Banks need to provide digital ways to their customers in managing their bank accounts. With core banking software, banks can start digitalizing themselves and their operations as they seek to operate in a time when cash payments feel out of trend. Here are some of the best core banking software available right now.


15+ Core Banking Software

1. Finacle

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Rating: 4.4/5

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2. TurnKey Lender

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Rating: 5/5

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3. Episys

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Rating: 5/5

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4. Temenos T24 Transact

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Rating: 4.8/5

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5. ICBS

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Rating: 5/5

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6. MX

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Rating: 4.8/5

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7. NCR D3 Digital Banking Platform

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Rating: 4.7/5

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8. Symitar EASE

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Rating: 4.6/5

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9. Avaloq

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Rating: 5/5

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10. FusionBanking

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Rating: 4.9/5

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11. Mambu

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Rating: 4.8/5

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12. Cobis Core Banking

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Rating: 4.6/5

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13. CoreBank

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Rating: 5/5

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14. Ken-CBS

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Rating: 4.7/5

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15. Meridian.NET

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Rating: 4.4/5

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16. SDK.Finance

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Rating: 5/5

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What Is Core Banking Software?

Core banking software is a banking software that helps establish a financial management software system for banks. This core banking application empowers banks to manage their funds, financial transactions, and customer interactions in a digitalized software setting.

Benefits

Core banking software brings banks to the new digital age where banking can be done even through smartphones and tablets. The core banking solutions software also helps banks provide better services so they can serve their customers better. The software also helps banks comply with regulation laws on banking through its compliance management software tools. The software also provides financial marketing tools in an attempt to attract new customers while maintaining relationships with their existing customers. The software also provides new ways for banks to reach out to their customers by providing mobile banking apps that put more convivence for customers to perform banking transactions on smartphones. The software also guides bank managers to see which banking services are useful and can bring profit for the bank company, as well as track customer feedback towards their services as well as monitor the cash flow done through bank transactions from customers.

Features

Core banking software should provide tools for banks to establish a system where customers can create their bank accounts. The software should also be able to document any banking activity such as transactions and communications in real-time. The software should also be able to provide banking management tools to customers to manage their bank accounts. The software should also provide financial history for customers and banks to keep track of their purchases and incomes documented by the core banking software. The software should also provide compliance management software tools for banks to comply with various regulation laws such as financial, security, and privacy. The software should also be able to generate financial and tax reports for customers and banks. The software should also be able to support multi-currencies as banking activities can be done overseas if necessary for the customers.

  • Create bank accounts
  • Track banking activity
  • Bank management tools
  • Financial history
  • Compliance management tools
  • Generate financial and tax reports
  • Multi-currency support

Top 10 Core Banking Software

1. Temenos T24 Transact

Temenos has 4,246 employees and earns annual revenue of $552 million.

2. NCR D3 Digital Banking Platform

NCR has 36,000 employees and earned a revenue of $6.92 billion in 2019.

3. FusionBanking

FusionBanking is owned and developed by Finastra, which the parent company has 16,667 employees and earns a revenue of $1.9 billion.

4. Cobis Core Banking

Cobis has 742 employees and earns a revenue of $141 million.

5. MX

MX has 769 employees and earns annual revenue of $100 million.

6. Mambu

Mambu has 725 employees and earns annual revenue of $94.3 million.

7. Meridian.NET

Meridian is owned and developed by CSI, which the parent company has 179 employees and earns annual revenue of $26 million.

8. CoreBank

CoreBank has 118 employees and earns annual revenue of $24.8 million.

9. TurnKey Lender

TurnKey Lender has 123 employees and earns annual revenue of $17.8 million.

10. Finacle

Finacle has 47 employees and earns a revenue of $9 million.

FAQ

What other software does core banking software integrate well with?

Core banking software integrates with accounting software and HR software as they provide back-office software tools to manage banking-related processes such as payroll. The software also integrates well with business intelligence software and data management software as they provide advanced financial analytics solutions for core banking software.

Can core banking software be done from mobile apps?

Yes. Core banking software can be operated through mobile apps through mobile banking initiatives. It gives convivence to users who wish to do baking duties at the convivence of their hands through their smartphones.

How much does core banking software cost?

Pricing for core banking software is usually customized, with each software offering different subscription tiers that offer more features as the prices increase. Pricing for core banking software varies depending on the features available and the intended target banks and companis. Small banks and companies may benefit from low-cost core banking software while large and bank companies may benefit from high-cost software.

With core banking software, banks can help their customers easily with its digital tools that bring them into the new age of banking.


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