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Driving Digital Transformation for Cater Allen, a subsidiary of Santander UK

Bank Overview

Cater Allen is one of the oldest private banks in the UK and a subsidiary of Santander. It is a provider of specialist banking services to personal, business, trust, pension and other clients. The bank acquires customers almost exclusively via third party financial intermediaries including accountants, pension providers, and independent financial advisers. The bank has a strong reach with a total account base of approximately 119K active banking and savings accounts.

Requirement

Owing to its unique business model of deposit focus and IFA based servicing, the bank had a vision to transform the business and replace its legacy core banking platform to re-establish itself as a digital focussed new-age bank. Moving from a rigid and siloed technology, the bank was keen on investing in a contemporary digital technology that would empower them to acquire new age customers, paperless onboarding of clients and IFA’s and drive market leadership with an open & connected partner ecosystem.

Product & Solution Provided

The bank was looking for the right sized partner that can drive their challenger bank vision. After a careful study & analysis the bank chose Intellect’s contextual Digital Banking suite, IDC, to drive its digital transformation. The entire solution that was fully UK compliant was selected for its comprehensiveness and agility in driving business growth of the bank.

The modules and solutions offered were:

  • Agent Banking
  • Internet & Mobile Banking
  • Digital Branch
  • Intellect ARX – Patented Security Layer
  • Intellect Integrator – API based 3rd party integration

Benefits to the bank

Designed on a formidable Digital 360 approach, Intellect’s contextual Digital Banking suite, IDC, is designed to deliver the best of both worlds to Cater Allen i.e Customer Experience (Digital Outside) & Operational Efficiency (Digital Inside. The cloud native, micro- services based solution offers the following benefits to the bank

  • Greater reach: Seamless Agent onboarding through tablet & mobile banking. Powered by real time intermediary pay-outs and commissions
  • Faster Customer onboarding: Moving from manual & paper based onboarding to a true omnichannel solution with DIY capabilities
  • Peak Efficiency: Reduced time to on-board and issue a loan from 3 days to 15 minutes
  • API Based architecture: Integration with Santander UK systems and data exchange
  • Open Banking ready: Driving innovation with seamless 3rd party integration
  • Fully UK compliant: Meet evolving UK regulatory requirements; FACTA, PSD2, GDPR
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