Core banking modernization is crucial to keep pace with a fast-evolving market. However, there is considerable operational risk involved due to the transformation complexity and the potential disruption of day-to-day operations. A core banking system is a back-end system that processes banking transactions across the various branches of a bank. It includes deposit, loan, and credit processing. These systems perform mission-critical operations and constitute the backbone of the bank’s IT infrastructure. As such, the company was looking to modernize its core banking system (CBS). Founders of the credit union viewed core replacements as a necessity that can no longer be ignored. They wanted to make banking processes more convenient for existing and potential customers.
Team set up for PTIO
Head of PMO
Stakeholder ( Dev Team )
Our team incrementally transformed the existing CBS. We conducted an in-depth analysis of current infrastructure, market dynamics, customer needs, and organizational capabilities to improve back-office efficiency. The modernized core banking system can handle a high volume of transactions without interruption. Architecture and functionality enhancement enabled this financial institution to significantly reduce operational costs and address the increasingly demanding needs of customers. Transactions are now safer, faster, and less cumbersome.
- Go Language
- Spring Framework
- React Native
Core banking software solution for a financial institution and bank in Ecuador The ability to grow business and provide better service products.
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