Having implemented multiple core platforms including core banking, lending, payments, treasury, I believe that the time is ripe for disruption ahead in this field… When banks are getting pushed ahead by digital, these platforms are becoming a deterrent.
Most of these platforms (not all) are
– Complex to implement
– Challenging to upgrade
– Expensive
– Not amenable for quick change
– Slow to provide APIs
These platforms have pushed the banks forward in last 2 decades… But the expectations for next five years are:
– Low cost of acquisition
– Short period of implementation
– Quick and simple upgrade
– API and multichannel ready
– Low complexity in front offices and back offices
– Smart (AI / ML ready)
– Auto recon etc
Nymbus Leveris Mambu Finxact are providing core banking on cloud….