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Top Core Banking Software Companies List in 2022

Top Core Banking Software Companies List in 2022
Alex Malyshev
Top Core Banking Software Companies List in 2022

What’s the best core banking software in the world?

Competition in the banking industry is intensifying. Next-generation banks using core banking software 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 is a lot of core banking software to help banks modernize quickly and efficiently.

Core banking (centralized online real-time exchange) is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.

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In fact, more than 65% of surveyed banks are exploring the potential of next-generation core banking platforms. 70% of banks are now actively reviewing their core banking platforms, according to a McKinsey survey from May 2019. Accordingly, more core banking providers are working on their products. These banking software solutions companies choose various models of software delivery. Some of them work on a subscription model, while others provide white-label on-premise products.

Top Core Banking Software Companies List in 2022

Core banking software is the most crucial part of every bank. Banking software is the engine behind the creation and management of accounts, balances, transactions, journal entries along with the storage of client data, receipts, and other reporting tools.

Good soft relies on composable architecture connected by APIs that allows decoupling distribution channels, products, and client data. This particularly agile architecture enables them to make quick changes in architecture while providing a continuous digital customer experience.

Onboarding, payments processing, card issuing, and KYC services have to be then integrated into the core banking software. Some core banking system providers offer integration with these tools’ vendors or develop their own products you can integrate into your neobank software solutions. However, it is better not to rely on one vendor, but to prioritise digital retail banking solutions that work on balanced, ready-for-integration products, that do not limit you with features and functions you will integrate into it.

Developing a core banking software in-house is a complicated and time-consuming process that can overwhelm teams and delay product launches. As such, very few banks have their own banking platforms.

Revolut, N26, Tandem, O2 Banking have outsourced their core banking software from FinTech providers. New cloud-based platforms with pre-integrated key features help to assemble best in class products and launch them at a much faster pace and lower capital expenditure.

We have prepared the Top Core Banking Software list to talk about the best products in the world. We did not want to create a core banking system ranking, as it is hard to find metrics for estimation. At the same time, we analysed the features of prime banking software solutions companies that operate now and highlighted details about their services, product features, and expertise.

Top Core Banking Solutions Software List

SDK.finance

Top Core Banking Software Companies List in 2022

SDK.finance is core banking software provider with a strong API layer for banks and FinTechs. Founded in 2013 by a team with 15+ years of experience in fintech and based in Vilnius, Lithuania, online banking software vendors that offers a highly secure and mobile-ready solution to delight banking customers and take the lead in the open banking world. This core banking platform offers everything you need to launch your payment product.

A real-time processing engine of SDK.finance white label retail banking software solutions consists of 5 main components: a back-end wrapped in 400+ API endpoints, 3 front-end frameworks, and web for system management with capabilities in iOS and Android for clients. This banking software is flexible and high scalable for the fast-growing banks and financial companies.

Any payments related products can be built on the SDK.finance platform:

  • Neobank

Build neo banking products and launch them with ready-made software at a much lower cost.

  • E-wallet

A ready-to-go solution for EMIs and PIs (including AISPs and PISPs). Create a product like Paypal®, Alipay®, or PayTM®.

  • Digital Retail Bank

A complete stack to build a best-in-class digital banking solutions.

  • Money remittance

Help migrants transfer money abroad as Transferwise® does. Currency exchange is a part of the product.

SDK.finance core banking software demo video


SDK.finance platform is available as a cloud SaaS version or on-premise with the source code giving you the independence from the vendor.

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Temenos

Top Core Banking Software Companies List in 2022

Founded in 1993, Temenosis one of the world’s top core banking software systems. After over 25 years of providing best-selling bank software for financial institutions, Temenos boasts unbeatable experience and a wide range of system integrations. 

The rich functionality of core banking software solutions and cutting-edge technology made Temenos the go-to for over 3,000 current clients and 41 of the world’s top 50 banks, serving more than 500 million customers every day. The banking software platform is designed to help retail, corporate, and private banks manage transactions, risk, enterprise credit, and much more. It offers T24 banking software. Their expertise allows them to be in top 10 banking software companies.

