Dion Global Solutions (Dion) (BSE: 526927), technology partner to the financial services industry, announced that Bank of Cyprus has chosen its case & control management solution, FinCASE, for the automation of payment investigations and bank-to-bank charges.
FinCASE is a scalable and flexible application suite designed to assist financial institutions with a broad range of requirements from automating specific processes to an enterprise-wide solution for tracking of all kinds of issues and queries. The suite has a number of standard applications including the tracking of transactional exceptions and investigations, the automation of bank-to-bank commission charges. In addition, the core solution supports the building and configuration of specific, customised automated workflows for issue and query tracking as well as control monitoring within an organisation.
Bank of Cyprus, the country’s largest bank, is embarking on a process to streamline its processes, increase efficiencies and enhance its customer service. As part of the FinCASE implementation project, Bank of Cyprus will automate its incoming and outgoing charge process. Prices and conditions for outgoing claims will be flexible and configurable and invoices will be automatically sent to the receiving bank. All incoming claims will be automatically checked against the original transaction. In addition to automating the charging process, Bank of Cyprus will substitute the manual handling of investigations with a complete electronic case management process supporting SWIFT FIN, fax and email messages.
Mr. Dirk Vesper, Product Management at Dion said, "We are delighted that Bank of Cyprus has chosen FinCASE for its bank-to-bank charging and investigations. High levels of automation is essential for banks to meet today’s regulatory and customer requirements and we are confident that, through FinCASE, we can deliver real value across the Bank of Cyprus business. We look forward to a long partnership with them."