With the advent of technology, banks also adapted online systems to enhance and improve banking processes. The purpose was to save the time and effort of bankers and customers through quick and easy transactions. Core Banking software is used to cope with the fast-paced world and improve customer experiences in financing.
Incorporating IT with this system provides advanced security and easy connectivity to banks. As a result, they can efficiently use complex data and improve their visualization abilities to assist high-end users.
The market is quite competitive, and many providers offer services in different ranges. In this blog, you will get to know the top core banking software companies and why one should choose any of them.
What is Core Banking Software?
CBS is a centralized system that banks use to maintain consistent & coherent workflow for all processes. A Data’s single view to all branches helps users in doing transactions without visiting a home bank branch. The system brings customers’ financial well-being by delivering an error-free experience. There is less human interference with the data allowing automated systems to respond and decreasing the chances of scams.
The positive impacts that CBS has on banks are as follows:
- Real-time facilities
- Reporting & analytics
- Data storage and safety
- Error-free financial delivery
Looking for Core Banking Software?
CBS is the engine of any bank as it controls money proceedings, balances entries, and information of users. This software comprises architects connected with APIs, giving them complete command over customers’ data. The purpose is to offer a hassle-free digital customer satisfaction, and this is only possible because of the advanced features that this system offers, such as
- Centralized dashboard
- Onboarding with KYC features
- Loan management
- Interest calculation
- Transaction management
- Customer account management
With the help of all these features, CBS has solved the problems related to finances while reducing operational costs. Many banks have software to manage the process, but others have outsourced it to fintech vendors. The software comprises features that are already integrated into the system to offer limitless services to the banks.
For bankers, the Development of their own financing system is complex and laborious. Therefore, it would be best to outsource this tricky task to trustworthy vendors. We have a list of top core banking software companies and their specialities to help you throughout the process.
Comparison Table of Top Core Banking Software Companies
|Company (founded / location)||No. of offices/employees|
N0. of clients/end-customers
|Customer profile & Solutions|
|Temenos (1993 / Geneva, |
|68 / 4600 |
3000 / 500 Million
|Retail, corporate universal, |
private, Islamic and microfinance
& community banks.
|Mambu (2011 / Berlin, Germany)||8 / 200+|
150 / 14 Million
|Alternative lenders (p2p, |
and SME lenders),
and mobile banking providers
|Backbase (2003 / Amsterdam Netherland)||9 / 800|
80 / 90 Million
|Universal, direct, private, |
and Islamic banks; financial
and lending institutions.
|Oracle FLEX CUBE (1997 / Mumbai, India)||79 / 9000|
600 / 380 Million
|Universal, direct, private, |
and Islamic banks;
financial and lending institutions.
|Finacle (1999 / Banglore, India)||6 / 2800|
1300 / 1 Billion
|Retail, corporate, universal, |
and Islamic banks; lending providers
|Finastra (2017 / London, UK)||60 / 10,000+|
9000 / 175 Million
|Corporate and retail banks, |
lenders, treasuries, and
capital market players
|FIS (1968 / Jacksonville, Florida)||44 / 55 |
20 / 1 Million
|Consulting and outsourcing |
solutions focused on retail
and institutional banking
|Forbis (1990 / Vilnius)||2 / 103|
800 / 12.2 Million
|Internet & mobile Banking, |
credit card services, management
|nCino (2011 / Wilmington)||5 / 1,2|
5000 / 7 Million
|Bank Operating System to |
solve business challenges,
|Novatti (2015 / Australia)||3 / 100|
114 / 30.3M
|Fintech, billing, and business |
Top Core Banking Solutions Software List
Good software can handle large amounts of data while simplifying overall processes for users & bankers. Many providers offer such software in different ranges, but the one that comes as a new company on the list is “FinHost.”
Our core banking system is fully automated with no human interference, which is why transaction processes go error-free. Our team of experts will support you to success with their experience and expertise. Moreover, it is reliable and secure because it owns a certificate of PCI DSS Level.
FinHost – New Digital Banking Software
As a hub of financial technologies, it provides customizable APIs to companies. One can add or remove services in one click as this core banking platform is user-friendly. The solutions that fintech offers are as follows:
If you are looking to experience a seamless digital financing experience, then check FinHost digital banking services and reduce your operational costs.
