A move to the cloud drastically improves the banking dynamic by enabling true agility. Connecting legacy technology, orchestrating new processes, and creating new experiences are all made easier with a cloud core. Its flexible nature makes it significantly faster, scalable, and adaptable to change, allowing businesses to respond to challenges and opportunities quickly.
Time to market and speed in the market are much greater with a cloud core. Banks can capitalize on narrow windows of opportunity created by ever-changing consumer preferences with new products, services, and features rolled out in weeks instead of months. With the flexibility to deliver new functionality continuously, companies can deliver the best service to their customers.
The modular cloud core banking approach
Any current banking product involves intricate management of core systems, payments, transaction processing, decisioning, analytics, reporting, authentication, fraud prevention, security, and many more. Instead of integrating these functions into individual applications and workflows, modular banking separates them to be combined in any configuration to create new services and improve old ones.
Modular banking is an agile approach for developing and delivering financial products based on the quick assembly of independent systems that helps banks create engaging customer experiences. The cloud core approach enables banks to compete with fintechs and continuously evolve their services to respond to new changes.
By applying agile principles to design, build, and launch new functionality, businesses can release new capabilities in weeks instead of months. Integrating in-house components with best-for-purpose third-party ones allows banks to create a competitive advantage by rolling out distinct products.
With an agile banking core platform, cloud, and APIs, banks of any size can become proactive instead of reactive in a continuously evolving market.
API-first core banking software provider SDK.finance
Global core banking software providers like SDK.finance provide technology and support banks and fintechs of all kinds at every stage of the digital transformation from market research to product launch and scaling. The digital retail banking software is available in all popular formats: web, iOS, and Android applications that help to reach the new generation of mobile customers quicker.
Power BI dashboards for banking are designed for key decision-makers such as CEOs, CFOs, stakeholders, KYC, compliance, financial, and marketing managers to find insights, make confident decisions in different parts of the payments business, and achieve synergy with powerful results.
Not to mention that SDK.finance is offering a 1-Year payment deferral for all companies with financial licenses issued by any country of the European Union to help minimize the negative economic impact of the global COVID-19 outbreak.
Banking customers can benefit from a modern and secure experience guaranteed by two-factor authentication, biometric checks, security notifications, and Strong Customer Authorization for payments.
The Platform consists of 5 main components: a back-end wrapped in 400+ API endpoints, 3 front-end frameworks, and a web for system management with capabilities in iOS and Android for our clients.
Advantages of software that is built on API-first architecture:
- The speed of releasing new features and functionality is much faster
- The cost of ownership is more economical
- Fewer bugs and more stable products exist
- Better flexibility, scalability, and features are just some of the advantages of the SDK.finance core banking software ready for German banking.