New Digital Banking Platform Consolidates for Cost Savings

April 11 — VSoft is rolling out Arya, an intelligent, open architecture digital services platform that can consolidate online banking, mobile banking and mobile deposit.

Arya’s integrated system provides one vendor for both mobile and online banking with mobile deposit natively built into the platform. This eliminates the need for multiple deployments and time-consuming integrations, creating lower cost of ownership compared to many other fragmented digital solutions. VSoft claims that while traditional, piece-meal platforms may cost institutions as much as $1-2 per registered customer per month, adoption of Arya may result in more than 50 percent cost savings.

“Financial institutions are often penalized by technology vendors for increasing adoption and usage of their digital and mobile banking channels,” said Murthy Veeraghanta, chairman and CEO of VSoft. “More users typically mean bigger costs, creating a conundrum for community banks and credit unions. With Arya we’re solving this challenge … 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.”

The platform is designed to adapt to changing technology and consumer/business demands, allowing FIs to use the latest applications without the time and costs of product development.

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