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What are Banking Core Systems?
Banking core systems (also known as core banking platforms) are the backbone software that processes daily banking transactions and updates accounts and financial records. Modern core banking systems enable real-time processing, multi-channel support, and API-driven integrations.
Types of Banktech Providers
- Core Banking Vendors – Full-stack platforms handling deposits, loans, and transactions (Temenos, FIS, Fiserv)
- Cloud-Native Cores – Modern, API-first platforms built for agility (Mambu, Thought Machine, 10x Banking)
- Digital Banking Platforms – Front-end and omnichannel solutions (Backbase, Q2)
- Lending & Workflow – Specialized loan origination and automation (nCino)
- Wealth Management – Private banking and wealth solutions (Avaloq)
Key Selection Criteria
When selecting a banking core or banktech provider, financial institutions typically evaluate: deployment model (cloud vs on-premise), API capabilities, regulatory compliance, migration complexity, total cost of ownership, and vendor stability.