3 core-banking softwares revolutionizing the banking industry in USA

By Edlyn Cardoza

Banking today has grown extensively as a business. It continues to transform itself from a deposit-taking and loan providing space to an institution with an umbrella of products and services. All services initiated by a bank is known as Core Banking. 

By definition, Core Banking means a centralized system acquired by a bank that allows its customers to manage their business. CORE is an acronym for ‘Centralized Online Real-time Exchange,’ allowing the bank’s branches to access applications from centralized data centres. Core banking is also being extended to the requirements of corporate clients and not only retail banking customers, thus providing a comprehensive banking solution. 

Seeing the rise of core banking software providers, below are three companies revolutionizing the banking industry in the USA. 

FIS Global: FIS is at the heart of the commerce and financial transactions that power the world’s economy. They are passionate about helping businesses and communities thrive by advancing the way the world pays, banks and invests, serving more than 20,000 clients and more than one million merchant locations in over 130 countries. FIS stays ahead of how the world is evolving to power businesses across merchants, banking and capital markets to outpace today’s fast-changing competitive landscape and help their clients run, grow and achieve more for their business. 

Fiserv: Fiserv, Inc. is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. It aspires to move money and information in a way that moves the world. Fiserv enables money movement for thousands of financial institutions and millions of people and businesses in a world that never powers down.

Oracle: Oracle is a cloud technology company that provides organizations around the world with computing infrastructure and software to help them innovate, unlock efficiencies and become more effective. They also created the world’s first – and only – autonomous database to help organize and secure their customers’ data. Oracle Cloud Infrastructure offers higher performance, security, and cost savings. It is designed to move workloads easily from on-premises systems to the cloud and between cloud and on-premises and other clouds. Oracle Cloud applications provide business leaders with modern applications that help them innovate, attain sustainable growth, and become more resilient. The work we do is not only transforming the world of business–it’s helping defend governments and advance scientific and medical research. From nonprofits to companies of all sizes, millions of people use our tools to streamline supply chains, make HR more human, quickly pivot to a new financial plan, and connect data and people around the world. 

ALSO READ: Global Core Banking Vendors & Landscape Report Q3 2021