banking is designed to be highly reliable, thanks to its client-modifiable features that allow for speed and resilience.
These features enable banks to customize their system to meet their unique needs, ensuring that Hogan Core Banking can adapt to changing circumstances.
By implementing speed and resilience in its client-modifiable features, Hogan Core Banking can handle high volumes of transactions and maintain stability even in the face of unexpected disruptions.
This level of reliability is especially important for banks, where downtime can result in significant losses and damage to their reputation.
Better Tools
Luxoft offers additional software tools that enable you to maximize the performance of your Hogan applications in place and help modernize them.
These tools are designed to complement the Hogan core banking system, which has been helping banks meet the demand for fast transactions for over 40 years.
By using these additional tools, you can improve customer experience and agility, just like Luxoft and IBM have been doing for decades.
Luxoft and IBM's combined solutions can help modernize your Hogan core banking system while protecting existing technological investment.
Partnerships and Expertise
Luxoft and IBM have been helping the banking industry meet the demand for fast transactions for over 40 years, improving customer experience and agility through the Hogan core banking system.
The creators and curators of Hogan possess unrivaled expertise in its integration, modernization, and maintenance, making them the go-to partners for banks looking to modernize their core banking systems.
Luxoft and IBM's combined solutions can help modernize your Hogan core banking system while protecting existing technological investment, making it a wise choice for banks looking to stay ahead of the curve.
Certifications and Recognition
Hogan Core Banking has received several certifications and recognitions that demonstrate its reliability and security.
The system is compliant with the Payment Card Industry Data Security Standard (PCI DSS) to protect sensitive customer information.
Hogan Core Banking has also been recognized for its scalability and flexibility, making it suitable for banks of all sizes and growth stages.
The system's modular architecture allows for easy integration with other banking systems and third-party applications.
Hogan Core Banking has been successfully implemented in several countries, including the UK, US, and Australia, serving a diverse range of customers.
The system's user-friendly interface and robust reporting capabilities have improved operational efficiency and customer satisfaction for many banks.
Transformation and Services
Our approach is enabling banks to adapt, innovate, and thrive in the digital era. By fostering agility and governance, we're helping banks navigate the changing landscape.
With the combined expertise of Hogan and Luxoft, we have a unique insight into the data security needs of our Hogan core banking system clients. This stewardship of Hogan's Intelligent Processes gives us a deeper understanding of what our clients require to succeed.
By partnering with us, banks can expect to see real results in their ability to transform and innovate.
Hogan 4.0
Hogan 4.0 is a next-generation hybrid cloud-core banking platform that combines the latest technology and time-tested capabilities. This innovative platform is designed to help banks stay ahead of the curve and meet the evolving needs of their customers.
With Hogan 4.0, banks can join the leaders in Banking 4.0 adoption, leveraging cutting-edge technology to improve efficiency and customer satisfaction. By adopting this platform, banks can streamline their operations and provide a more seamless experience for their customers.
Managed Services Transformation
Managed Services Transformation is all about helping banks adapt and thrive in the digital era. This is achieved by fostering agility and governance, which enables banks to innovate and stay ahead.
Fostering agility and governance is crucial for banks to stay competitive. By doing so, they can respond quickly to changing market conditions.
Our approach is designed to nurture successful client partnerships. This is made possible by the combined expertise of Hogan and Luxoft.
The combined expertise gives us a unique insight into the data security needs of our Hogan core banking system clients. This is thanks to Luxoft's stewardship of Hogan's Intelligent Processes.
Frequently Asked Questions
What is the Hogan system in banking?
The Hogan Core Banking system is a real-time banking platform that provides customers with easy access to all their accounts. It helps banks offer personalized services and improve customer retention through targeted promotions and pricing.
What are the big 3 core banking platforms?
The Big 3 core banking platforms are FIS, Jack Henry, and Fiserv. These platforms serve banks and credit unions of varying sizes, with FIS catering to large and mid-sized banks, Jack Henry serving small banks, and Fiserv serving a mix of large, mid-sized, and small banks.
Who bought Hogan software?
Atris Technology acquired Hogan Financial Systems, expanding its nationwide presence. This strategic move brings new products and technologies to the market.
What is the core banking system architecture?
The core banking system architecture is the underlying technology that processes daily banking transactions and updates financial records. It serves as the foundation for a financial institution's operations, enabling efficient and secure banking services.
Sources
- https://www.kyndryl.com/us/en/perspectives/articles/2023/08/the-evolution-of-core-banking-systems
- https://www.confluent.io/blog/core-banking-modernization/
- https://www.luxoft.com/industries/banking/hogan
- https://www.amberoon.com/press-release/amberoon-joins-with-celeritifintechs-hogan-core-banking-system-for-anti-money-laundering-initiatives
- https://medium.com/@Coder_Ant/mainframe-core-banking-and-cloud-the-backbone-of-modern-banking-3b4e5ad18f34
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