EIDIKO: Let the Specialist Do the IBM Magic
Sreenivas Bandaru
CEO
The massive assimilation of smartphones and smart devices into everyday life, and the convergence of Web2.0, has had a tremendous impact on the development of relationships with customers. While that builds, Web3.0 is already here, promoting access to information without using traditional browsers. These new technologies and market pressure require the banking sector to adapt at a pace, unprecedented in its long history of transformations. The challenges imposed by these new business scenarios and changing digital paradigms suggest that it would be inefficient for the banking sector to deal with these itself, as it risks losing focus on its greatest asset, which is adding value for its customers. Therefore, the BFSI domain players look towards delegating technical functions to specialist technology companies. A specialist is known by the comprehensive approach to solving complex business problems with point solutions and services for every node or segment of client industry. Now, having said that, banking systems have, over time built a steady and strong guardianship with IBM technologies. IBM banking solutions use cognitive capabilities alongside analytics to help banks evolve quickly and increase customer profitability, improve operational efficiency and manage risk more effectively. However, it is left to the industry players’ imagination on how to mput to use these implausible offerings by IBM in the best suited way. EIDIKO Systems Integrators has been a universal answer to these questions raised by banking giants. Based out of Hyderabad, EIDIKO Systems Integrators Private Limited, is an IBM Premier Business Partner that specializes in delivering world class business solutions leveraging IBM Technologies.
Given the progress the BFSI sector has made over the years, every bank has evolved to have a heterogeneous environment. This obviously points towards the plethora of diverse software that the banks or financial institutions procured over the period of time. And as the technology evolves in a continuous process, such entities too have to keep acquiring more solutions. Incumbent banks will need to act decisively to secure their share of the new value being created. EIDIKO fits in the gap to provide the required integration. Via IBM Integration Bus and API Connect, EIDIKO Systems enables the internal applications to ‘talk’ to each other. In a core banking system, data or information is fed and received through a large number of nodes in the network. A customer transferring fund through an internet banking portal will have the same priority as a person from the rural making the transfer by visiting the physical branch. Siloed data creeps up on banks - the result of years of painful attempts in modernization of infrastructure. A solution should sit comfortably within the system, without compromising the banks’ ability to continuously deliver. As mentioned earlier, EIDIKO deploys the IBM Integration Bus and fixates itself in the middle. The company develops the solutions in the middle and makes these omnichannel integrations possible to the robust middleware layer that EIDIKO built for the client’s business. These usually are a set of reusable services that EIDIKO puts in place within the bank’s operations which enables any channel to access customers’ Core banking information. EIDIKO accomplishes this through repeatable, reusable middleware services built on IBM Integration Bus. EIDIKO is one of the leading middleware management services providers with success stories spread across Middle East, Africa and India. This IBM technology enabler provides the Integration and automation along with middleware consolidation and transformation, middleware security management, performance and capacity management and support services. EIDIKO also evaluates middleware strategic design and optimization services to streamline any existing middleware set up.
"EIDIKO Helps Customers In Dire Need Of Such An Automated And Monitored System By Implementing IBM BPM Solution To Automate Their Various Business Processes"
Banks often have to transact with the other banks or merchants which become external to the bank. Electronic, bill presentment and collection services are developed as an enhancement to the existing cash management and remittance processing services offered by banks to large companies that send out substantial volumes of recurring bills. Complications knock when a buyer receives or is supposed to receive a cashback from the merchant site. From somewhere between the shop and merchant's application, the merchant should be making a fund transfer call to the buyer’s account. EIDIKO gets this process simplified through IBM’s solution called API connect. Using the APIs, banks and corporate customers are facilitated to interact with the merchant’s banks in an internal manner. Besides assisting organizations in implementing the IBM API
solutions, EIDIKO also caters for the API enablement of the middleware services. In a nutshell, EIDIKO has been a quintessential support system for banks through solutions like API management, API gateway, and IBM integration Bus.
