India’s Leading Companies in the Core Banking Software Solution Market

Core Banking Software

Trust Fintech Limited is a prominent Indian software development company specializing in BFSI, Core Banking, SaaS-based Banking, SAP Business One, mobile app development, ERP implementation, and artificial intelligence solutions.

What is the Core Banking software?
Banks utilize complete platforms called core banking software solutions to handle key functions like loan processing, account management, transactions, client relations, risk, and compliance. Their seamless experience for clients is ensured by their integration with several channels, such as the internet and mobile banking. In order to improve productivity and regulatory compliance, these systems additionally include security features and reporting capabilities.

The term “core banking software” describes the fundamental equipment that banks employ to administer financial services and products. It includes a number of features that are essential to banking operations, including customer service, regulatory compliance, loan and credit management, account management, and transaction processing. Modernizing banking operations, improving client experiences, and allowing banks to adjust to technological breakthroughs in the sector are all made possible by core banking software.

What are the types of core banking software?

There are four main types of core banking solutions available:

1. On-premise: These are desktop-based digital banking solutions that banks can install within their existing infrastructure. They are highly customizable and run on the bank’s local servers, with all data stored locally.
2. Web-Based: Web-based banking solutions are offered by third-party service providers. Customers and bank employees can access these solutions from anywhere using a username and password.
3. Cloud-Based:Cloud-based banking solutions store data on secure remote servers to ensure maximum safety and availability. They are often offered as Software as a Service (SaaS) to various banks by trusted fintech companies.
4. Open Source:Open source core banking solutions allow users to modify the code to match their specific business needs. Banks can leverage this type of solution when looking for features not provided by third-party vendors.

What are the benefits of using a core banking system?

• Enhanced Productivity:Core banking platforms increase operational efficiency by reducing the time it takes to connect with multiple branches, enabling faster transaction processing regardless of the client’s physical location.
• Improved Security: Core banking systems use advanced encryption modules to protect the infrastructure from hackers and malware. Additional security features like bio-verification and two-factor authentication enhance platform security, helping banks maintain KYC standards and comply with banking regulations.
• 24/7 Access to Banking Services: In the era of contactless payments, round-the-clock access to bank services is crucial. Core banking platforms ensure that users can conduct financial operations anytime and anywhere, as the platform remains operational 24/7, allowing clients to contact customer support for assistance at any time.
• Lower Operational Costs:Banks can reduce operational costs by relying on core platforms that require fewer human resources. AI-powered infrastructure increases the completion rate of operations, reduces errors in documentation, and streamlines processes, leading to cost savings.
• Multiple Currencies:Users can trade in multiple currencies instantly without the need to exchange large amounts at currency exchange centers, enhancing convenience for international transactions.
• Money Transfer Software: Core banking solutions facilitate the development of remittance apps with white-label money transfer software, enabling seamless and secure money transfers.

Trust Fitech Limited, India
Trust Fintech Limited (TFL) was established in 1998. TFL has been involved in providing Software Solutions and Services in the field of Banking, ERP Implementation and Customized Software Solutions Development, SAP B1 and Offshore IT services.

Our team is committed to provide IT Services with Quality, Latest Technology, Innovation, 24 x 7 Support 365 days. We are committed to provide development and tech-support teams to software and high–tech companies with the required infrastructure at a competitive rate from our State of the art development centers based in Nagpur, Pune & Mumbai in India. We aim to be the best at what we do.

Overview

• Established in 1998 and serving BFSI Vertical since its inception.
• ISO 27001-certified company.
• Global Footprint in 20+ Countries.
• Strong team of 300+ dedicated professionals.
• Authorized GST Suvidha (GSP) provider in India.
• Empanelled with the Govt. of Maharashtra as an IT service provider for state-wise computerization.
• Microsoft Gold Partner AS is an “Independent Software Vendor (ISV)”.
• CMMi Level 5 Certified Company.
• Ranked among the top core banking solution providers globally.
• Strong 200+ customer base globally.
• Global Partner Network for Sales and Support to Customers.
• CRISIL rated the company “High Performance Capability and High Financial Strength (2A)”.
• Intel Software Partner.
• Empanelled by NeGD as an agency for the integration of different applications with the e-government system (under Digital India),.

Visit our site for more information: www.softtrust.com