Mambu

Top Core Banking Software Companies List in 2022As a relative newcomer, core banking software vendor Mambu has established itself as a rapidly growing supplier of banking solutions. In the two years since its founding in 2011, Mambu’s platform was adopted by 100 microfinance organizations in 26 countries around the world. 

Today, the Berlin-based start-up services over 150 banks, fintech, and telecom companies with over 14 million end-users being one of the active digital banking platform providers. Mambu helps top financial software companies like Santander, N26, and Orange to rapidly design, launch, and scale their digital-first banking and lending services.

With banking software built from the cloud upwards, Mambu’s SaaS engine is a powerful alternative to costly and complex traditional core banking systems. Besides its cloud approach, Mambu provides its clients with tools to build, integrate, and launch any lending portfolio. 

Backbase

Top Core Banking Software Companies List in 2022The core banking software 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 banking technology oriented companies 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. An in-depth focus on customer experience management and unparalleled speed of implementation place Backbase among highly rated digital banking vendors.

Oracle FLEXCUBE

Top Core Banking Software Companies List in 202210% of the World’s banked population has an account powered by Oracle FLEXCUBE. 600+ retail banking software solutions use the company’s universal banking products in 140+ countries across the globe.

The comprehensive, interoperable, and modular bank software 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 retail banking software & solutions.

Finacle

Top Core Banking Software Companies List in 2022Finacle, developed by Infosys is one of the cloud-based core banking solutions that helps financial institutions modernize their cloud-based banking services. The platform is used by banks in 100+ countries and serves 1 billion end customers worldwide backing banking technology companies.

With open APIs, embedded customer insights, and a real-time processing engine, Finacle banking systems software offers a comprehensive set of features that are sure to accelerate innovation-led growth. The highly modular solution was designed to speed up the production of new products and accelerate digital adoption.

A trusted partner to over 1,300 clients, Finacle delivers faster, safer, and fully personalized core banking services being one of the prominent core banking solutions vendors.

Finastra

Top Core Banking Software Companies List in 202290 of the world’s top 100 banks by asset size are partnered with real-time core banking processing engine Finastra. With clients in 130 countries worldwide and one of the broadest sets of financial software solutions on the market, Finastra is able to serve all functions of all types of financial institutions.It makes the company one of the interesting banking system vendors.

By harnessing the platform’s flexible and open technology, Finastra’s clients can go from legacy banking to transparent, innovative, and agile online banking solutions. With Finastra’s modular technology stack, financial institutions can launch and deliver new functionality quickly with less risk.

FIS

Top Core Banking Software Companies List in 2022 FIS is an American company that offers a wide range of financial products and services. Headquartered in Jacksonville, Florida, FIS employs approximately 62,000 people worldwide.

FIS was founded in 1968 as Systematics. It offers its core banking solutions in three primary segments: Merchant Solutions, Banking Solutions, and Capital Market Solutions.
The list of products includes Banking Hardware, Core Banking, Card Issuing and Processing, Digital Payments, Commercial Lending, Fraud, Risk and Compliance and other banking and payments-related services. FIS is among digital banking platform providers with a variety of different products.

Learn more about the SDK.finance platform

Features & functionality, use cases, integrations, and API, security, and the technologies used.

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Forbis

Top Core Banking Software Companies List in 2022Forbis is an IT company working on various products in the finance industry. It focuses on the digitalization of the banking process and related products. The company also provides consultations and training on core banking development as supplemental services.

FORPOST is the main product. It is a cloud-based core banking SAAS solution for account management, payments, deposits, currency exchange, etc. The company states that they are experienced in CEE and CIS markets and offer features for their local clients. However, it is hard to predict whether all of its products work accordingly in any other region.

Securepaymentz

Top Core Banking Software Companies List in 2022Securepaymentz is one more company that offers a core banking solution for the market. It develops the platform for virtual banking. The platform has all common features for money operations, accounts administration, and currency exchange. The company states that this financial platform is flexible and easy to install on your server.

