Core Banking systems are the backbone on which the financial infrastructure of the world is built on. While not as visible as many other fintech systems, core banking nonetheless is central to banking services and is a mission critical software, with stringent performance and availability SLAs monitored by the central banks in most countries.

While core banking systems have been around for decades, the new-age realities brought on by digitization are rendering traditional core systems inadequate. Transactions are increasingly moving to the digital realm and banks find themselves looking at the mammoth task of processing thousands of transactions per second, particularly during seasonal spikes. Added to this, growing non-traditional competition is resetting customer experience benchmarks. Banks of all sizes are increasingly looking to cloud to overcome these challenges. With cloud, banks can personalize their services at scale as well as rapidly design, test and deliver engaging experiences to customers. However, legacy core systems hinder progress. To derive the full benefit of cloud computing, banks need a modern, digital, core – one that is built for the cloud.

Leverage Finacle’s cloud-native core banking solution on AWS Cloud to reap multiple benefits

Finacle’s cloud-native core banking solution can be deployed flexibly – on a private, public or hybrid cloud and helps banks maximize digital engagement, drive operational excellence and accelerate digital transformation. Amazon Web Services (AWS) provides financial institutions a secure, resilient, scalable global cloud infrastructure they need for futuristic growth. Together Finacle & AWS help banks scale their digital transformation by providing 4 key benefits: business agility, lower total cost of ownership (TCO), intelligent operations, and accelerated ecosystem innovation.

To learn more about how Finacle on AWS helps banks scale their digital transformation, read the full article here.