How to choose a core banking platform

There are a lot of different banking platforms to choose from for those who want a manageable and straightforward off-the-shelf solution rather than a tailored alternative. By choosing a standardized platform, you can quickly gather all functionality and data in one place while increasing the level of security and meeting the customers’ needs in a more streamlined way.

This guide list 10 important questions to consider before choosing your next core banking platform. By reviewing these questions, you will cover all necessary aspects – from which systems are market-leading to what future promises a core banking solution could hold for your bank.

Questions from the guide:

  1. Which platforms are market leaders?
  2. Is the system a complete solution from start to finish?
  3. Can the solution handle all our business areas and customer offerings?
  4. What should you consider when choosing a supplier?

What is a core banking platform?

Today, 97% of the Swedish population is using digital bank services, and Sweden is at the very frontline of development. The core banking platform provides all essential banking functionality such as transactions, loans, collaterals, and deposits management. Added to this foundation is a layer of integration where the bank interacts with its customers, employees, and other stakeholders. This is where your bank can create its competitive advantages.