It came into the market in 1993, and since then, it has provided exceptional solutions for finances. With its high-end technology, it provides a wide variety of ways for the integration of systems. The availability of software for all industries, including private banks, retail, and corporate, makes it more unique and accessible.
Mambu is spread in many countries worldwide. It has almost 14M users relying on its services. Its cloud-based approach has helped hundreds of startups in their payment and loan services. The tools that it provides to the clients for building and maintaining a loan portfolio are incredible.
Backbase, with headquarters in Amsterdam, is chosen by many banks worldwide. It improves banks’ digital processes with its Omni-channel platform. Due to its customer-centric approach and proactiveness in digital fintech services, it is rated as one of the top vendors.
Oracle FLEXCUBE delivers its projects to banks in almost 140+ countries while dealing with core banking systems. Its complete suite of digital solutions aids banks and institutes in creating a banking experience that stays for future generations.
Finacle, with its cloud-based system, is providing solutions to 100+ countries. It offers open APIs, a real-time processing engine, and analytics to ensure growth for its users. In addition, this easy-to-use core banking platform provides fast and safe solutions and has advanced features.
Finastra provides services in 130+ countries and provides end-to-end lending solutions to every kind of financial institute. The software is designed according to the needs of present-day users. Moreover, it has modular technology that makes functionality quicker and free of risks.
Intending to make the future secure and digitized, FIS has its network all around the world. It breaks the barriers between financing and humans by providing solutions based on researched data and valuable insights from experts.
The hands-free approach of Forbis is to turn complicated finance systems into more straightforward payment methods for all types of users. Its robust digital approach in fintech, currency exchange, and banking systems.
With its ready-to-go module, Bricknode offers solutions for peer-to-peer lending, portfolio management, deposit, and saving accounts. In addition, its fully developed cloud-based system helps startups digitize their financing in the easiest ways.
It is considered one of the top CBS vendors due to 100% open-source code that enables it to integrate new technologies and gateways for the support of clients. In addition, its software setup and installation is easy. Moreover, It is available in different languages with additional features & updates on a regular basis.
nCino was founded in 2011 to enhance transparency and profitability with the help of cloud-based software. In addition, it improves employees’ efficiency across loans and deposits while providing end-to-end solutions to customers.
A digital payment company allows users to transact money anywhere from any device. It processes 2 Billion transactions annually with millions of satisfied customers aiming to create a cashless society. Their solutions include card issuing, transactions, and subscription billing.
It offers technologies and integrated applications helping banks adopt digitalization for financing purposes. Its intelligent approach offers all sorts of banking solutions, including risk management in a private and public cloud.
With 35+ years of experience in Fintech and 6M merchant locations globally, Fiserv has served large enterprises and small businesses in their financing journey. Its CBS software, with advanced and up-to-the-mark qualities, is the best choice for bankers to improve clients’ financing processes in less time.
What is the best core banking software?
The best core banking software is the one that is composed of architects connected with APIs and has the ability to change the data according to the needs of customers. In addition, it must have features that are already installed in the system for transaction processes, payment methods, onboarding, and KYC services to ensure uninterrupted digital experiences.
What is Core Banking?
Core stands for Centralized Online Real-time Environment that enables customers to make transactions from any bank branch. The CBS software connects multiple branches to provide services like withdrawals, management of loans, and account management. In this way, it helps both banks and clients to experience transparency and error-free transactions.
Which bank software is best?
Finhub bank software is one the best banking software to be used in 2023. Its 600+ third-party modules and microservices provide all solutions for fintech-related issues. In addition, it has a certificate of PCI DSS Level 1, ensuring complete safety for data and transaction purposes.
What are the top core banking software companies?
Top core banking software companies cover everything for a bank while maintaining a cloud-based system accessible and user-friendly for all. Here is the list:
- Oracle FLEXCUBE
All the above vendors added to the list as the top CBS companies have one thing in common: they are striving to bring the digital revolution to financing systems. They have software that handles complex information and breaks it down into simpler data making accessibility possible for banks and clients. From issuing of cards to transactions, they help you throughout your transaction processes and expand the boundaries of the Fintech world.
Just Set it & Forget it
Looking to outsource your financing process? FinHost can be the best choice for you as its solutions are future-proofed. Just follow the simple steps and experience a universe of digitalization under one roof.
- Open account within minutes
- Connect your required API
- Get access to test environment
- Add requirements
- Pay the amount
You are all ready to expand your business with a well-equipped system.