In the report, “A Banker’s Guide to Core Banking Systems for Latin America,” Gartner evaluated Core Banking platforms, including Technisys’ next-generation digital banking platform
CyberBank the digital database platform Technisys, is highlighted as one of the major players by Gartner in the report: “The Banker’s Guide to Core Banking Systems for Latin America ” ( Guide Core Banking platforms for Latin America). Technisys offers an API-centric, cloud-native platform with open banking capabilities that allows banks to develop applications and services to meet all of their customers’ financial needs. Gartner offers bank executives and their teams a practical, objective view.
Cyberbank Core is Technisys’ next generation digital banking platform. The platform allows financial institutions to differentiate themselves in two fundamental ways: creating and delivering personalized financial products to customers at market speed, and delivering meaningful recommendations dynamically across all channels. Cyberbank’s cloud-based technical architecture has a unique structural flexibility that gives banks a primary advantage in meeting changing consumer needs and behavior.
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In the report, Gartner highlights that in the region: “the market for Core Banking platforms grew 8.6% in 2020 compared to the previous year, one of the fastest market growth rates in the world”. It also highlights that “commercial functionality is no longer a key differentiator for Core Banking in Latin America. Rather, it is the technical architecture, the cloud offering and the ecosystem that make the difference among the many offerings”. According to Gartner: “Easy integration between a Digital Core Banking platform and a bank’s channels is an essential selection criteria for this technology. Currently, most banks are looking to replace their Core to better integrate with new APIs provided by third parties (such as fintechs).
“To help Latino banks meet the needs of a very diverse market, Cyberbank – our next-generation digital banking platform – enables financial institutions in the region to offer affordability, convenience and choice,” says Miguel Santos , Technisys Co-Founder CEO .
Gartner defines a Digital Core Banking platform as “a back-end platform that processes daily banking transactions and updates accounts and other financial records. A Core Banking platform typically has deposit, loan and credit processing functions and interfaces with balance sheet systems. general, in addition to information tools”.
With Cyberbank, financial institutions can grow smoothly as the market demands, whether for one, hundreds or millions of customers. Today, Cyberbank enables banks and fintechs to deliver an exceptional user experience to more than 100 million banking customers in 16 countries, while growing and enabling new incremental revenue streams through product lifecycles. In Latin America, some of Cyberbank Core’s clients are: Banco Original, Banese, Veloe and CSU in Brazil, Davidienda in Colombia, and Cordial in Argentina .
Gartner, A Banker’s Guide to Core Banking Systems for Latin America , Vittorio D’Orazio, May 26, 2021
Gartner does not endorse any company, product or service described in its research publications, and does not advise technology users to select only those companies with the highest ratings or other designation. Gartner research publications consist of the opinions of the Gartner Research and Consulting organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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