| Title | IDEA CLOUD |
| Product/Service | CLOUD BASED INTERNET BANKING/ACCOUNTING |
| Category |
A01. Innovation |
|
Entrant Company
|
IDEA BANK Warsaw, POLAND
|
|
Advertising Agency
|
IDEA BANK Warsaw, POLAND
|
Credits
| Edyta Zbroja |
Idea Bank |
Project Manager |
| Anna Marcinkowska |
Idea Bank SA |
Project Manager |
| Aleksandra Godlewska |
Idea Bank SA |
Project Manager |
| Wojciech Nawerski |
Idea Bank SA |
Project Manager |
| Piotr Przybysz |
Idea Bank SA |
Analyst |
| Ewelina Kunysz |
Idea Bank SA |
Analyst |
| Joanna Foks |
Idea Bank SA |
Accountant |
| Justyna Grycel |
Idea Bank SA |
Product Manager |
| Edyta Wilczek |
Idea Bank SA |
Marketing Director |
| Dominik Fajbusiewicz |
Idea Bank SA |
Board Member |
| Marcin Świerczyński |
Idea Bank SA |
Analyst |
| Anna Andrzejuk |
Idea Bank SA |
Processing |
| Grzegorz Cugier |
Idea Bank SA |
Product Manager |
| Dariusz Trząsalski |
Idea Bank SA |
It |
| Paweł Punda |
Idea Bank SA |
Lawyer |
| Maciej Krasuski |
Idea Bank SA |
Safety |
| Marcin Chojnacki |
Idea Bank SA |
Risk |
| Danuta Lipska |
Idea Bank SA |
Compliance |
| Michał Puchacz |
Idea Bank SA |
Compliance |
| Marcin Dominiak |
Idea Bank SA |
Abi |
The Brief
According to a research carried out by Idea Bank, Polish medium-sized bank offering services to SME owners, entrepreneurs waste app. 75 minutes a day (a day per week) on bureaucracy. Luckily, the bank has developed a platform designed to cut red tape by half. Idea Cloud, already patented, is a secure banking cloud easily accessible by its clients, offering a wide range of services aimed at simplifying and accelerating all processes associated with complex business management - at no charge.
Idea Cloud has been developed by a team consisting of over 60 Idea Bank employees supported by two external entities – Artegence and Crossvista. Before the project was even born, Idea Bank conducted a thorough survey, asking 2000 entrepreneurs for their thoughts on cloud solutions. The results were very encouraging: two thirds declared willingness to use a cloud-based platform dedicated to business management.
The project has not yet been implemented: it will be fully functional by the end of the year. Beta version of the platform was made available to chosen Idea Bank clients in February, 2014. The bank has been developing the project since April, 2013.
Idea Cloud is the first banking cloud in Europe and the first platform combining both accounts and banking functionalities. Responsive design, user-friendly interface and innovative user experience make it a great PFM and BFM tool. Built-in services include: billing and accounts centre, late payment management centre, bookkeeping centre, liquidity management centre, data storage centre (aka ‘virtual safe’), clients and contractors management centre, correspondence centre and personnel management centre. The system is easily accessible from each and every place on Earth and can be easily managed via different mobile devices.
The system manages the personnel, forecasts damages, predicts clients' and contractors' behaviour, administers the budget and anticipates the company’s financial situation. The users are always warned of an estimated negative cash flow, just like they are informed about an upcoming budget surplus. In order to make the estimations more accurate, it is possible to import data from other services, e.g. other bank accounts.
Idea Bank has also developed an algorithm based on its clients’ financial habits. Analyzing both their routine and accounting data, Idea Cloud automatically generates a list of payments likely (or necessary) to be made in the upcoming few months. They can now be all accepted and ordered with a single command. The bank’s clients are also able to order a transfer via six different online utilities (such as Gmail and Facebook). It is all just a click away.
The project has been developed in cooperation with Artegence and Crossvista, by a team of at least 60 persons. Idea Cloud is a SaaS (Software-as-a-Service) platform - access to the system is password protected, and the connection is encrypted using SSL certificates. Anti-phishing software is an additional safety measure.
All Idea Bank's clients will be invited to move their corporate infrastructure to cloud and exploit the system at no charge. The system will be fully developed by the end of the year. It is already tested by a hundred small-scale entrepreneuers, all very satisfied with the solutions delivered.
Idea Cloud is an innovation that alters the bank’s role and its public perception. Traditionally banks have been devoted to assets preservation, granting of credits and loans and executing transfer operations. But we have found ourselves on the threshold of an intelligent banking era and the time has come for banks to develop their services and their outreach.
The bank of the future will stand as a participant of all business processes conducted by its clients. It will be more than just an anonymous service-provider – it will become a plausible business partner. This is exactly what Idea Bank aspires to. By creating Idea Cloud and making it accessible by the clients, who are now able to manage their businesses anyplace and anytime, Idea Bank managed to become the first ‘bank of the future’ already existing.