Smart Financial: Smart Way of Integrating Banking Systems

The advent of mobile, internet, and social media is redefining core banking. “Mobile devices have replaced cards in the financial industry,” states Juan Samaniego, President, Smart Financial. “Customers want to make payments through mobile and that has become essential for core banking.” In a hypercompetitive financial landscape, it is important for the financial institutions to utilize information technology to deliver efficient service at a lower cost, while remaining in sync with PCI (Payment Card Industry) compliance requirements. Organizations that are still using the legacy systems and outdated technology will lose traction in the market. At this juncture, Miramar, FL based Smart Financial comes into the picture. The company helps organizations to evolve in a dynamic environment by integrating, designing, and implementing innovative solutions at lesser costs. “We develop software solutions for core banking that integrate new technologies with products and mission critical services,” says Samaniego.

Smart Financial offers a number of software solutions that can be molded according to the customers’ specific requirements. The company’s main services include core banking and financial, business financial management, banking and payments, security and control, infrastructure, and Internet and mobile banking. Smart Financial primarily provides consulting services that can help financial institutions efficiently manage their business. “We have hired experts to provide post production support and help in the integration of banking systems,” says Samaniego. The company’s solutions integrate ADSI (Advanced Services International Inc.) professional services to support the financial industry by delivering management and technology platforms. “We have been installing banking systems for more than twenty years through ADSI,” describes Samaniego. “With this expertise we are able to deliver higher quality software, and ADSI is supporting that implementation,” he adds.

Keeping in mind the fact that net banking requires se¬curity, Smart Financial has developed applications for core banking by utilizing standard methodology in the market— Capability Maturity Model Integration (CMMI). “CMMI is the discipline to develop the process of installing the banking systems that enables financial institutions to work in a very reliable environment,” explains Samaniego.

The company helps financial institutions to make the most befitting decisions by providing them with the management tools that give them a ringside view of the activities of banking systems that have been installed. Smart Financial provides specialized services for Business Process Management (BPM). “The services are a blend of technology, best practices, and content to help financial organizations to achieve efficient management,” says Samaniego.

We develop software solutions for core banking that integrate new technologies with various products and mission critical services

Smart Financial’s solutions have helped many financial institutions to take full advantage of their core banking prominence. To highlight one of its customers’ success stories, a bank wanted to expand and reach out to more customers. “It was a small trade union that had two to three branches and needed to multiply its customer base,” says Samaniego. The customer approached Smart Financial looking for a solution that can help them seamlessly open branches across different countries. Smart Financial assisted them in deploying banking systems to provide them accessibility from a single point. After the effective implementation of the solutions, the customer now has nearly 100 branches in place.

After having a well-established portfolio, Smart Financial aims to wade its way into different market segments, while improving the current business. “We are planning to expand our services in the U.S., Europe and Latin America,” concludes Samaniego.