Core banking and payments technology
What is a Core Banking System? 7 Key Features
Last Updated: July 12, 2023The core banking system refers to the primary software infrastructure that powers the essential banking operations of a financial institution such as a bank, electronic money, or payment institution. It serves as the central hub for managing customer accounts, transactions, and various banking services. What is the Role of a Core Banking System? The core...
What are Legacy Core Banking Systems? The Complex Nightmare
Last Updated: July 11, 2023A legacy core banking system refers to outdated software infrastructure that was typically implemented in the past and is still in use by some financial institutions today. These systems were built using older technologies, architectures, and coding practices, which can pose challenges in terms of flexibility, scalability, and integration with modern technologies. The Most Common...
What are the key advantages of using a SaaS cloud-based banking system? Top 7 reasons why to avoid developing your own
Last Updated: July 11, 2023The rapid digital transformation within the banking industry has paved the way for SaaS (Software-as-a-Service) cloud-based banking systems to take center stage. These innovative platforms are revolutionizing how financial institutions operate, bringing about an impressive array of benefits that are reshaping the landscape of banking operations. Advantages of SaaS cloud-based banking systems The adoption of...
Is using an open-source technology in core banking software development safe and secure?
Last Updated: July 12, 2023Safety and security are crucial considerations when using any technology stack in core banking software development, including open-source components. Using open-source technology in core banking software development can be safe and secure when implemented correctly. We will discuss some of the key reasons why below in more detail. Community-Driven Security: The Power of Many A...
What are the advantages of using an open-source database in modern cloud-based whitelabel bank software?
Last Updated: July 12, 2023When it comes to constructing modern, cloud-based whitelabel bank software, the use of open-source databases brings an array of benefits that supersede licensed counterparts like Oracle or Microsoft SQL Server, and others. The advantages are vast, spanning areas such as cost-effectiveness, flexibility, customization, compatibility, and enhanced security, solidifying the position of open-source databases as a...
What advantages RESTful API has over SOAP API?
Last Updated: July 12, 2023In the sphere of core banking software, a key decision involves choosing the appropriate web service communication protocol. Today, we’ll discuss why RESTful APIs (Representational State Transfer) offer several advantages over SOAP APIs (Simple Object Access Protocol). Simplicity, Flexibility and Ease of Use RESTful APIs are simpler, easier to understand and use compared to SOAP...
How does the use of GraphQL Federation enhances RESTful APIs?
Last Updated: July 12, 2023When building a robust, high-performing core banking system, implementing GraphQL Federation can significantly augment RESTful APIs. Let’s delve into how GraphQL Federation adds value to your RESTful APIs, and why it’s a crucial part of a modern core banking system. A Single Unified Endpoint: Streamlining Access GraphQL Federation creates a unified API endpoint, effectively acting...
Key principles and advantages of the microservices architecture in payment software solutions
Last Updated: March 3, 2025The surge in popularity of microservices architecture is no accident, particularly when it comes to developing modern cloud-based payment software solutions. This innovative approach boasts a plethora of key principles and benefits, enhancing flexibility, scalability, and maintainability. Here’s a deep dive into the fundamentals and merits of microservices architecture. Service Decomposition: The Essence of Modularity...
What are the benefits of integrating container and orchestration technologies such as Docker and Kubernetes into the deployment of cloud-based software for bank systems?
Last Updated: July 26, 2023Containerisation and orchestration technologies such as Docker and Kubernetes offer game-changing advantages in the deployment of cloud-based core banking systems. These tools enhance several facets of software for banks, including portability, scalability, and fault tolerance. Further, we will delve into details of how they achieve this. Portability: Consistency Across Platforms Containers encapsulate the core banking...
What are the typical security measures undertaken by the cloud core banking systems developers to address the security concerns of financial institutions?
Last Updated: July 13, 2023In the modern world of financial technology, the cloud-based banking system security measures has become a paramount concern. Developers tasked with creating these sophisticated systems implement a myriad of strategies to safeguard against potential threats. It is a delicate process that requires a robust and multifaceted approach, much like a chess game, where every move...
What is required of the SaaS cloud-based core banking software to enable the financial institutions to provide banking as a service or a superapps?
Last Updated: July 13, 2023To effectively serve as a Banking as a Service (BaaS) platform, or to power a financial superapp, a Software as a Service (SaaS) cloud-based core banking system must adhere to certain critical requirements and capabilities. Let’s delve into these key elements that make a system the ideal solution for banking as a service. Modular Architecture:...