Core Banking Solutions for Small Banks: A Global Perspective
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:
- Core Banking Solutions for Midsize Banks: A Global Perspective
- Core Banking Solutions for Large Banks: A Global Perspective
- Core Banking Solutions for Midsize and Large Banks: A North American Perspective
- Core Banking Solutions for Small Banks: A North American Perspective
- Big Leagues Table 2012: Global Core Banking Sales Ranking