Banking Software

Banking Software Overview

Banking software, also called core 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). Banking platforms may provide non-banking specific features, like marketing content management, or marketing distribution. These non-banking features tailored to banks may be valuable to some companies with specific finance compliance concerns.

Banking Products

(1-25 of 63) Sorted by Most Reviews

The list of products below is based purely on reviews (sorted from most to least). There is no paid placement and analyst opinions do not influence their rankings. Here is our Promise to Buyers to ensure information on our site is reliable, useful, and worthy of your trust.
SAP for Banking

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.

Oracle FLEXCUBE

Oracle's FLEXCUBE is a system for banks featuring customer self-service portals, revenue maximization features and some inbuilt marketing features.

TCS BaNCS

TATA Consultancy Services offers TCS BaNCS, a cloud-based platform promising resiliency and scalability, as well as lower IT overhead, for banks.

Alacra Compliance Enterprise

Alacra Compliance Enterprise is a compliance workflow management software, now supported by Opus since the late 2015 acquisition.

Validis

Validis in the UK offers a platform for fast and compliant data collection to aid lenders to small businesses in making loan decisions.

AAZZUR

AAZZUR connects banks and their users to an ecosystem of fintech products in one integration. According to the vendor, it is a technology layer that makes banking enjoyable for users, while giving fintechs a perfect go-to-market channel and banks a seamless way to cross-sell to their…

Terafina Digital Account Opening & Omnichannel Sales Platform

What is Terafina Digital Banking & Omnichannel Sales Platform?Omnichannel Solutions Developed and Supported by Industry ExpertsBoasting over 5 years of comprehensive research and data gathered from work with clients, Terafina has developed a multi-faceted approach that claims…

Premier Bank Platform

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.

Synapse (formerly SynapseFi)

Synapse (formerly SynapseFi), from the company of the same name in San Francisco, si a white-label banking API, providing solutions for card issuance, payments, and account set up.

Mambu

German company Mambu offers a loans management platform for financial institutions.

MULTIVERSA FIP

MULTIVERSA FIP is a platform for integrating banking applications into a single portal, from German company CoCoNet Group.

Kasasa

Kasasa is an Austin-based online bank. The Kasasa suite provides digital marketing and account management products with marketing and access to training, compliance, research, support resources, and customized consulting.

FIS Profile

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.

MX for Banking

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.

Geezeo

Geezeo in Braintree, MA offers their white-label personal financial management (PFM) software to banking institutions.

Strands Business Financial Management

Strands in Miami offers Strands BFM, a platform for banks to support their business customers with digital applications, featuring financial reporting and analysis.

Intellect Digital Core

Intellect Digital Core is a banking software solution with a wide range of financial and risk management features from Indian company Intellect Design Arena.

Banno

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.

Bottomline Digital Banking and Payments

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.

Zafin Cloud

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.

Zafin Enterprise Product Hub

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.

Fiserv Abiliti

Abiliti from Fiserv is a digital banking solution that offers features that leverage engagement, efficiency and insights to deepen relationships and elevate consumers' experience.

Fiserv Digital Edge

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

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…

Evalueserve Pitchready

Pitchready from Evalueserve is a PowerPoint and Excel-based Suite of Productivity Tools. Pitchready enhances banker’s productivity by automating repetitive tasks, maintaining branding consistency, and providing access to frequently used content.

Learn More About Banking Software

What is Banking Software?

Banking software, also called core 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). Banking platforms may provide non-banking specific features, like marketing content management, or marketing distribution. These non-banking features tailored to banks may be valuable to some companies with specific finance compliance concerns.

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

  • Accounting workflow

  • Mobile app development

Banking Software Integrations & Ancillary Products

Because of compliance rules peculiar to banking, banking software vendors frequently 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

Banking Software Comparison

When comparing different banking software options, consider these factors:


  • Data Security: Consider what security measures each software offers. All banking software offers some level of security for compliance reasons. However, maintaining up to date digital security is an ongoing challenge for vendors. Factors like user and access management will also impact the ease of maintaining security day to day.

  • On-Premise vs. Cloud-Based: Banking software has traditionally been deployed on-premise, but many leading vendors now offer cloud-based technology as well. Cloud-based systems can be easier to deploy and reduce management costs, but also reduce direct control over business and user data.

  • Integrations: How well can each platform integrate with other systems? All modern banking systems should have some level of API integrability, but not all are equally easy to implement. Look for reviewer feedback on use cases that have integrated with systems that the bank has already implemented, such as BI tools, HR platforms, or other finance systems.


Start a banking software comparison here

Pricing Information

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.

Frequently Asked Questions

What are banking systems?

Banking systems support all of the technical and logistics needs of banks, including the front-end transactions and user interfaces for banks, as well as back-end compliance reporting and auditing functions.

How does banking software work?

Modern banking software is structured as a set of microservices that allow banks to adopt the specific functions and capabilities that they need. It usually resides on a core database for storing customers’ and businesses’ financial data.

What’s the difference between core banking and retail banking software?

Retail banking focuses on banking for the general public and non-commercial context. Core banking software encompasses both non-commercial and commercial banking software needs.