COBIS: Delivering Financial Agility for Banks

William Moss, CEO, COBISWilliam Moss, CEO
As an ace in the financial service industry, COBIS empowers financial institutions to thrive in the competitive era and adopt the growing trends in banking through a more agile approach. With an underlying vision of becoming ‘financial agility’ partners to clients, the company focuses on enhancing every step in the value chain of financial institutions down till the end consumer. “We combine the strategic preparedness of our clients with operational preparedness that we bring through our COBIS software,” says William Moss, CEO of COBIS. One of the greatest ways of enabling agility in financial institutions is through mobile banking. For the large financial institutions, providing customers access to banking needs at their fingertips is an easy task. It is the small and midsized financial institutions with minimal infrastructure that are struggling. Their challenges increase when it comes to serving the rural regions with poor connectivity and no network coverage issues. COBIS addresses these challenges by allowing these institutions to leverage their mobile banking solution even when customers are out of network coverage area and transact the process when the device comes back into the network grid.

The company’s COBIS software consists of a set of solutions for different functionalities. For example, COBIS Customer Experience is a transactional banking solution for internet and mobile banking, and COBIS Relational Banking offers products for core banking dealing with loans, deposits, and financial administration functions. “We offer financial agility through our platform that is broad in functionality, deep in architecture, and cloud-ready to address the value chain,” says Moss. Especially targeting the SMBs, COBIS offers Mainstreet, a platform to virtualize their business and bring banking services to the customers at their fingertips.

We combine the strategic preparedness of our clients with operational preparedness that we bring through our COBIS software

As strong advocates of agile methodology, COBIS has adopted agility at scale meaning all the work being carried out by the company takes place within the agile framework. The agile framework begins with the determination of the client’s initiatives based on their company strategies and creating a plan of action, which is then broken down into smaller levels of granularity handled at the management level. These pieces are further divided into parts that are executed by scrum teams comprising of multi disciplinary combinations of programmers, architects, and local scrum master. Playing the part of scrum product owner, the client can overlook the entire product development process. “The client can set the ’what’ and ’when’ of the projects, and we will work on ’how’ to accomplish it and with this level of collaboration, we deliver successful products for clients,” says Moss.

COBIS has successfully proved its proficiency in Bolivia, an underdeveloped country with sophisticated micro-financing programs for small entrepreneurs. With all banking services shifted on to COBIS, the country could deliver exceptional services to the clients by equipping loan officers with devices to transact on the streets and rural areas to provide quick loans irrespective of network availability.

With its extensive R&D, COBIS supports different types of applications such as lending and deposit app by rightly combining various engines including transaction and connection engine that Moss refers to as legos. “We provide the agility to combine and recombine these legos to address the full value chain of the banks to deliver vertical solutions that are free standing and core agnostic.” Interestingly, COBIS is also working towards implementing handsfree loan allowing users to apply for loans through a voice command. With eyes set on modernizing its architecture, COBIS is working towards operationalizing state of the art technologies like AI for financial institutions.