visimoney
TLDR:
The article discusses five core banking platforms in India that are disrupting the banking industry. These platforms leverage the latest technologies, including cloud-based systems and open API architectures, to enhance operational efficiency and transform the banking ecosystem in the country.
Key Points:
- Core banking platforms in India play a vital role in revolutionizing the banking landscape.
- These platforms employ cloud-based systems and open API architectures for seamless integration with internal and external services.
Full Article:
Core banking platforms in India are transforming the banking sector by leveraging the latest technologies and modernizing banking operations. These platforms serve as the backbone of a bank’s operations and facilitate the seamless execution of key financial transactions.
The article highlights five core banking platforms that are disrupting the banking industry in India:
1. C-Edge Technologies: C-Edge is a joint venture between Tata Consultancy Services Ltd. (TCS) and the State Bank of India (SBI). It offers comprehensive core banking services on an outsourced Application Service Provider (ASP) model, enabling banks to integrate all branches and have a single view of the bank for effective management and control.
2. Finacus Solutions: Finacus Solutions’ core banking solution, FinCORE, redefines banking ecosystems by offering efficiency, security, and customer satisfaction. FinCORE supports various banking operations and is highly scalable, capable of managing large transaction volumes.
3. Infosys Finacle: Infosys Finacle Core Banking is a universal banking solution that helps financial institutions with core banking, lending, digital engagement, payments, cash management, wealth management, treasury, analytics, AI, and blockchain requirements. It is offered by EdgeVerve Systems, a subsidiary of Infosys.
4. PureSoftware: PureSoftware’s Arttha is a cloud-based, unified banking platform that offers core banking services for virtual banks. It is an omni-channel, cloud-ready platform based on a modular and microservices architecture. Arttha provides core banking for virtual banks, digital wallet and payment solutions, loan lifecycle management, merchant management, and agency banking.
5. TrustBankCBS Core Banking Solution: TrustBankCBS is a comprehensive, integrated, yet modular core banking solution that caters to the needs of modern banking and financial institutions. It has a strong global network of sales and service partners, offering 24×7 banking services with minimal capex and opex costs.
These core banking platforms in India are driving the transformation of the banking ecosystem by enabling seamless integration, improving operational efficiency, and reducing costs for banks. They are leveraging the latest technologies, such as cloud-based systems and open API architectures, to offer scalable and adaptable solutions that meet the evolving needs of the banking industry.
Overall, these core banking platforms are revolutionizing the banking landscape in India and paving the way for a more interconnected and technologically advanced banking industry.
