What Is Core Banking Solution In Banking?

By Author: gracylayla
Total Articles: 5
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Banking is not an exception to the digital revolution. Over the past decade, the banking sector has experienced an immense change in the way it functions. The rapid evolution of modern technologies such as blockchain, cloud, Open APIs and Artificial Intelligence, has completely transformed the banking, Normals. Among those technologies, Finacle Core Banking Solution has contributed to a great extent for building the digital future of banks. It helps banks to reduce efforts to roll out products and improve customer experience.

The way banks have reached out to their customers has evolved over the years. From branches, call centers, automated teller machines to online and mobile banking, channels have been the fastest to evolve. Although the modes of reaching out are different, all these channels have one thing in common - they are all banks. own channels, i.e., channels provided by banks independently and purely, as part of providing banking service.

Finacle is a Core Banking Solution that enables banks with digital banking functionalities. The software product, written in Java, C/C++, was released in the year 1999 ...
... (Stable version released in 2000). Finacle is widely used by banks across 100 countries, serves over 1.05 billion customers and 1.3 billion accounts. It is the platform of choice for well-established financial institutions, financial technology organizations (Fintech), digital-only banks, and non-financial companies.

POWER YOUR DIGITAL STRATEGY WITH A ROBUST FOUNDATION

Built on advanced architecture, Finacle Core Banking Solution offers a comprehensive suite of capabilities to power your banks’ digital transformation. With Finacle Core Banking Solutions, your bank will gain a comprehensive set of capabilities, including flexible product factories, extensive parameterization, product bundling and reusable business components, to help accelerate innovation led growth. With its real-time processing engine, open APIs and embedded customer insights, Finacle delivers one of the most advanced digital banking foundations to engage demanding consumers.