The Global Fintech Index has unveiled a list of FinTechs offering a next-generation Core Banking System globally. We are thrilled to be considered as one of these innovative market players 👨💻
Rooting for the core
Getting the right core banking infrastructure, is essential to building an agile, digital financial services business. Luckily for incumbents or scaling fintechs, there’s a solution for that – fintech innovators are unbundling every imaginable component of Core Banking and digitizing it, increasingly building on the cloud and designing it with an API-first modular mindset.
Core banking is an umbrella term. Core banking may focus on serving a particular segment, like retail or small businesses, or any size of corporate. It can be focused only on payments, the core of economic activity, or scaled to include deposits, loans, and trading.
For any of these business lines, core banking activities start with KYC, customer onboarding, account opening, transaction management. Then it may include, interest rate calculations, credit processing, and other life-cycle management processes depending on the financial contract managed.
Why the landgrab?💡
It’s hard to overestimate the benefits of building a modern core infrastructure – particularly for incumbents. These include:
- Ending batch processing
- Faster time to market with new innovations
- Agility to optimize innovations after launch
- Faster integrations with third parties and partners
- Serving customers in real-time
…even the flexibility to update the business model as the market shifts. Banks everywhere should be rooting for the core if they’re serious about building digital-first businesses.
TagPay offers a Next-Gen Core Banking System (CBS). Cloud-native, our solution allows financial institutions to imagine, configure, and integrate new products or user experiences through an open, flexible, and scalable architecture. TagPay offers a banking environment that meets the highest security standards. Our Next-Gen Core Banking System enables financial institutions (retails banks, digital banks, payment and e-money institutions, …) better meeting their customers’ expectations with new digital financial products.
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Innovation. FinTech. Digital Banking. Neobanks. Open Banking. Core Banking System. Cloud.
News • March 25, 2021
Webinar - The digitization of financial services: humanization or dehumanization?
On April 7th, TagPay and Financial Afrik will organize a panel discussion about the next-gen Core Banking System and its impact on financial services and customer relationships. This webinar aims to illustrate the evolution and digital transformation of the retail banking market.
TagPay, the technological partner you need to build your financial institution.
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