" EIDIKO Also Evaluates Middleware Strategic Design And Optimization Services To Streamline Any Existing Middleware Set Up "
Simplified Banking Processes
For many financial institutions, the rapid pace of innovation, coupled with geographic expansion, has resulted in many new back-office, mid-office, and front office business processes. These processes are often at the heart of the enterprise and are the basis for what differentiates one financial services institution from another. A very basic example at ground level is the account opening process. Right from a customer filling out the form to starting to transact,there is a series of process and checkpoints. If a management executive at the top level or division level wanted to know as to why a particular branch is taking a lot of time to open an account, automation will be an answer. The process requires to be monitored at each step. EIDIKO helps customers in dire need of such an automated and monitored system by implementing IBM BPM solution to automate their various business processes. Account opening, loan processing and other business processes that define the efficiency of a bank in terms of its performance, are made seamless through this IBM BPM solution.
Giving a Taste of AI through Watson and Cognos
Despite banks’ complementing feelings of excitement and fear about artificial intelligence being one of the most transformative technologies for their business, IBM’s Watson, for a change has received a warm response. Watson is a cognitive technology and supercomputer comprising AI that 'learns' how to draw conclusions from data, natural language understanding – which allows it to read and understand unstructured data, like social media posts and digital photos – and a search engine that can comb through millions of data points in seconds. Clearly, it holds enormous promise in the long term for banks, holding humongous figures of customer data- constantly studying and using to create better customer experiences and improve operational efficiencies.
EIDIKO, leaving no stones unturned, brings the capabilities of AI to banks allowing them to reap the benefits of cognitive technologies. This systems integrator has helped customers with implementing IBM Watson along with cognitive technology product such as IBM Cognos.
Why EIDIKO is the Specialist
Serving justice to their name, which translates to 'Specialist' in Greek, EIDIKO has adopted the speciality area with IBM products. The company had humble beginnings with few people on board to now having more than 400 employees, presently accelerating the company’s growth. Working with a niche technology like IBM poses bottlenecks for organizations looking to grow in size due to the business and competition in the domain. Moreover, a business has to give significant attention while picking their workforce, as the technology implementations cannot afford to have any loose ends in terms of skills. Not paying heed to the adversities, EIDIKO pulled off a remarkable growth in scale working with the scarce niche skills in India and abroad. “While we do depend on the market to some extent, most of the staff and employees are trained internally with IBM. But we have a very unique method of getting our team enabled, making sure that we are up to date with IBM technology”, explains Sreenivas Bandaru, CEO at EIDIKO. This is one of the many reasons, why EIDIKO has been able to scale up and earn customers’ respect at the same time. EIDIKO’s years of experience and exposure to the BFSI market has catapulted the company to a status where every update in the IBM portfolio is updated to the clients. Moreover, EIDIKO’s relationship with IBM technologies has a history of successful business, which is evident by the fact that, often, even before a product is released, IBM considers EIDIKO amongst its premier partners to work alongside in order to understand the market thereby channelling a seamless access to the market. EIDIKO’s brilliance with market dynamics can be credited to the company’s decisions in the early years. While the competition was focusing on the IT market, this system integrator chose to take a different path and concentrated on the geographies of emerging market. Therefore, EIDIKO targeted India, Middle East and Africa. Presently, the company works with some of the reputed banks in Africa, United Bank for Africa, Commercial Bank of Ethiopia, Kenya Commercial Bank, and several other huge pan African banks. Hence, it's only appropriate to say that EIDIKO understands the demands of the emerging economy’s banking sector.
EIDIKO's leadership consists of IBM Redbook Authors, Architects and Practice Leads with more than 20 years' experience each. Each pillar in the EIDIKO team brings on board invaluable experience and ideas to help grow EIDIKO. With such a team in place, the company is driven with a hunger for business software development, a good track record of consistent delivery with proven success and a highly valued ability to execute the same.
