NAVIGATING THE FUTURE OF BANKING: CHOOSE YOUR CORE BANKING PLATFORM WISELY

In the modern age, banking institutions have resorted to technology to manage their most critical processes, such as customer account management, transactions, risk management, and reporting. Most banks use Core Banking Systems as their primary platform for such operations. Others also go for in-house development of their own systems. However, in the face of advancing technology, both options suppress the application of fintech and Universal Banking, ultimately hindering banking institutions from harnessing the full power of Open Banking.