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The democratization of financial services did not only touch the consumer side but opened a spectrum of opportunities for entrepreneurs to launch and sustain online banking businesses with little to no IT resources involved. Banking software companies played a critical role in both enhancing existing infrastructures, and almost removing barriers for entering the business at a reduced time and low development costs. Here are some examples of banking software providers that are powering online banking solutions:
Apex Banking System
Apex Banking System is a comprehensive solution for the integral processing of all operations in a financial organization (core banking solutions). In addition to providing functional support for each one of the products and services offered by a financial institution, Apex Banking System includes an accounting system that complies with all accounting and compliance reporting standards.
Capital Banking Solutions
Capital Banking Solutions is a provider of end-to-end, integrated banking software for businesses across Europe, Africa, the Middle East, and the Americas. The company offers a suite of integrated and modular products for retail, corporate and private banks as well as financial institutions. In 2010, Capital Banking Solutions merged with AdTek Information Systems, Inc. and IntellEval to form a global organization that offers clients integrated software products and customized software solutions tailored to the needs of the financial services industry. The merger has enabled Capital Banking Solutions to extend its reach to the US and Latin America as well as address the issues of financial security.
Dais Software
Dais Software is a software development company that focuses on solutions for electronic channels for the banking and finance industry (Internet banking, mobile banking, EBPP, call center, etc.). The company has been recognized as a leader in its primary line of business, being the vendor of choice for online banking solutions for top banks operating in Central and Eastern Europe. The product portfolio of the company includes also frameworks for Web content management, security, messaging and system interoperability.
Ebanq
Ebanq is a user-friendly online banking software app. It is a turn-key solution for small- and medium-sized banks, savings & loans, credit unions, trust companies, and anyone else managing client funds. It is also the only mobile-ready, “out-of-the-box” solution in its market segment.
Finacle
Finacle is a core banking product developed by Indian corporation Infosys that provides universal banking functionality to banks. In August 2015, Finacle became part of EdgeVerve Systems Limited. Finacle is used by banks across 84 countries that serve over 450 million customers. Finacle’s banking software solutions and services help global banks operationalize core banking transformation by providing a holistic and integrated approach.
Fisa Group
The Fisa-System is a modular integrated banking system for retail, commercial, international and offshore financial institutions. Thanks to its flexible and parametric architecture, it offers an integrated core banking solution that automates the business and allows the rapid creation of banking products, reducing operating costs and increasing profitability.
iCBS by Virmati
iCBS is a centralized core platform for universal banking solutions aimed at retail banking, Islamic banking, internet banking, mobile banking, and branchless banking. It is the core platform for Commercial Bank, Central Regulator Bank, Rural, and Agricultural Bank.
Its core banking features include:
- Browser-based clients
- Alerts & electronic distribution
- Multi-currency
- Cash maintenance (unit-wise)
- Globalization: Language and calendar compatibility
- Sweep account facility
- KYC (know your customer) standard
- Service branch clearing (Indian content)
- Bulk account opening (through excel sheet) & account open form printing
- Calculation methods highly parameterize
- Bank credit line/customer credit line/customer security line
- Menu rights
- Online NPA (non-performing assets)
- Maker & checker concept
- Bank profile/branch profile
- Anti-money laundering reports (AML)
IDEALINVENT
Established in 2005, IDEALINVENT has been providing innovative solutions for financial institutions over the past 10 years. IDEALINVENT is a technology products and solutions company with a focus on the consumer financial services sector. The company offers B-SaaS (banking software-as-a-service), which leverages the company’s suite of financial technology products. IDEALINVENT targets digitally focused financial service providers. These providers include innovative retail banking institutions, marketplace lending platforms, payment institutions, card providers, and alternative financial service providers.
The company’s product ConnectCore is a suite of three components: service delivery, transaction processing, and data management. ConnectCore — Core bank, which handles transaction processing, is based on true SOA architecture that enables simple implementation, integration, and operation; achieving the objective of “simplifying banking solutions” that the product was founded on. ConnectCore — Channels & Mobility is a truly integrated, customer-centric, service delivery platform for the bank of the future. ConnectCore — PaymentGrid is a payments hub for payments value chain.
Mambu
Mambu is a cloud platform which lets companies rapidly build, integrate, launch, and service any lending portfolio into any market. SME lenders, FinTechs, and banks can use Mambu as the engine of their digital-first banking service.
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