5 innovative core banking companies in the Americas

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 are known as Core Banking.

CORE is an acronym for “Centralised Online Real-time Exchange,” which allows the bank’s branches to access applications from centralised data centers. Core banking is also being extended to the requirements of corporate clients and not only retail banking customers, thus providing a comprehensive banking solution. A core banking software is a centralised system that banks use to maintain coherent workflows for all processes. The system brings customers’ financial well-being by delivering an error-free experience.

Seeing the rise of core banking software providers, below are 5 companies revolutionising the banking industry in the Americas:

• 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 how the world pays, banks, and invests, serving over 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 optimisation. Signature is an innovative, comprehensive customer-centric banking solution that allows your organisation to flex and scale to meet changing demands. Signature serves the account processing needs of larger financial institutions and those that require customised solutions to meet specific business needs. The solution offers consistent customer information across multiple delivery channels, streamlined business processes, and the ability to mitigate risk.

• Jack Henry

Jack Henry is a well-rounded financial technology company that strengthens the connections between people and their financial institutions through technology and services that reduce the barriers to financial health. They offer one of the most dynamic, comprehensive, scalable, and customisable options for growth and an intuitive omnichannel experience as a core platform provider. Core platforms utilise cloud solutions to meet capacity. Jack Henry’s banking core platforms leverage cloud solutions to reduce IT burdens and source dedicated IT employees while lowering your operating costs and risk.

• nCino

nCino is the worldwide leader in cloud banking. In its digital-first world, the nCino Bank Operating System empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings, and regulatory compliance. As a secure cloud-based solution, the nCino Bank Operating System empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management (CRM), customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities. nCino integrates with the bank’s core and transactional systems while replacing point solutions and manual-based processes.

• Oracle

Oracle is a cloud technology company that provides organisations worldwide 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 organise and secure their customers’ data. Oracle Cloud Infrastructure offers higher performance, security, and cost savings. It is designed so businesses can 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.

ALSO READ: Global Core Banking Vendors & Landscape Report Q3 2022