As David Brear and the 11Fs team say in their latest fintech blog post “Core banking might not be the sexiest of subjects, but if you don’t get it right, your bank will suffer financially and lose its edge to the truly digital competitors coming your way”.
In early February we presented at Finovate2017 to show financial institutions that a modern core banking platform, although unsexy to some, is absolutely necessary to the future of any bank. In fact, without one, a bank cannot deliver anything cool or sexy. This is because all banks rely on the core to enable it to do anything.
Meaning a modern core is a pretty integral part of any forward-thinking bank.
To demonstrate a core banking platform in 7 mins is literally impossible. What we try to get across in our demo, is that amazing customer experiences are only made possible if the bank is built on a modern SOA (Service Orientated Architecture) banking platform.
If the core remains old and clunky, then don’t expect any improvement in a bank’s customer experience. This is why banking is so bad today. But it doesn’t have to be this way.
What we demo at Finovate is only a fraction of the features and services a bank can offer their customers using our platform. In fact, as we like to say to anyone looking to launch the bank of the future; ‘we have the platform, all it needs is your vision’.