Digital Banking Platforms

Digital Banking Platforms Overview

Digital banking platforms are financial services that are provided solely online as opposed to online banking which refers to online components of banking systems that also have brick-and-mortar operations (also known as traditional banking). Digital banking relies on process automation and web-based services. In some cases, digital banking solutions also allow for cross-institutional It offers the ability for users to access financial data through desktop, mobile, and ATM services.

Digital Banking Products

(1-25 of 49) 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.

Xoom, a PayPal Service

Xoom, a PayPal Service, is an online money transfer service for quickly sending money internationally.

Chime Online Banking

Chime is an online banking solution from the company of the same name in San Francisco, allowing users to track account balances, daily transactions, and savings from anywhere with the Chime mobile app, and get daily balance notifications and instant transaction alerts any time for…

Rebank

Rebank provides a single dashboard for international startup founders and CFOs to manage all their business bank accounts, understand spend and send payments. Users can replace multiple logins with one secure login and see cash balances in real-time across all accounts. Users can…

MultiPass

MultiPass (formerly DynaPay) is a UK-based Fintech platform providing multi-currency payment accounts for businesses worldwide. The world of cross-border business transactions gets increasingly complex. MultiPass aims to develop a neo-bank solution that will meet the need for reliable…

Crowded

Crowded.me is a banking service designed specifically for clubs, groups, and their members. Traditionally, banks have compartmentalized their customers into consumers and businesses and neglected the hundreds of billions in cash flow that exists between B2B and B2C. Crowded aims…

Alkami

Alkami aims to enable financial institutions to outsmart, not outspend, the Megabanks by providing a successful cloud-based digital banking platform. The Alkami Platform humanizes digital banking so banks and credit unions can confidently grow, adapt quickly, and build a thriving…

BankingOn Mobile Banking Platform

BankingON is helping credit unions & community banks transform their mobile web apps into native mobile banking experiences. Modernizing legacy online banking systems to deliver a Mobile 1st user experience by tapping into smartphone functionality & API connectivity. Better…

Blend

Blend is a digital lending platform that simplifies applications for mortgages, consumer loans, and deposit accounts. The company enables customers to process more than $4 billion in mortgages and consumer loans per day. Erin Collard, Eugene Marinelli, Nima Ghamsari, and Rosco Hill…

Ally

Ally Financial headquartered in Detroit offers online banking, via full service auto finance operations, and boasts a complementary auto-focused insurance business, a growing wealth management and brokerage platform, and a trusted corporate finance business offering capital for…

Novo Platform

Novo, from Novo Platform in New York, is a banking platform that provides business deposit accounts to companies and is supported by a network of FDIC-insured community banks. Novo states their goal is to bring small business banking into the modern age with easy-to-use tools for…

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.

Tavant VELOX

Tavant headquartered in Santa Clara offers VELOX, a modular lending platform with modules supporting lendee engagement, document generation, a rules engine, and analytics.

ThreatMark

ThreatMark provides fraud prevention solutions. The vendor states major banks use ThreatMark's AI-powered technology to build secured banking experiences by validating their legitimate users across all digital channels, all while keeping the fraudsters away. ThreatMark aims to…

SDK.finance Digital Wallet Software Platform

White-Label Digital Wallet Software PlatformSoftware to build a standalone digital wallet on top or add electronic asset accounting functionality to an existing product. The digital wallet platform comes with a source code license. Meaning total independence to customize and modify…

SDK.finance Core Banking Software

SDK.finance offers core banking software platform for centralized management of a bank ecosystem that's available with the source code license. By obtaining the source code of the core banking solution by SDK.finance, users are ensured against hidden fees, lengthy updates process,…

SDK.finance Digital Retail Bank

The SDK.finance white-label digital retail banking platform serves as the foundation for building a next-gen neobank or a digital-only bank. Faster time-to-market speed up the release date by using market-ready core software for your bank rather than developing it from scratchSaved…

Radius Bank

Radius Bank is presented by the vendor, the company of the same name in Boston, as an innovative full-service bank offering a full complement of consumer and business products and services.

