Introduction

In last two decades, banking and finance industry has evolved

technologically. Banks have deployed technology-intensive
solutions in all areas of governance, operations, and control. With
growing dependency of the banking and finance industry on
technology, there has been a surge in the number of companies
that provide specialized services and software for the industry.
Many reputed and old companies have recently ventured in to the
core banking software domain.
There has also been a great increase in the number of new
companies which exclusively cater to the banking software
domain. If you are a banker, the good news for you is that you
have unlimited software platforms options to choose from and
depending on your need you can get customized solutions as well.
The year 2016 has been an awesome year so far for the banking
and finance as it witnessed the release and upgradation of several
good core banking software. Lets take a look at the top 5 core-

Infosys Finacle
Finacle is a popular core bank software developed by Infosys, an
Indian company which is a global leader in technology services
and consulting.
In August 2015, Finacle became part of
EdgeVerve Systems Limited, a wholly-owned subsidiary of Infosys
which develops innovative software products and offers them on
premise or as cloud-hosted business platforms. Finacle is,
currently, used by banks across 94 countries that have a
cumulative customer base of about 848 million.

Infosys Finacle
Finacle is a comprehensive, integrated, multi-lingual, web-based
modular software solution that addresses a number of bankingrelated technological requirements such as core-banking, online
banking, mobile banking, payments, treasury, origination, liquidity
management and wealth management. It also helps in customer
relationship management (CRM) and business data analytics.
Finacle has been identified by Forrester, an independent
technology and market research company, as a long-term leader
in
the
industry
for
providing
comprehensive
banking
functionalities.
The business benefits of using Finacle are:
Differentiated and unique customer experience.
Greater process efficiency.
Increased productivity of frontline staff.
Reduced processing time and data redundancy.
Easy account access.
Comprehensive view of customers across solutions.
Quick adaptability to changing environment.

Oracle Financial Services Software

Oracle Financial Services Software Limited, a subsidiary of Oracle
Corporation, is another leading software solution provider in the
banking and finance industry. The companys offerings include
customized solutions for retail banking, investment banking,
corporate banking, cash management, trade, treasury, payments,
private wealth management, asset management, and business
analytics. Oracle Financial Services Software Limited has clients in
145 out of the total 196 countries in the world.

Oracle Financial Services Software

Oracle FLEXCUBE, the flagship core-banking solution by the
company, is a comprehensive, integrated, and modular solution
that helps banks manage intense competition, reduced margins,
and increased customer expectations by supporting agile and
business processes management using Business Process
Execution Language (BPEL), service-oriented architecture (SOA),
and a Web services-based model. A highly customizable solution,
Oracle FLEXCUBE also enables integration of their-party solutions.
The business benefits of using Oracle FLEXCUBE are:
Increased up-selling and cross-selling.
Increased flexibility and interoperability.

VirtusaPolaris
Polaris Consulting & Services (Polaris), now known as
VirtusaPolaris after its merger with Virtusa Corporation, is another
India-based leading technology player in the banking and financial
services industry. In its 25 years of existence, Polaris has seen the
transformation of the technological landscape of the banking and
finance industry. One of Polaris earliest project was the
implementation of the end-to-end Retail banking solution for
CitiBank India. Since then, Polaris has come a long way.

VirtusaPolaris
Polaris Intellect Core Banking Solution is a widely popular corebanking solution used by several private and public banks across
the world. Polaris Intellect Core Banking Solution ranks high on
customer centricity and operational flexibility.
The business benefits of using Polaris Intellect Core Banking
Solution are:
Accelerated the time-to-market.
Enhanced customer experience.
Operational flexibility.

Fiserv
Fiserv is a leading financial services technology company with
approximately 13,000 clients worldwide. It has been popular in the
banking and finance industry because of its award-winning
solutions for mobile and online banking, payments, risk
management, data analytics and core account processing. With
core- banking solutions Cleartouch, DNATM, Precision,
Premier and Signature Fiserv can offer a suite of solutions to
meet the needs of small or big, domestic or international banks.

Fiserv
With easy to use solutions and user-friendly interface, Fiserv is
quite a hit in the banking domain. Its mature service-oriented
architecture (SOA) makes it easy for the customers to integrate
the Fiserv product portfolio and third-party systems to create a
customized solution exclusively for their needs.
The business benefits of using Fiserv Core-banking Solutions are:
Business agility.
Intuitive, effective tools that increase employee satisfaction.

IDEALINVENT
IDEALINVENT is a leading Indian technology products and
solutions company with a focus on the consumer financial services
sector. Established in 2005, IDEALINVENT has emerged as a leader
in the domain in a very short span of time. ConnectCoreTM is a
popular core-banking software developed by IDEALINVENT. It
allows the clients to choose their own infrastructure platform and
work with licensed as well as open source application servers,
databases and browsers.

IDEALINVENT
ConnectCoreTM allows customization all the way to the database
object level. The unique selling point for ConnectCore has been
its ability to extend beyond making the business offerings
accessible to the back office system, and arranging them on all
servicing channels in a user-friendly manner. Any newly created
business offerings can also be seamlessly provided to the client
already using the software by integrated channel solutions
through their published API catalogues.
The business benefits of using ConnectCoreTM are:
Complete customization of the interface for bank-specific
workflows, processes and user profiles.
Single intuitive user interface that makes work process simpler
and shorter.
Comprehensive view of the customers across all touch points.
Faster employee learning cycles.

Conclusion
Apart from the 5 core-banking software mentioned above, the
other 5 core-banking software that managed to set a name for
themselves in the banking and finance industry in 2016 so far are
TCS Bancs from TCS Financial Solutions, T24 core banking system
from Temenos, Avaloq Banking Suite from Avaloq, Core-banking
solutions from FIS and Silverlake Axis Integrated Banking Solution
from Silverlake Axis.