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Backbase vs. Oracle FLEXCUBE: Core Banking Platforms Comparison

What’s the best core banking platform for your business?

Competition in the banking industry is intensifying. Next-generation banks are winning market share by targeting lucrative niches in the value chain, forcing incumbent banks to review their legacy platforms. 

The good news is that there are many tools to help banks modernize quickly and efficiently. In fact, more than 65% of surveyed banks are exploring the potential of next-generation core banking platforms. 

Backbase

The vendor of choice of 80+ banks around the world, Backbase empowers financial institutions to place digital at the core of their business models. The company’s Omni-Channel Banking Platform is the preferred choice for world-renowned institutions such as Barclays, Credit Suisse, Deutsche Bank, Fidelity, ING, and many more. 

Since its launch in 2003, Backbase has been helping banks develop a compelling experience on digital channels. Today, the company impacts over 90 million end-customers daily. In-depth focus on customer experience management and unparalleled speed of implementation make Backbase a highly rated FinTech software provider. 

Oracle FLEXCUBE

10% of the World’s banked population have an account powered by Oracle FLEXCUBE. 600+ financial institutions use the company’s universal banking solution in 140+ countries across the globe.

The comprehensive, interoperable, and modular solution addresses core banking needs, enables knowledge workers, and reduces time-to-market for new products. FLEXCUBE’s front-to-back digital capabilities help financial institutions to innovate and create next-generation digital customer experiences. 

With access to advanced automation tools that rely on Machine Learning, the company’s clients can generate better insights and enhance straight-through processing. Oracle FLEXCUBE is ideally suited to help companies jumpstart their digital transformation. 

Backbase vs. Oracle FLEXCUBE

BackbaseOracle FLEXCUBE
Founded2,0031997
Number of clients80600+
HeadquartersAmsterdam, NetherlandsMumbai, India
Customer profileFinancial institutions dealing with retail, corporate, SME, and wealth management with onboarding, loans, etc.Universal, direct, private, and Islamic banks; financial and lending institutions.
Number of end-customers90 million380 million
Number of employees8009,000
Number of offices979
SolutionsRetail Banking
SME Banking
Corporate Banking
Wealth Management
Core banking software
Enterprise limits
Collateral management
Investor Servicing
Financial Services Lending and Leasing

Leading Core Banking Alternatives

There are many more worthy next-generation companies competing in the banking services market. SDK.finance and their core banking platform has been particularly successful at leveraging modern tools to help financial institutions modernize their services quickly and easily. 

SDK.finance, founded in 2013 and based in Vilnius, Lithuania, offers a highly secure and mobile-ready solution to delight banking customers and take the lead in the open banking world. 

SDK.finance Core Banking Benefits

  • Focus on growing your business while we take care of technology
  • Create a customer-centric bank with a ready-to-go core banking platform 
  • Get more than technology, tap into over 10+ years of our experience in FinTech development

Why Choose SDK.finance? 

  • A broad range of verification methods, including two-factor authentication, biometric checks, security notifications, and Strong Customer Authorization for payments.
  • Integrate SDK.finance core banking platform with other banks and let your customers add and manage all of their accounts from a single application.
  • Create personalized web interfaces, mobile, and back-office applications using our highly adaptable banking API set.
  • A wide range of integrated solutions and even more easy to connect tools perfect for your business.

Click here to learn more about the SDK.finance core banking platform, its features & functionality, use cases, integrations, and API, security, and used technologies.