By leveraging the latest cloud innovations, banks can keep pace with the rapidly growing market and changing consumer needs.
After the cloud system was introduced to banks, 61% of the incumbents from the financial industry quoted that cloud was only a formative strategy in their IT plans. Now, a few years later, we see every bank looks at investing in cloud systems to beat the heat of the competition thereby streamlining and organizing their internal files and documentations and offering.
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Synchronizing the enterprise, building resilient operations, driving business innovation, enhancing IT security are a few of the benefits that a cloud system brings to a financial institution. With robust cloud systems on offer today, the banks of 2030 are going to look quite different from what they are today. Consumer preferences are changing, new technologies are emerging and with alternative business models, banks need to work hard and put strategies in place to prepare for the future.
Adapting to new age cloud software would be one of the cornerstones in establishing a strong foundation.
Here are 10 Cloud software that are redefining global banking:
Corniche is a cloud software designed by Megasol Technologies for private banks, offshore banks and other financial institutions that are involved in loans and payments. It offers one of the best platforms to deal with multiple currencies with minimum loss to the banks. It offers its user with a robust back end platform for payment processing, merchant and card services, and other online banking facilities.
Used by over 1000 banks all over the world, Tremenos Transact is the world’s best selling and functionally rich cloud banking system. Tremenos Transact is known for offering excellent transaction processing, product definition, unmatched operational scalability and functional depth to retail, corporate and private banks.
An interesting cloud software that establishes a seamless link between the back office of the bank and the customer. This is one of the most comprehensive online banking systems that helps banks connect with the customers. This is best for retail banking, customer on-boarding and overall digital engagement.
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CorePlus is an international banking software developed by Probanx Solution Ltd. The software supports turn key international transactions and offers various other banking solutions for commercial banks, retail banks, credit unions, micro finance options and many more support features.
Developed by Infosys Technologies, Finacle addresses all the needs of core banking in the modern world. It is a good software that helps handle cash management in retail, commercial and international banks. The payments, deposits, liquidity, limits, collaterals are all managed by Finacle.
SAP is widely used in various industries and banking is not behind. SAP for banking is a comprehensive core banking software that offers a wide range of features for retail as well as commercial banks. Payment and loan processing, online self-service support, performance and risk management and so on are handled by SAP in the best way.
As the name suggest, Oracle Flexcube has been rated as one of the most flexible software for core banking needs. The best thing about this software is that, it can be integrated with other systems and tools very easily. Multiple product modules are available for you to select from.
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NovoDoba is designed as a core banking system for mid size banks specially. It is an on-premise solution that helps retail and commercial banks to analyze, plan and streamline their entire banking processes. It helps manage the banking databases, financial services and many other operations across various locations.
When you need perfect digital channels for each of your financial offering, Bankingly comes handy. From mobile banking to 24*7 live chatbots, Bankingly is the modern software solution to help take your undertaking towards the future. With Bankingly, you can be wherever your customers want you to be.
Holvi is simple yet powerful. Holvi offers the best digital banking for freelancers and it is designed keeping in mind their requirements. Holvi is considered as a new ware of financial service for European Entrepreneurs. With an easy set-up, anyone can get this handy app and start working seamlessly with a seamless experience. The small businesses of the modern day can manage their finances very well with Holvi.
With the way technologies are innovating, it is sure that cloud systems are going to define the future of the banking system. If a bank or a financial institution wishes to have a strong hold in the future, it needs to adapt to the latest cloud technologies to meet customer needs.
