Banking Business Featured Fintech

Core Banking and Infrastructure Service Platforms Making Waves in the Industry

“At its core, banking is not simply about profit, but about personal relationships – Felix Rohatyn.”

The competition in the banking industry is intensifying. Where neobanks are giving brick and mortar branches competition, it is a daunting task for banks to stay updated. This is the point where Fintech is carving its niche in the value chain. Today’s banking giants are leveraging the power of new financial technologies, investing heavily in new innovation to put challenges behind.

It is all about operating efficiently, which is only possible by adapting to core banking technology architecture. Due to the increasing needs and demands of a digital-first process, financial institutions are rapidly embracing the ‘Banking as a Service’ phenomenon to leverage the power of integrated applications.

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Here’s a quick look at some of the top core banking and infrastructure service platforms to watch out for through 2021:

  1. Mantl

Contemporary banking that is seamlessly integrated to your core, this is what Mantl has to offer, and that’s not all. It shall come forth to help your credit union or bank to increase their deposits, streamline all the administrative tasks by offering an omni channel account opening platform. Visit the website and you can request a free demo.

  1. Yapily

Yapily offers a seamless open banking API connectivity. Yapily empowers any financial application, at any place in the world. By having Yapily by your side, you can create fantastic products to enhance the customer experience like never before. Yapily is a partner to many Fortune 500 companies, regulators and the most innovative tech startups.

  1. Railsbank

With super simple APIs, Railsbank has come forward to strengthen and support the financial industry. With their advanced features, they create simple apps that convert customer journeys as easy as the drag and drop feature. The entire global financial services are pooled into an app of your smartphone. It has the ability to process billions of dollars annually offering financial capabilities to weather the storm of competition.

  1. OnDot

In this wireless world of credit and debit cards, you need to walk an extra mile to add some unforgettable experiences for your customers. OnDot offers tools that will not only offer real time, personalized access to customers, but it will also add an instant and engaging experience for them. With OnDot, you can let them control their financial activities. The more they can control, the more they will be eager to use the card. Fiserv recently announced their official acquisition of OnDot.

  1. MX

It works with the aim of harmonizing the overall money experience. The more the customers are aware of their financial data, the more they will be satisfied by particular banking services. Amidst the chaos in todays financial systems, MX offers seamless ways to manage finances, connect, move and interact the money. From open banking to open finance, MX is capable of transforming the money experience in its entirety.

  1. Tink

Tink is a popular European open banking platform and it has already offered API’s to more than 3400 financial institutions. Tink is taking a step every day to build a robust financial future by giving access to  broad financial data across Europe via single and integrated APIs. With Tink by your side, you can offer smart, interactive financial services and add engaging customer experiences.

  1. True Layer

True Layer is open banking API based out of UK and it works on one aim – making the UK banking systems as transparent as it can. True Layer is working with many financial institutions in the UK; all the API’s that they offer are open banking compliant.

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  1. Alloy

Proud to offer a single API for banks, financial institutions and even fintech, Alloy offers an interactive dashboard to help manage KYC, customer service and frauds right from there. A bank account opened through Alloy will be secure, unified and future proofed. The decision about the authentication of a new customer is made in milliseconds.

  1. Alkami

Alkami is a platform for both, retail and business users and it offers an all-inclusive digital banking solution from user onboarding, engagement and future accounting services. The clients are given the control to upgrade their platform and can personalize their app experience as they want.

Core Banking sits at the heart of the financial industry. Traditional banks don’t hold value anymore without digitized financial services.

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