Quppy

Quppy’s all-in-one, all-digital financial solution aims to combine money, markets, and payments in a way that makes sense and fits in with the future. • Functionality:Quppy allows users to keep cryptocurrency in different accounts within the same wallet and conduct transactions,…

Zero

Zero is a digital banking experience that aims to combine the simplicity of a debit card with the cash back of a credit card, from Zero Financial in San Francisco. Zero is powered by a checking account (Zero Checking) to hold money, a credit card (Zerocard) that makes rewards possible,…

Nymbus

Nymbus, a digital banking solution from the company of the same name in Miami Beach, aims to enable any size financial institution to launch a full-service digital bank in under 45 days, convert an existing bank or credit union to a technology and services ecosystem, and innovate…

Sybrin Apex

Sybrin is a global technology company in the provision of payment and information processing solutions with particular emphasis on Voucher Processing, EFT, Day 2, Automated Clearing Houses, Mobile Commerce, Host Banking enhancements, and KYC amongst corporations, banks, and clearing…

ABLE Origination

End-to-end loan origination platform for banks and FinTechABLE Origination software automates the entire lending process end-to-end. Financial organizations can operate the system with little to no human interaction and make personalized offers based on a 360° customer view. ABLE…

StashFin

StashFin is a digital lending platform that offers online applications for personal loans, providing simple and fast approval and disbursal for loans. It was started by a team of former financial services professionals in the industries of consumer finance and capital markets. It…

DriveWealth

DriveWealth is a digital trading technology company that develops cloud-based, API-driven brokerage infrastructures.

Fluency

Fluency is a CBDC proprietary blockchain platform.

Learn More About Digital Banking Platforms

What are Digital Banking Platforms?

Digital banking platforms are financial services that are provided solely online as opposed to online banking which refers to online components of banking systems that also have brick-and-mortar operations (also known as traditional banking). Digital banking relies on process automation and web-based services. In some cases, digital banking solutions also allow for cross-institutional It offers the ability for users to access financial data through desktop, mobile, and ATM services.

Digital Banking Solutions Features & Capabilities

The banking features common to most products in this category are as follows:

  • Standard checking and savings account with competitive interest rates to traditional banking
  • Mobile apps
  • Real-time transaction alerts
  • Digital wallets (cardless/checkless payment systems)
  • Person-to-person payments
  • Remote deposit
  • Financial management tools
  • Deposit insurance
  • Free ATM transactions with participating sister branches
  • Data encryption and compliance with international security regulations

Digital Banking Platform Comparison

When on the market for a digital banking solution, consider these key characteristics when making your shortlist:

  1. Futureproof: Look for a digital banking platform with an emphasis on adapting to the quickly changing landscape of digital banking. This ensures you won't have to switch platforms as new features and capabilities come along.
  2. Security: This may seem like a no-brainer, but ensure your digital banking platform has a reputation for being a secure choice. Make sure certifications are easily found on its main website and that said certifications are from reputable organizations.
  3. Customer service: Given that you won't be able to speak with representatives face-to-face as with traditional banking, make sure your digital banking platform has a strong customer service component. While many of these platforms are designed for self-service, you may still run into some issues, or simply have some questions, that you'll want to be addressed quickly and easily. Customer service contact information should be posted prominently and made easy for you to access.
  4. Integrations: Your digital banking platform should have integration with other third-party finance apps such as digital wallets or even your other financial institutions. Open banking is becoming more common and is a great way to manage your finances across accounts.

Start a Digital Banking Platform comparison

Pricing

As with traditional banking, personal digital banking accounts can be opened for free with no fees. Business accounts can also be opened for free without any annual fees as well, which is a major draw of this category. However, in some cases, for premium features such as financial management and reporting or analysis, there may be associated fees.

Digital Banking Solutions Best Of Awards

The following digital banking solutions offer award-winning customer relationships, feature sets, and value for price. Learn more about our Summer Best Of Awards methodology here.

Best Of Summer 2022 Awards Winners for the Digital Banking category. For Best Relationship, first place is Xoom, a PayPal Service. For Best Feature Set, first place is Xoom, a PayPal Service.

Related Categories

Frequently Asked Questions

What are digital banking platforms?

Digital Banking Platforms host financial services solely over the internet, as opposed to online systems operating as extensions of traditional brick-and-mortar banks. They offer users access to financial data through desktop, mobile, and ATM services, frequently utilizing process automation.

How does a digital bank work?

A digital bank is essentially a virtualization of customer needs and requirements offered in a physical bank. Customers will interface with the banking services via software and applications, which will facilitate secure transactions and forwarding data traffic end-to-end to the bank. The bank owns and manages all steps in this process. The physical fundamentals of traditional bank architecture (teller, vault, security etc) are transformed into web services.

What is the difference between digital banking and online banking?

Online banking describes how customers transact with legacy institutions of physical banks, and is more like a service arm of the bank;s suite of products. Typically there is still a need for customers to interface with tellers for more complex issues and financing. Digital banking encapsulates the dynamics of traditional banking into web-based interactions and service integrations. They package the core banking services into as many internet-enabled options as is operationally possible.