Arya, an intelligent, open architecture digital services platform for both retail and commercial account holders, announced that it reduces annual costs for financial institutions by consolidating online banking, mobile banking and mobile deposit versus standalone deployments for each channel.
Arya is the only platform on the market that offers an integrated system provided by one vendor for both mobile and online banking with mobile deposit natively built into the platform; all packaged and provided by one provider. By eliminating the need for multiple deployments and time-consuming integrations, Arya offers a lower cost of ownership compared to many other digital solutions. Financial institutions who have deployed such capabilities in a fragmented manner see their costs range from over $1 to $2 per registered customer per month. Arya can help financial institutions drive over 50 percent in cost savings with a combined system as opposed to deploying these features separately.
With Arya, financial institutions also streamline vendor management responsibilities, which further reduce internal costs. The platform is designed to adapt to changing technology and demands from today’s consumers and businesses without costly integrations, enabling financial institutions to take advantage of the latest applications on the market without the headache and cost of product development.
“Financial institutions are often penalized by technology vendors for increasing adoption and usage of their digital and mobile banking channels. More users typically mean bigger costs, creating a conundrum for community banks and credit unions,” said Murthy Veeraghanta, chairman and CEO of VSoft. “With Arya, we’re solving this challenge. Financial institutions streamline their vendor management responsibilities, which tremendously reduce internal costs. Because costs no longer become a pain point, institutions can focus on engaging more users through their digital channels, turning those channels into profit generators versus a costly fine for accommodating account holders.”
Arya, powered by VSoft Corporation, is an intelligent, open architecture digital services platform for both retail and commercial account holders that streamlines all channels under a single access point for a truly integrated banking experience. Account holders use one system for both business and consumer banking activities, with access to a variety of cash management services, all while logged into the same system. Unlike other platforms, check capture is native to the system to provide significant cost savings with no integration required. Arya uses standard real-time and file-based APIs to integrate into all core banking platforms. Built with the latest Angular technology, the platform provides a consistent user experience and is one of the most feature-rich and flexible systems on the market today with a low total cost of ownership.