Then, there are threats posed by big tech players eyeing lucrative niches in the value chain. Post-pandemic customer is more digital, and less loyal. Also, today’s banking regulations are equally about innovation (PSD2 for instance) as they are about reporting and compliance. That being the landscape for core banking software, what are the incumbent banks to do?

1. Top 5 Core Banking Software
Companies in 2022

2. As neo-banks win market
share and serve
customers at around one-
third of the cost of
traditional. Then, there
are threats posed by big
tech players eyeing
lucrative niches in the
value chain. Post-
pandemic customer is
more digital, and less
loyal.
That being the landscape for core banking software, what are the
incumbent banks to do?
Also, today’s banking regulations are equally about innovation
(PSD2 for instance) as they are about reporting and compliance.

3. Before we look at the top 10, let’s see the top 4 parameters that
distinguish the great core banking software from the good.
The answer, more than
ever, is to exploit
disruptive technologies
like cloud, mobile, big
data, microservices,
open API’s and AI. But
these technologies rely
on a robust banking
core.
1. IT cost reduced:
Removing technical debt, pushing for higher efficiencies by
leveraging cloud-based services, not to mention higher developer
productivity (via automation tools DevSecOps) – are all factors
that add to reduce costs.

4. 3. Customer-centric proposition:
Data differentiates. Modern-day core banking software support
integrated data sets and operate on a single source of truth.
This capability in turn helps create real-time personalized
experiences and brings into play, advanced analytics. Ergo.
Precise decision making and a happier customer.
2. Quicker time to market:
Employing both hyper parametrized configuration and higher
standardization levels, banks leverage automated testing – all
of which helps them to speedily develop new products and
services.
4. Mastering scale through ecosystem partnerships:
Modular architecture and API communication enables rapid
scaling. This becomes critical especially in a development
environment where core and ancillary services are relatively
cheaper.

5. Little wonder that a
McKinsey report,
highlights 65% of banks
surveyed exploring next-
gen core banking
platforms.
• Faster access to support digitization
• Flexibility in pricing
• Facilitating faster time to market
• Supporting agile and remote working
• Allows new capabilities like open banking
How were the top 5
arrived at? Simply, by
applying these five
comparisons.

6. Top 5 Core Banking Software in 2022
1. Temenos Transact:
25 years of industry-defining
banking software, Temenos
supports retail, corporate,
wealth, and treasury lines of
business. 41 of the top 50
banks use Temenos
Transact. It has been ranked
#1 for 16 years by IBS
intelligence.
Cloud-native, Cloud-agnostic, API-first, and AI-enabled, Transact
(it was called T24), allows banks to launch products in cycles
that are 10X faster.

7. 2. Mambu:
Riding on a composable approach (traditional providers lock
functions like decisioning, reporting, analytics into dedicated
applications), Mambu offers low-code, born-in-the-cloud
functionalities that lets banks scale on their terms. With
deployment across 65 countries, 200 + global customers, and a
4X higher NPS score than others, Mambu’s USP is to deliver
great modern financial experiences.
3. SDK Finance:
With 15 years in FinTech, SDK’s use-cases target neo banks, E-
wallets, currency exchanges, and online payments. The core
banking software allows creation of digital banking solutions so
financial institution can deliver reliable products and services.
Secure authentication, next-gen integration offers ease in
handling traffic; SDK finance’ includes best-in-class
personalization.

8. 4. Oracle Flexcube:
Packed with features that modernizes a bank’s core system for
today’s digital and agile demands, Oracle Flexcube places
significant value on enhanced customer engagement, increased
insight generation, and rapid integration approaches via open
architecture. The USP of Oracle’s product is the flexibility banks
get in choosing transformation models, and the associated
support across deployment models.
5. Infosys Finacle:
Finacle helps both traditional and emerging financial
organizations in their digital transformations, focused on
frictionless customer experiences. Relying on Finacle, banks
across 100 countries service 1B customers and $1.3 B accounts.
Bringing a proposition of – ‘truly digital’ – Finacle’s core banking
software offers flexible product factories, extensive
parametrization, product building and reusable business
components – all of which accelerates innovation-led growth.

9. In 2022, what is the consensus on core
banking software – final words
Most incumbent banks are
limited with legacy
platforms. Approaching
inflection points puts
distance between the
leaders and laggards, each
passing day. The post-
pandemic altered
customer behavior and
accelerated digitalization
trends, makes it necessary
to act without delay.
Once an assessment of the current core banking platform is
done, banks should choose solutions and software that greatly
increase their odds of success.

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banking-software-companies-in-2022/
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