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As in previous years, cybersecurity, and the financial sector’s response to the threat of scams and fraud, was a hot topic.
Ultradata’s security solutions continually evolve in response to the changing threat landscape and new regulations.
With cyber breaches on the rise and cybercriminals employing increasingly sophisticated methods to gain unauthorised access to organisational data, it is crucial for financial institutions to continuously enhance their security measures. This ongoing improvement is essential to maintaining robust protection for their organisations.
Clients received an overview of the new security features available to protect their Ultracs environment.
These features include:
In response to the Scam Safe Accord's mandate for robust payee confirmation technology, we have introduced our solution to assist clients in meeting these crucial fraud prevention requirements.
Our approach ensures that financial institutions comply with the deadlines set by Australian Payments Plus:
Additionally, we offer an alternative solution: the CBA NameCheck Integration. This leverages the existing CBA NameCheck technology and fully integrates it within the Ultracs environment.
Our flagship fraud prevention solution, Fraud Interceptor provides financial institutions with 24/7, real-time fraud protection. As the most comprehensive financial fraud prevention solution available, Fraud Interceptor enables institutions to create and implement customised fraud protection rules in real time, adapting to the continuously evolving threat landscape.
The presentation highlighted Fraud Interceptor's core features, including Rules and List Management. This functionality offers organisations flexibility in applying fraud prevention rules, minimising customer disruption typically associated with generalised fraud prevention measures.
Over two presentations, we gave clients an overview of the Ultracs Resilience Ecosystem, and the three solutions that comprise Ultracs resilience: Ultracs Monitor, System Snapshot Manager & Desired State.
Ultracs Monitor, a solution that monitors the Ultracs environment, and provides alerts to the relevant stakeholders (customers and/or staff) of any issues with the Ultracs platform.
In an era where customers expect, and depend on, easy access to their banking platforms, it is crucial that anything impacting this access is communicated in a timely manner. Ultracs monitor sets an effective platform for a robust communication strategy that assures business continuity, regulatory compliance, and your brand's reputation.
Building on the day one Ultracs Monitor presentation, this session delved into the remaining components of the Ultracs Resilience Ecosystem: Snapshot Manager and Desired State Configuration.
System Snapshot Manager enables financial institutions to capture and visualise the Ultracs Ecosystem's operating environment, providing insights into the status of their systems at any given moment.
Desired State Configuration allows financial institutions to assess and compare the current state of their Ultracs Ecosystem database against a pre-determined "desired state," where the Ecosystem operates at optimal capacity. This feature establishes a baseline and facilitates straightforward, purpose-driven reporting on the Ultracs Environment’s daily performance.
In today's competitive loan market, user experience is as crucial as pricing and features.
Ultradata's Digital Loan solution addresses this need with a streamlined application process that guides customers through each step and delivers outcomes within minutes. Accessible across all customer touchpoints, our Digital Loan integrates seamlessly with the Ultracs environment, offering a fast, efficient, and intuitive self-service digital lending interface that sets a new standard in user experience.
With lending an integral product for financial institutions, The Lending Centre of Excellence strives to continually provide a leading lending solution for our clients.
In this presentation, we shared our learnings on the state of lending and how they will inform the next evolution of our digital lending solution. Capping off the presentation was a live demonstration of automation, and how it can streamline the lending process.
In today’s banking environment, the efficiencies made possible by automation are essential to maintaining a competitive advantage.
The various automations available in Ultracs enable financial institutions to save time performing business-critical tasks. With effective automations running, financial institutions will spend less time performing key operational and administrative tasks, and more time on the initiatives that set them apart in an increasingly competitive industry landscape: Customer service, strategy and growth-oriented initiatives.
The session featured demonstrations of common workflow automations: New member onboarding, new registration of the App, opening a new account, and staff-initiated automation workflows.
In today’s banking environment, the efficiencies made possible by automation are essential to maintaining a competitive advantage.
The various automations available in Ultracs enable financial institutions to save time performing business-critical tasks. With effective automations running, financial institutions will spend less time performing key operational and administrative tasks, and more time on the initiatives that set them apart in an increasingly competitive industry landscape: Customer service, strategy and growth-oriented initiatives.
The session featured demonstrations of common workflow automations: New member onboarding, new registration of the App, opening a new account, and staff-initiated automation workflows.
The next evolution of our key banking solutions reflects Australians’ continued shift to digital banking, and their increasing expectations around the digital banking experience.
The second session provided clients with a glimpse into the future of banking apps, with a live demo of Ultracs App 3.
Set for a staged release in the second half of FY25, Ultracs App 3 will set a new standard for the integrated digital banking experience customers increasingly expect from their banking app.
New features include:
The final session of the conference was truly rewarding, as we unveiled a preview of Ultracs 5.4, the next major release of the Ultracs Core Banking System. This update represents a significant leap forward in our ongoing modernisation efforts. Ultracs 5.4 introduces features designed to set new benchmarks for operational efficiency in the financial sector, including:
Currently, Ultracs 5.4 is in its early adopter phase.
Discover insights from different sessions, learn from leading industry experts, and dive into how technology is transforming banking. Click below to explore the other key presentations from the event.