Blog Post

The secret behind a core banking solution from Applicon

A modern core banking solution built on a standard platform gives you the chance to optimize your customer offers – instead of dealing with operations, security, and IT support. With Applicon, you get a unique solution adapted for the Nordic banks while always standing first in line for technological innovations.

Share

kärnbankslösning

What is a core banking solution?

The core banking solution provides all the essential functions a bank requires – such as transactions, loans, collaterals, and deposits management. Added to this foundation is a layer of integration, complete with solutions where the bank interacts with its customers, employees, and other stakeholders. These connections may include payment infrastructures, bank card providers, and external actors such as the Swedish Tax Agency or various lending services. This is where the bank can create its competitive advantages.

SAP as the technical base

SAP’s comprehensive bank platform is an established foundation, on which our core banking solution is based. SAP’s solution is called transactional banking, and the platform includes functions for deposit management, loan management, and collateral management. SAP Business Partner, an application for managing customer data, is also included in the foundation. These four modules include many functions that together shape the core banking solution.

SAP is market-leading in these kinds of business systems and has all the muscle required to continuously develop/innovate and offer a solution to give you a competitive edge. With SAP as the basis of our core banking solution, we ensure that you always have access to all the necessities required to succeed.

When you’re working with Applicon, we manage SAP both in implementing and operating the core banking solution. This means you’ll never have to deal with SAP directly but can benefit from all technical advantages working beneath the surface.

Is SAP the solution I want for my bank? Find out the answer here: SAP for banking: the pillar of our core banking solution

A solution adapted for the Nordic region

SAP’s comprehensive banking solution is large and complex and operates at an international level, which means it lacks adaptions to Nordic banks and their particular conditions. To solve this, we have built a functional framework for our banking infrastructure, taking into account the unique circumstances for our market. Applicon’s connections to consumer and mortgage loans, interest and tax calculation, and other solutions for personal and corporate needs mean we can adapt entirely for Nordic actors.

For example, we have integrations with Swedish Bankgirot, Plusgirot, and P27 – a completely new payment platform for the Swedish market and a clear example of local development where SAP doesn’t innovate. This makes us one of few players in the Nordic region that can sell and implement SAP’s powerful core banking solution on this market.

Full responsibility to ensure a well-functioning solution

Our goal is to offer a core banking solution that gives you the best conditions to drive your business forward. It should always be easy to create new products, develop new offers, and build on functionality according to your customers’ needs and demands. At the same time, we take full responsibility for the implementation and integration with other banking systems.


Necessary add-ons to meet customer needs

With a standardized foundation based on SAP and Applicon’s adaptions, you can focus on differentiating yourself from other competitors through many additional services.

An advantage of Applicon’s solution is that we can easily scale down the platform to suit your current needs and grow alongside the business when required. Through various deposit, loan, and collateral management opportunities, you can utilize all the necessary services customers expect today – such as Swish, Bank-ID, Trustly, and more. In addition, the platform also offers open APIs according to open banking and the Payment Services Directive, PSD2, to facilitate communication between your bank and the outside world.

A comprehensive offer – from platform to support services

When you choose Applicon as your partner, you have the best conditions to create a unique solution for your particular bank, from systems to management and support. We can offer a full-service package for establishing and managing your banking solution and ensure that the organization and users get the maximum benefit from day one. Whether you prefer to have your core banking solution in the cloud, on-premise, or both, we can provide the additional functions, system expertise, and support required to succeed.

Learn more: Core banking as a full service – how it works

We ensure a safe and future-proof bank

Working with Applicon, you get the best of both worlds; the muscles and future innovation through SAP and the security from our customer-close collaboration. By building our solution on a globally established system where development is a priority, you’ll have straight access to all technical, modern solutions. SAP has a world-class innovative power that can’t be found elsewhere – a key to securing your bank’s future.

Applicon’s solutions are designed to meet all financial rules and requirements, which are constantly expanding. With PSD2, GDPR, and new regulations for money laundering, we guarantee that you always have the resources required to ensure compliance, today and in the future.