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Core Banking Software Solutions in 2016 - Worldwide


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Title: Core Banking Software Solutions in 2016 - Worldwide

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In last two decades, banking and finance industry
has evolved technologically. Banks have deployed
technology-intensive solutions in all areas of
governance, operations, and control. With growing
dependency of the banking and finance industry on
technology, there has been a surge in the number
of companies that provide specialized services
and software for the industry. Many reputed and
old companies have recently ventured in to the
core banking software domain. There has also
been a great increase in the number of new
companies which exclusively cater to the banking
software domain. If you are a banker, the good
news for you is that you have unlimited software
platforms options to choose from and depending on
your need you can get customized solutions as
well. The year 2016 has been an awesome year
so far for the banking and finance as it
witnessed the release and upgradation of several
good core banking software. Lets take a look at
the top 5 core-banking software that managed to
steal the limelight in 2016.
Infosys Finacle
Finacle is a popular core bank software developed
by Infosys, an Indian company which is a global
leader in technology services and consulting. In
August 2015, Finacle became part of EdgeVerve
Systems Limited, a wholly-owned subsidiary of
Infosys which develops innovative software
products and offers them on premise or as
cloud-hosted business platforms. Finacle is,
currently, used by banks across 94 countries that
have a cumulative customer base of about 848
Infosys Finacle
  • Finacle is a comprehensive, integrated,
    multi-lingual, web-based modular software
    solution that addresses a number of
    banking-related technological requirements such
    as core-banking, online banking, mobile banking,
    payments, treasury, origination, liquidity
    management and wealth management. It also helps
    in customer relationship management (CRM) and
    business data analytics. Finacle has been
    identified by Forrester, an independent
    technology and market research company, as a
    long-term leader in the industry for providing
    comprehensive banking functionalities.
  • The business benefits of using Finacle are
  • Differentiated and unique customer experience.
  • Greater process efficiency.
  • Increased productivity of frontline staff.
  • Reduced processing time and data redundancy.
  • Easy account access.
  • Comprehensive view of customers across solutions.
  • Quick adaptability to changing environment.

Oracle Financial Services Software
Oracle Financial Services Software Limited, a
subsidiary of Oracle Corporation, is another
leading software solution provider in the banking
and finance industry. The companys offerings
include customized solutions for retail banking,
investment banking, corporate banking, cash
management, trade, treasury, payments, private
wealth management, asset management, and business
analytics. Oracle Financial Services Software
Limited has clients in 145 out of the total 196
countries in the world.
Oracle Financial Services Software
  • Oracle FLEXCUBE, the flagship core-banking
    solution by the company, is a comprehensive,
    integrated, and modular solution that helps banks
    manage intense competition, reduced margins, and
    increased customer expectations by supporting
    agile and business processes management using
    Business Process Execution Language (BPEL),
    service-oriented architecture (SOA), and a Web
    services-based model. A highly customizable
    solution, Oracle FLEXCUBE also enables
    integration of their-party solutions.
  • The business benefits of using Oracle FLEXCUBE
  • Increased up-selling and cross-selling.
  • Increased flexibility and interoperability.

Polaris Consulting Services (Polaris), now
known as VirtusaPolaris after its merger with
Virtusa Corporation, is another India-based
leading technology player in the banking and
financial services industry. In its 25 years of
existence, Polaris has seen the transformation of
the technological landscape of the banking and
finance industry. One of Polaris earliest
project was the implementation of the end-to-end
Retail banking solution for CitiBank India. Since
then, Polaris has come a long way.
  • Polaris Intellect Core Banking Solution is a
    widely popular core-banking solution used by
    several private and public banks across the
    world. Polaris Intellect Core Banking Solution
    ranks high on customer centricity and operational
  • The business benefits of using Polaris Intellect
    Core Banking Solution are
  • Accelerated the time-to-market.
  • Enhanced customer experience.
  • Operational flexibility.

Fiserv is a leading financial services technology
company with approximately 13,000 clients
worldwide. It has been popular in the banking and
finance industry because of its award-winning
solutions for mobile and online banking,
payments, risk management, data analytics and
core account processing. With core- banking
solutions Cleartouch, DNATM, Precision,
Premier and Signature Fiserv can offer a
suite of solutions to meet the needs of small or
big, domestic or international banks.
  • With easy to use solutions and user-friendly
    interface, Fiserv is quite a hit in the banking
    domain. Its mature service-oriented architecture
    (SOA) makes it easy for the customers to
    integrate the Fiserv product portfolio and
    third-party systems to create a customized
    solution exclusively for their needs.
  • The business benefits of using Fiserv
    Core-banking Solutions are
  • Business agility.
  • Intuitive, effective tools that increase employee

IDEALINVENT is a leading Indian technology
products and solutions company with a focus on
the consumer financial services sector.
Established in 2005, IDEALINVENT has emerged as a
leader in the domain in a very short span of
time. ConnectCoreTM is a popular core-banking
software developed by IDEALINVENT. It allows the
clients to choose their own infrastructure
platform and work with licensed as well as open
source application servers, databases and
  • ConnectCoreTM allows customization all the way to
    the database object level. The unique selling
    point for ConnectCore has been its ability to
    extend beyond making the business offerings
    accessible to the back office system, and
    arranging them on all servicing channels in a
    user-friendly manner. Any newly created business
    offerings can also be seamlessly provided to the
    client already using the software by integrated
    channel solutions through their published API
  • The business benefits of using ConnectCoreTM are
  • Complete customization of the interface for
    bank-specific workflows, processes and user
  • Single intuitive user interface that makes work
    process simpler and shorter.
  • Comprehensive view of the customers across all
    touch points.
  • Faster employee learning cycles.

Apart from the 5 core-banking software mentioned
above, the other 5 core-banking software that
managed to set a name for themselves in the
banking and finance industry in 2016 so far are
TCS Bancs from TCS Financial Solutions, T24 core
banking system from Temenos, Avaloq Banking Suite
from Avaloq, Core-banking solutions from FIS and
Silverlake Axis Integrated Banking Solution from
Silverlake Axis.
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