Scotiabank is currently using Profile to process new mortgage loans, and expects to covert its existing portfolio in early 2007. Profile has also been fully integrated with the bank’s front-end systems across more than 900 domestic retail branches and four call centers.
FIS says its product delivers access to real-time information which streamlines business processes, enabling Scotiabank to offer an enhanced customer experience. The integrated system also allows for future migration of the bank’s other lines of business onto a single platform.
Profile enables Canadian financial institutions to service mortgages, home equity lines of credit, and unsecured revolving credit and fixed credit products. The system is designed to operate in a fully-outsourced environment or in-house, depending on the particular institution’s needs.
According to FIS, companies using Profile as their core banking system experience industry-leading total cost of ownership benefits, based on lower infrastructure costs, ongoing operating costs and increased productivity.