CSoft has been a reliable partner to Bulgarian Development Bank since 1999. The two companies started their partnership by implementingthe core banking platform VCSBank and focusing on sustainable evolutioncombined with the highest level of security. The roadmap included adding newproducts and services. This led to the need to upgrade VCSBank to BrightOS andopen the door for additional digital transformation and better efficiency.
The upgraded core banking platform, BrightOS, uses a customer-centricapproach and focuses on better reporting options and overall automation of banking processes. The new platform will leadthe optimization of everyday actions and also unlock the instant BLINK payments.Bulgarian Development Bank will be able to catch up with innovative digitalproducts and follow the trends of additional digital channels in banks’portfolios.
“Success is where preparation and opportunity meet.” Bobby Unser
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Digital transformation powered bythe technological upgrade
Bulgarian Development Bank has a limitless possibility for digital transformation with the migrationfrom VSCBank to BrightOS. The new design, technological upgrade, and additionalfeatures open the door for innovation andbetter efficiency. BrightOS core banking platform automates many internalprocesses, improvesclient experience with 24/7 working mode andadds an additional layer of product offerings, while also meeting allregulatory requirements in EEA.
Strategic and operational benefits:
- Saved operational time and reduced possibilityof human mistakes through automated coverage of manually executed processesoutside the core banking.
- Reduced risk by fully automatedcentralized management of loan productslifecycle, covering many special cases and exceptions.
- Lower operational risk and better security powered by fully automated one-click, end-of-day, andend-of-month procedures.
- Additional automationof mandatory reports following EBA and BNB regulations saves importantexpert human resources.
Functional benefits:
- Additional layer of security using 4/6eyes principal for over 250 processes.
- Automated fees and commissions for over1000 events in the banking lifecycle with an option for user-defined ones.
- Improved user experience by creating thepossibility of remote electronic signing of documents with Cloud KEP throughthe security standard for Bulgaria B-Trust BISS.
- Integrated support for real-time AMLchecks in less than 0.2s.
- OpenAPI capabilities with 5 new APIdomains and more than 50 new available API requests.