BDB migrated to BrightOS integrated core banking platform

CSoft has been a reliable partner to Bulgarian Development Bank since 1999. The two companies started their partnership by implementing the core banking platform VCSBank and focusing on sustainable evolution combined with the highest level of security. The roadmap included adding new products and services. This led to the need to upgrade VCSBank to BrightOS and open the door for additional digital transformation and better efficiency.

The upgraded core banking platform, BrightOS, uses a customer-centric approach and focuses on better reporting options and overall automation of banking processes. The new platform will lead the optimization of everyday actions and also unlock the instant BLINK payments. Bulgarian Development Bank will be able to catch up with innovative digital products and follow the trends of additional digital channels in banks’ portfolios.

Digital transformation powered by the technological upgrade

Bulgarian Development Bank has a limitless possibility for digital transformation with the migration from VCSBank to BrightOS. The new design, technological upgrade, and additional features  open the door for innovation and better efficiency. BrightOS core banking platform automates many internal processes, improves client experience with 24/7 working mode and adds an additional layer of product offerings, while also meeting all regulatory requirements in EEA.

Strategic and operational benefits:

• Saved operational time and reduced possibility of human mistakes through automated coverage of manually executed processes outside the core banking.
• Reduced risk by fully automated centralized management of loan products lifecycle, covering many special cases and exceptions.
• Lower operational risk and better security powered by fully automated one-click, end-of-day, and end-of-month procedures.
• Additional automation of mandatory reports following EBA and BNB regulations saves important expert human resources.

Functional benefits:

• Additional layer of security using 4/6 eyes principal for over 250 processes.
• Automated fees and commissions for over 1000 events in the banking lifecycle with an option for user-defined ones.
• Improved user experience by creating the possibility of remote electronic signing of documents with Cloud KEP through the security standard for Bulgaria B-Trust BISS. 
• Integrated support for real-time AML checks in less than 0.2s.
• OpenAPI capabilities with 5 new API domains and more than 50 new available API requests.