By Delisha Fernandes
May 29, 2023
- AI
- Banking
- Banking Solutions
Banking has witnessed significant growth as a business in the last few decades, undergoing a transformative journey from its traditional role of admitting deposits and granting loans. It has grown into a business which provides a wide array of goods and services to cater to diverse customer needs.
Core Banking has grown beyond serving retail customers to incorporate the requirements of corporate clients as well. According to Fortune Business Insights: The global core banking software market size was valued at $12.51 billion in 2022 & is projected to grow from $14.54 billion in 2023 to $47.37 billion by 2030.
This expansion has resulted in a comprehensive banking solution that serves a broad range of customers. These solutions play a crucial role in delivering an error-free and seamless banking experience by ensuring consistency and coherence.
Let’s look at the four Core banking platforms accelerating digitisation in USA:
Fiserv is a provider of core banking solutions that are transforming the financial sector in the USA. With its advanced tech and extensive suite of services, Fiserv allows banks to streamline operations, improve customer experiences, and drive digital transformation. The platform uses artificial intelligence and machine learning to deliver customised financial services, robust security measures, and real-time analytics.
Jack Henry & Associates is a core banking platform provider in the USA, serving financial institutions of all sizes. With a focus on scalability and innovation, Jack Henry’s platform equips banks with the tools required to deliver modern banking experiences. Their extensive solutions include core processing, lending, digital banking, payments, and risk management.
Oracle Financial Services offers a robust core banking solution that enables banks in the USA to navigate the digital era effectively. Leveraging Oracle’s expertise in finance and technology, their platform combines extensive banking functionality with advanced automation and analytics capabilities. This allows banks to enhance customer experiences, drive innovation and optimise operations.
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