What makes core banking architecture compatible with mobile banking?
Posted by Mukti Soman on March 26th, 2019
Since the last decade, banks and other financial organizations have started digitalizing their internal operations. Now this transformation is being assisted by a number of banking software solution products that are available in the market. These software products are commonly known as core banking software. The core banking software basically helps the bank maintain a common cloud based database which eventually helps in streamlining the banking operations. However, most of these software products come with a fixed and non-customizable architecture which might not satisfy the management of many banks. This is the reason why several banks go for customized banking architectureso that they can digitalize the operational processes in the way they want. In order to customize any core banking software the assistance of a software technology company is a must.
The good thing is that today there are a number of software development companies which provide core banking solutions of their own. At the same time, these companies provide support to business organizations so that they can develop their own core banking architecture. If a bank wants to develop its own core banking software, it would be very wise to hire the services of such companies. The decision of choosing the best company would depend on the inputs of the research team of the bank. Our recommendation would be to go for a core banking solution providing agency which has earned ample experience in the market and enjoys a good reputation for its performance.
Another thing which should be considered while developing core banking architecture is its ability to become mobile friendly. It is a known fact that people have started preferring the usage of mobile applications for banking activities. The best way to increase general usage of the application is to enhance the quality of the user interface of the mobile banking applications. In this regard, banks are lucky to have a number of agencies within their reach. These agencies are proficient sin designing mobile banking solutions.
The mobile banking solutions must be malleable enough to get aligned with the banking solutions. If the mobile banking architecture fails to integrate with the newly developed banking architecture, the whole exercise would be a failure. This is the reason why many banks are opting for redeveloping their mobile banking applications.
Core banking is the future of banking technology and it is expected to stay the same for years. If a bank is planning to wait for a few more years before opting banking, it is definitely making a huge mistake.
About the AuthorMukti Soman
Joined: March 14th, 2019
Articles Posted: 37
Share Your Internet Connection & Get Paid
HoneyGain is compatible for desktop computers, Android and iOS and pays you when you share your internet connection!
Lolli: Earn Free Bitcoin When You Shop Online!
Lolli is a rewards application that gives you bitcoin for shopping at your favorite online stores.
Fold - Earn free bitcoin when you shop
Earn bitcoin cashback rewards when you shop at top retailers, including Amazon, Uber, Starbucks, Chipotle, and more. Download the app, sync your payment method and start earning bitcoin today!
CryptoTab Browser - Easy way for Bitcoin Mining | CryptoTab Browser
CryptoTab Browser is the world's first web browser with built-in mining features. Familiar Chrome user interface is perfectly combined with extremely fast mining speed. Mine and browse at the same time!
FREE Android & iOS App - Get Paid to Explore!
The COIN app is a revolutionary new app that pays you to explore the world! Download it today and start earning while you are on the go!
Store Bitcoin and a Earn Passive Income
Miny CC allows you to store your Bitcoin, Litecoin and Ethereum on their platform and pays you 10%-19% in monthly returns based on your stake.