Core Banking Solutions for Small Banks: A Global Perspective

by Bart Narter, October 28, 2009
Vendor Reviews
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

Core banking is the central processing unit of a bank. Banks, with the help of software vendors, have found the opportunity to leverage Internet technology to handle transactions.

Most of the paper-based transactions of yesteryear have been replaced by digital alternatives. Automation has brought a mantra of efficiency and increased productivity. Core banking systems run 24/7 to support banking operations and transactions using Internet banking, ATM, phone, and debit cards. In the report, Core Banking Solutions for Small Banks: A Global Perspective, Celent compares the range of solutions available to small banks around the world. Celent has created a map of core banking vendors catering to small banks around the world. Celent then ranks these vendors on its ABCD analysis.


"Unlike the small banks in North America, small banks around the world prefer on-premise implementation over a hosted model," says Rajesh M R, Celent analyst and coauthor of the report. "A lack of developed, reliable communication networks, and concerns over data security have led banks to have their own infrastructures."

"These global players didn’t design their systems around batch processing of checks, so real time functionality has been designed in from the start," adds Bart Narter, Senior Vice President of Celent's Banking Group and coauthor of the report.

This report is the third in a series on core banking. Subsequent reports will include Core Banking Solutions for Midsize Banks: A Global Perspective and Core Banking Solutions for Large Banks: A Global Perspective.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

ABCD Analysis

6

Vendors

12

 

3i Infotech – Kastle Core Banking

12

 

Datavision -- DataMate

15

 

Infrasoft Technologies – OMNIEnterprise

18

 

Nucleus Software – FinnOne

23

 

Top Systems – TOPAZ Banking

27

Summary

30

Leveraging Celent’s Expertise

31

 

Support for Financial Institutions

31

 

Support for Vendors

31

Related Celent Research

32

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