Financial technology company Fiserv offers the Premier Bank Platform to banking institutions, providing an environment to integrate data and manage bank operations in a simplified browser-based interface.
Banking Software Overview
What is Banking Software?
Banking software supplies the infrastructure to build, deploy, and administer financial products. Additionally, banking software stores account-holder data in compliance with local law. It also handles financial transaction processing and accounting. Finally, banking software is responsible for the look and feel of online and mobile banking, customer self-service portal, and other customer interactions.
Top banking software vendors are sophisticated in banking as well as software. They offer design consulting and understand the stringent compliance needs of financial institutions. Top banking software vendors emphasize flexibility and customizability, to suit personalized customer experiences and financial products.
Beyond common features of banking software, banking software vendors offer platforms tailored to the needs of different kinds of banks (e.g. retail, corporate, etc). And banking platforms may provide non-banking specific features, like marketing content management, or marketing distribution. This is of use given the compliance concerns present in all aspects of finance and banking.
Banking Software Features & Capabilities
Features common to core banking software are:
Real-time account & transaction processing
Financial product builder
Customizable interface and product workflow
Customer self-service portal & management
Online payment processing & bill pay
Source capture & remote deposit
Customer interaction (e.g. live chat)
Account-holder transaction history tracking
Account-holder data & document store
Multi-currency funds management
Financial instrument workflow
Mobile app development
Banking Software Integrations & Ancillary Products
Because of compliance rules peculiar to banking, banking software vendors offer suites of ancillary products. These may cover the business needs for specific kinds of financial institutions. Some modules and add-ons from popular vendors cover:
Fraud risk management
Financial crime mitigation
Line of credit & credit background check
Loan origination & servicing
Corporate supply chain financing
Customer wealth management
Investor servicing & accounting
Enterprise content management
Marketing resource management and automation
Banking investment & operational intelligence
Support for Islamic banks
Because banks vary widely in size and specialty costs of banking software vary in the extreme. Few banks meet their needs with simple subscription-based offerings. Banking software tends towards very high modularity and pricing depends on the breadth of modules and services required, as well as licenses and installations.
Listings (1-25 of 26)
Swiss company Temenos offers their establishing banking software for corporate and retail banks, as well as other kinds of banks such as those run in accordance to Islamic law, cooperatives, and non-bank community financial institutions. Temenos features a wide swath of bank management features,...
SAP offers banking software, with a wide range of features for customers of retail and commercial banks, featuring mobile and online self-service support, and on the institution side revenue, performance and risk management, along with payment processing and loan management.
FIS headquartered in Jacksonville Florida offers a range of banking solutions, namely Profile, a cloud-based solution for payment processing and operations automation for commercial and retail banks.
Intellect Digital Core is a banking software solution with a wide range of financial and risk management features from Indian company Intellect Design Arena.
MULTIVERSA FIP is a platform for integrating banking applications into a single portal, from German company CoCoNet Group.
TATA Consultancy Services offers TCS BaNCS, a cloud-based platform promising resiliency and scalability, as well as lower IT overhead, for banks.
MX Technologies in Lehi Utah offers a suite of applications for banks, including data aggregation and a multi-platform framework for payment and transfer processing.
Oracle's FLEXCUBE is a system for banks featuring customer self-service portals, revenue maximization features and some inbuilt marketing features.
Alacra Compliance Enterprise is a compliance workflow management software, now supported by Opus since the late 2015 acquisition.
Banno is a suite of applications for banks with back office features for providing customer support, and customer facing applications for self-service. Banno is offered by Jack Henry & Associates.
Geezeo in Braintree, MA offers their white-label personal financial management (PFM) software to banking institutions.
German company Mambu offers a loans management platform for financial institutions.
Strands in Miami offers Strands BFM, a platform for banks to support their business customers with digital applications, featuring financial reporting and analysis.
Plaid in San Francisco offers a suite of applications supporting banks with risk management and customer account management features.
Validis in the UK offers a platform for fast and compliant data collection to aid lenders to small businesses in making loan decisions.
Q2ebanking is a virtual banking platform, offering a unified banking experience anytime, anywhere, on any device.
Kasasa is an Austin-based online bank.The Kasasa suite provides innovative products with world-class marketing and access to training, compliance, research, support resources, and customized consulting.
Zafin in Toronto offers their Enterprise Product Hub to retail and corporate banks, providing support and automation for product design with personalization and product bundling, as well as distribution support and other product management features.
Toronto-based company Zafin offers their core banking solution, the Zafin Cloud, to retail banks. The cloud-based solution offers product management with automated fee, rate and offer tracking, and precise customer segmentation.
Bottomline Technologies in New Hampshire offers Digital Banking and Payments, a platform which provides payments and cash management for banks, as well as customer experience and marketing capabilities oriented towards banks servicing small-to-medium size business customers.
Fiserv, a financial technology company headquartered in Wisconsin, offers Agiliti, a cloud core banking platform available to lending entities in the UK.
Fiserv offers the Digital Edge suite of applications to banking institutions, supporting automation in customer service and digital experience, secure real-time money movement, and personalized digital banking experience.
Penta is a digital bank account for SMEs and startups designed to let business owners save time and money on banking. The vendor says it offers more features than traditional banks, such as the ability to get multiple Mastercards per company or low foreign transfer rates. Penta says its vision i...
Computer Services, Inc (CSI) headquartered in Paducah offers the NuPoint core banking platform, providing a flexible cloud-based infrastructure supporting operations, compliance, and supplying robust reporting.