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  • Writer's pictureTopCISO Bureau

Top Banking Software 2023 - TopCISO

Banking software has come a long way from the days of pen and paper ledgers. Today, banks rely on advanced technology to manage transactions, customer data, and more. With the rise of digital banking and fintech, the demand for robust and innovative banking software has never been higher.

Banking Software Evolution

Since the invention of computers, banks have been using them to simplify their operations. In the beginning, these systems were very basic and only allowed users to do simple tasks such as store customer information and calculate account balances.

However, over time banking software has become increasingly sophisticated as new technologies are implemented. For example, in the mid-90s, banks started using automated teller machines (ATMs) to allow customers to withdraw funds from their accounts. This was a major step forward as it made banking much more convenient and efficient.

Later on, online banking emerged which allowed customers to access their bank accounts and do transactions over the internet. This revolutionary development made banking even easier and more accessible than ever before.

Today, banks are using advanced technologies to provide customers with a wide range of services. Mobile banking apps allow customers to check their balances and make transfers on the go while blockchain technology is being used to improve security and reduce costs associated with making payments.

Banking software continues to evolve, and it’s likely that even more innovative technologies will be integrated into banking systems in the near future. As a result, customers can expect to receive better services and improved customer experiences. The market is also expected to benefit from the introduction of innovative technologies such as artificial intelligence (AI), blockchain, Internet-of-Things (IoT), and cloud computing. The digital banking market is estimated to be worth around $35 trillion in 2023.

Important factors considered by Banks when choosing a banking software:

1. Security: A banking software should be highly secure and reliable, allowing customers to trust their financial information with the bank. Banks should ensure that the software is up-to-date with security protocols and measures to protect customer data from cyber threats.

2. Efficiency: The banking software should be easy to use and have features that allow for rapid and efficient processing of financial transactions. The software should be able to make quick calculations, process large amounts of data, and generate reports in a timely manner.

3. Compatibility: Banks should consider if the software is compatible with existing systems, such as accounting or enterprise resource planning systems. This ensures that the banking software can integrate with existing systems and processes, reducing the time needed to implement new banking software.

4. Scalability: The banking software should be scalable enough to handle large volumes of data and transactions. Banks should also consider if the software is able to meet future needs and requirements as their customer base grows in size.

5. Customization: Many banks require specific features and functions for their banking software. This includes support for multiple currencies, automated processes, data analysis tools, and more. Banks should look for software that can be customized to meet the needs of their customers.

6. Cost: The cost of a banking software is always an important factor to consider when selecting one. Banks should compare the cost of different software packages, as well as the long-term costs associated with maintenance and updates. The cost should also take into account any additional features or customization that may be needed.

7. Support: Banks should look for banking software that comes with a reliable customer support team. This ensures that banks have access to professionals who can provide support and assistance when needed.

8. User Interface: Banks should also look for banking software that has a user-friendly interface. This allows customers to quickly and easily access their accounts, transfer funds, and perform other financial transactions without needing specialized training or technical knowledge.

9. Analytics & Reporting: The banking software should also have built-in analytics and reporting capabilities. This allows banks to analyze customer behavior, track trends, and generate reports in a timely manner. Banks should look for software that can provide real-time insights into their customers' financial activities.

10. Mobility: The banking software should offer mobile access for customers. This enables them to access their accounts from any device, anywhere in the world. Banks should look for software that provides a secure and reliable mobile experience for their customers.

By taking these factors into consideration, banks can find the right banking software that meets their needs and helps them provide better services to their customers. The right banking software will help banks streamline processes and ensure that their customers receive the highest quality banking experience.

Temenos is a banking software company that provides cloud-native, cloud-agnostic, and AI-driven banking solutions. With over 3,000 clients in more than 150 countries, Temenos is one of the largest and most respected players in the banking software space. Its flagship product, Temenos Infinity, is a digital banking platform that enables banks to deliver personalized, omnichannel experiences to their customers.

Finastra is a financial technology company that provides software solutions to banks, credit unions, and other financial institutions. Its products include core banking, lending, treasury, and capital markets software, as well as solutions for payments, regulatory compliance, and more. Finastra’s platform allows banks to access and build upon a range of APIs and microservices, enabling them to rapidly develop and deploy new applications and services.

Infosys Finacle is a subsidiary of Infosys, a global technology consulting and services company. Finacle provides a range of banking software solutions, including core banking, wealth management, and analytics software. Finacle’s digital banking platform enables banks to offer personalized, omnichannel experiences to their customers, while its blockchain solutions enable secure and transparent transactions.

Arttha by PureSoftware is an innovative banking software solution that provides omnichannel capabilities and a comprehensive range of digital banking services. Its modular architecture enables banks to easily customize the platform to meet their specific needs, while its innovative features, such as core banking, sme lending, loan management system, mobile payments and digital wallets, make it a compelling solution for banks and other financial institutions looking to provide personalized and seamless experiences to their customers.

NCR Corporation is a global technology company that provides software, hardware, and services for a range of industries, including banking. NCR’s banking software solutions include digital banking, branch automation, and ATM software, as well as fraud detection and prevention software. NCR’s digital banking platform enables banks to deliver seamless, personalized experiences to their customers across multiple channels.

Sopra Banking Software is a leading provider of software and services for the banking and financial services industry. Their solutions cover a wide range of banking activities, including digital banking, open banking, core banking solutions, and more. They offer cutting-edge technology solutions that help their clients optimize their operations and improve customer experience.

Oracle Financial Services is a subsidiary of Oracle Corporation, a leading provider of enterprise software solutions. Oracle Financial Services provides a range of banking software solutions, including core banking, lending, and payments software, as well as solutions for regulatory compliance and risk management. Oracle’s digital banking platform enables banks to deliver personalized, omnichannel experiences to their customers, while its AI-driven solutions help banks manage risk and compliance more effectively.

Banking software is essential for banks to deliver the services their customers demand in today’s digital age. These companies are leading the way in banking software innovation, offering solutions that enable banks to deliver personalized, seamless, and secure experiences to their customers. As the banking industry continues to evolve, we can expect these companies to remain at the forefront of innovation and technology. To find more banking software, please write to us at


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