" EIDIKO Also Evaluates Middleware Strategic Design And Optimization Services To Streamline Any Existing Middleware Set Up "
Simplified Banking Processes
For many financial institutions, the rapid pace of innovation, coupled with geographic expansion, has resulted in many new back-office, mid-office, and front office business processes. These processes are often at the heart of the enterprise and are the basis for what differentiates one financial services institution from another. A very basic example at ground level is the account opening process. Right from a customer filling out the form to starting to transact,there is a series of process and checkpoints. If a management executive at the top level or division level wanted to know as to why a particular branch is taking a lot of time to open an account, automation will be an answer. The process requires to be monitored at each step. EIDIKO helps customers in dire need of such an automated and monitored system by implementing IBM BPM solution to automate their various business processes. Account opening, loan processing and other business processes that define the efficiency of a bank in terms of its performance, are made seamless through this IBM BPM solution.
Giving a Taste of AI through Watson and Cognos
Despite banks’ complementing feelings of excitement and fear about artificial intelligence being one of the most transformative technologies for their business, IBM’s Watson, for a change has received a warm response. Watson is a cognitive technology and supercomputer comprising AI that 'learns' how to draw conclusions from data, natural language understanding – which allows it to read and understand unstructured data, like social media posts and digital photos – and a search engine that can comb through millions of data points in seconds. Clearly, it holds enormous promise in the long term for banks, holding humongous figures of customer data- constantly studying and using to create better customer experiences and improve operational efficiencies.
EIDIKO, leaving no stones unturned, brings the capabilities of AI to banks allowing them to reap the benefits of cognitive technologies. This systems integrator has helped customers with implementing IBM Watson along with cognitive technology product such as IBM Cognos.
Why EIDIKO is the Specialist
Serving justice to their name, which translates to 'Specialist' in Greek, EIDIKO has adopted the speciality area with IBM products. The company had humble beginnings with few people on board to now having more than 400 employees, presently accelerating the company’s growth. Working with a niche technology like IBM poses bottlenecks for organizations looking to grow in size due to the business and competition in the domain. Moreover, a business has to give significant attention while picking their workforce, as the technology implementations cannot afford to have any loose ends in terms of skills. Not paying heed to the adversities, EIDIKO pulled off a remarkable growth in scale working with the scarce niche skills in India and abroad. “While we do depend on the market to some extent, most of the staff and employees are trained internally with IBM. But we have a very unique method of getting our team enabled, making sure that we are up to date with IBM technology”, explains Sreenivas Bandaru, CEO at EIDIKO. This is one of the many reasons, why EIDIKO has been able to scale up and earn customers’ respect at the same time. EIDIKO’s years of experience and exposure to the BFSI market has catapulted the company to a status where every update in the IBM portfolio is updated to the clients. Moreover, EIDIKO’s relationship with IBM technologies has a history of successful business, which is evident by the fact that, often, even before a product is released, IBM considers EIDIKO amongst its premier partners to work alongside in order to understand the market thereby channelling a seamless access to the market. EIDIKO’s brilliance with market dynamics can be credited to the company’s decisions in the early years. While the competition was focusing on the IT market, this system integrator chose to take a different path and concentrated on the geographies of emerging market. Therefore, EIDIKO targeted India, Middle East and Africa. Presently, the company works with some of the reputed banks in Africa, United Bank for Africa, Commercial Bank of Ethiopia, Kenya Commercial Bank, and several other huge pan African banks. Hence, it's only appropriate to say that EIDIKO understands the demands of the emerging economy’s banking sector.
EIDIKO's leadership consists of IBM Redbook Authors, Architects and Practice Leads with more than 20 years' experience each. Each pillar in the EIDIKO team brings on board invaluable experience and ideas to help grow EIDIKO. With such a team in place, the company is driven with a hunger for business software development, a good track record of consistent delivery with proven success and a highly valued ability to execute the same.