Securepaymentz has a subscription model for its core banking platform. They offer regular updates and easy interpretation of additional features for their customers. The better your subscription is, the faster you will get the update. The question is, what will be the queue of the active customers waiting for it. Though their price model is more affordable than a one-time purchase, subscription and platform maintenance by Securepaymentz’s team may cost more in the long run.

nCino

Top Core Banking Software Companies List in 2022nCino was founded in response to an inconvenient commercial loans system back in 2012 in North Carolina, USA. In less than 10 years, it evolved into a vendor of a sophisticated end-to-end nCino Bank Operating System® based on the Salesforce platform. Designed to streamline the routine operations, it also enhances customer experience and employee efficiency, and reduces expenditures.

nCino’s Bank Operating System® is accompanied by a range of cloud solutions for SME- and commercial banking, retail banking, mortgage, cash management, customer engagement etc. Today, nCino’s platform is powering multiple financial institutions all over the world and demonstrating steady growth.

Novatti

Top Core Banking Software Companies List in 2022Novatti is one of the key players on the fintech market, enabling businesses, as they put it on their website, “to pay and be paid”. This digital banking and payments company provides transaction processing along with accepting payments, card issuing, subscription payments solutions to businesses of all sizes in 58 countries, fostering a cashless society.

With its 20 years of experience behind, Novatti offers a range of robust technology solutions for branchless banking, donations management, digital wallet etc. Being a Visa Principal Partner and Issuer, the company also caters for fintech businesses willing to provide customers with branded prepaid cards by issuing both physical and virtual Visa cards.

Bricknode

Top Core Banking Software Companies List in 2022As the name suggests, Bricknode is a composable cloud banking platform that offers a framework for building financial businesses. Using Bricknode Core as a foundation, or an operating system, as the company names it, its customers can use the ready modules for trading, funding, lending, deposits etc or develop their own apps and connect them via the platform’s API.

Originating from Sweden, Bricknode now operates globally, fostering digitalization for businesses of all sizes. Apart from the financial infrastructure, the team is ready to negotiate custom development projects.

Comparison Table of Top Core Banking Software Companies

TemenosMambuBackbaseOracle FLEXCUBEFinacleFinastra
Founded199320112003199719992017 (merger)
Number of clients3,00015080600+1,3009,000
HeadquartersGeneva, SwitzerlandBerlin, GermanyAmsterdam, NetherlandsMumbai, IndiaBangalore, IndiaLondon, UK
Customer profileRetail, corporate, universal, private, Islamic and microfinance & community banks.Alternative lenders (p2p, marketplace personal and SME lenders), deposit-taking institutions, and mobile banking providers.Financial institutions dealing with retail, corporate, SME, and wealth management with onboarding, loans, etc.Universal, direct, private, and Islamic banks; financial and lending institutions.Retail, corporate, universal, community, and Islamic banks; lending and payment providersCorporate and retail banks, lenders, treasuries, and capital market players
Number of end-customers500 million14 million90 million380 million1 billion175 million (retail accounts)
Number of employees4,600200+8009,0002,80010,000+
Number of offices688979660
SolutionsInfinity – Digital Front Office
T24 Transact – Core Banking
Payments
Infinity Wealth
Fund Management
Composable banking
Cloud banking platform
Mambu Process Orchestrator
Retail Banking
SME Banking
Corporate Banking
Wealth Management
Core banking software
Enterprise limits
Collateral management
Investor Servicing
Financial Services Lending and Leasing
Corporate, Retail, Universal, Community Banking Suites
Payments Connect
Digital Engagement Hub
Retail Banking
Transaction Banking
Treasury and Capital Markets
Investment Management

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Top Core Banking Software Companies List in 2022

FAQ

What’s the best core banking software in the world?

A good core banking software relies on composable architecture connected by APIs that allows decoupling distribution channels, products, and client data. This particularly agile architecture enables them to make quick changes in core banking software while providing a continuous digital customer experience.
Onboarding, payments processing, card issuing, and KYC services have to be then integrated into the core banking software.

What is core banking technology?

Core banking (centralized online real-time exchange) is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.

What are the top core banking software companies

Temenos, SDK.finance, Mambu, Backbase, Oracle FLEXCUBE, Finacle, Finastra are the top core banking software companies to start with.

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