Core Banking Solutions for Small Banks: A Global Perspective

by Bart Narter,  Stephen Greer, March 7, 2012
Vendor Reviews
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

Core banking is the central processing unit of a bank. Banks, with the help of software vendors, have found the opportunity to leverage multiple channels in order to deliver products and facilitate transactions. What was once a system heavily reliant on paper-based operations has now been revolutionized by digital alternatives, bringing a new wave of automation. Efficiency and increased productivity are the standards. Branch networks are increasingly able to utilize the cohesive properties of new core systems.

In a new report, Core Banking Solutions for Small Banks:A Global Perspective, Celent compares a range of solutions that have a sizable presence with small global banks, specifically solutions with more than 80% of their customer base having less than $1 billion in assets. In this report, Celent covers solutions where more than 10% of the banks are located in regions other than North America. Celent has created a map of core banking vendors and then ranked these vendors using its ABCD Vendor View. XCelent Awards are given to the leading solutions within four categories.

“Increasing preference for hosted implementations is something we’re seeing with smaller FIs,” says Bart Narter, Celent Senior Vice President and coauthor of the report. “As telecom infrastructures develop, smaller banks are more often looking to the cost-cutting upside of running a platform in a centralized hosted environment, rather than a costly on-site implementation. The high ROI is a driving incentive for this shift.”

This is one report in a series on core banking. Other reports include:

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

3

ABCD Analysis and XCelent Awards

7

 

The XCelent Awards

9

Vendors

18

3i Infotech—Kastle Core Banking

19

Cobiscorp—COBIS

23

DataVision—DataMate

27

Infosys—Finacle

31

Infrasoft Technologies—OMNIEnterprise

37

Misys—BankFusion Equation

43

Misys: BankFusion Midas

46

Nucleus Software—FinnOne

49

Path Solutions—iMAL

54

SunGard--Ambit Retail Core Banking

58

Tata Consultancy Services--TCS BaNCS

62

Temenos—T24

68

Top Systems—TOPAZ Banking

73

Summary

77

Leveraging Celent’s Expertise

79

 

Support for Financial Institutions

79

 

Support for Vendors

79

Related Celent Research

80

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