William Montiel, CMO and Javier Montero, CTO Core banking systems (CBS) underpin nearly every banking process. These legacy solutions—which date back to the 1970s— are not only a means for streamlining daily operations, but also defining new capabilities, innovations, and growth opportunities for financial institutions. While CBS has helped form the foundation of traditional banking, the transformation of these systems today has become the need of the hour. Upgrading to modern CBS for controlling costs, risks, and other resources for enhancing a bank’s performance is imperative at present. Datapro—a mid-sized core banking systems development company— helps financial institutions achieve this through its comprehensive portfolio of fully-integrated banking solutions that are designed to address the challenges faced by the modern banking industry.
A family-owned business established in 1976, Datapro has dedicated itself, for over 40 years now, to developing integrated banking systems that enable financial institutions to operate more efficiently, achieve a better ROI, and improve their level of customer service. Over 160 customers currently utilize its integrated banking solutions—ranging from small banks to large commercial, financial institutions— across 31 countries worldwide, including Mexico, The Caribbean, Central and South America, as well as Europe. Javier Montero, CTO of Datapro, says, “With our open core banking system, banks have the opportunity to provide innovative services to their clients and remain at the forefront while ensuring compliance and security standards.”
Today, the emergence of Fintechs is forcing banks to readjust their structures to adapt to a new environment where all the financial entities are purely digital entities, without the physical structure. To that end, Datapro allows these businesses to leverage its library of APIs and connect the core natively to either third-party solutions or Datapro’s own Fintech software. “This offers them the added flexibility to offer their customers with additional capabilities as per market demands, with no extra cost or heavy integration,” informs William Montiel, CMO at Datapro.
We understand where bankers come from and what they deal with. Hence, we aim to develop solutions that make their lives much easier and efficient
Besides the core banking system, Datapro also offers various other solutions such as portfolio management software, customer relationship management application, and a digital platform, all of which aid in the optimization of business processes for the banking sector.
While Datapro’s eye for customer-centricity and its commitment to go the extra mile to meet individual clients’ needs has earned it significant recognition from multiple banks around the world, Montero believes the company’s long-standing journey in the marketplace also plays a massive role in its success. “We understand where bankers come from and what they deal with. Hence, we aim to develop solutions that make their lives much easier and efficient,” he asserts. To better highlight Datapro’s unique value proposition, Montero cites the success story of Banco Bradesco. One of the biggest banking and financial services companies in Brazil, Banco Bradesco, specializes in private banking services. The firm associated with Datapro when it was looking to improve and expand the financial services it offered to clients, and in order to do so, had to move from its legacy integrated banking system. Datapro helped Banco Bradesco achieve this by installing its core e-IBS software onto Banco Bradesco’s banking systems. Today, Datapro’s core banking system is implemented across all of Banco Bradesco’s offices outside of Brazil, including London, New York, and Luxembourg. “Some of the other users of e-IBS also comprise Scotiabank, G&T Continental, Banco Internacional, and Banco del Pacifico,” adds Montiel.
Going forward, Datapro will continue to expand the capabilities of its core banking system to include advanced technologies such as mobile internet banking and AI, to help banks provide an improved customer experience. On the geographical front, the firm is working on making inroads into the U.S. community banking market. “Our mission is to continue helping our customers align with the new technological changes in the market via our own development,” wraps up Montero.
Datapro has started collaborating with Mastercard to expand the integration of Mastercard Cross-Border Services, which is part of the Mastercard Move portfolio of money transfer solutions. This collaboration will offer Datapro’s customers in Latin America and the Caribbean fast, transparent, and convenient cross-border payments.
Customers demand improved global money transfers
Increasingly, consumers are looking for ways to transfer money internationally in a quicker and more secure way. In fact, delivery speed, security, receipt confirmation, and the ability to use an app are the top factors driving choice of online solutions, according to Mastercard’s Borderless Payments Report. To accelerate innovation and respond to consumer needs, Datapro removes the technical barriers to implementation that financial institutions may currently face when adopting new payment solutions.
Officials from Datapro said they are happy to collaborate with Mastercard in order to bring new digital payment solutions to customers across the region. Datapro has a track record of success within Latin America and the Caribbean for more than 45 years. This collaboration is a strong testament to Datapro’s ongoing commitment to supporting financial institutions in driving innovation and providing impactful digital solutions to their customers.
Enabling seamless global payments through Mastercard
Mastercard Cross-Border Services enables participating financial institutions across the world to offer their customers international payments in more than 60 currencies to over 100 markets covering 90% of the world’s population. As part of the Mastercard Move portfolio, the service offers users flexibility in how funds are received with full transparency and predictability over transaction status and delivery time. End points can include bank accounts, mobile wallets, cards, and cash payout locations.
Commenting on this partnership, representatives from Mastercard said that as the global economy evolves, people should be able to move money however they want and whenever they want. This requires an enhanced suite of services to ensure funds move quickly, seamlessly, and safely. By connecting Datapro’s platform to Mastercard Cross-Border Services, their customers will have access to seamless cross-border transfers underpinned by the reliability of the Mastercard network.
The collaboration will be effective across Latin America and the Caribbean, where Datapro will expedite the integration process for financial institutions with Mastercard’s Cross-Border Services. The collaboration features advanced data integration, business rule management, and API orchestration for financial institutions. This approach provides an agile and streamlined implementation, removing the common hurdles of technical integration and lengthy onboarding processes.