Core banking services
Deliver excellent omnichannel customer experiences, optimize costs, and beat the fintech competition with Luxoft’s core banking services.
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Deliver excellent omnichannel customer experiences, optimize costs, and beat the fintech competition with Luxoft’s core banking services.
Enable growth, make your operations more efficient, and mitigate risks with Hogan, a core banking system created and maintained by our experts.
Improve scalability and benefit from a cloud-native architecture while de-risking your transformation with Luxoft, a certified Temenos integration partner.
Take your operations to the next level with a bespoke solution tailored to your unique needs, developed by Luxoft’s seasoned engineers.
Ace digital challenges and beat the competition with state-of-the-art core banking software and Luxoft’s advanced integration, configuration, and management expertise.
Thanks to our deep understanding of banks’ operations and unique challenges in the digital era, we pinpoint and implement the solutions that enable our clients to achieve their goals with technology.
Whether you’re looking to modernize your core banking system, develop a bespoke core banking solution, or assess the existing system’s health, our skills and expertise are at your service.
Automated processes, mitigated risks of human error, and streamlined workflows improve productivity, bring down costs, and optimize resource use.
AI-powered data analytics provide real-time insights into the bank’s performance, power highly personalized customer experiences, and improve operational efficiency.
Advanced data security, adherence to the latest KYC and AML standards, and comprehensive risk management facilitate compliance with ever-evolving regulatory requirements.
Appropriate and modern tech stacks speed up time to market for new products and features, allowing banks to adapt to rapidly shifting customer trends and remain competitive.
Real-time transaction processing, personalized offerings and deals, timely notifications, and seamless omnichannel experience foster customer loyalty and boost satisfaction.
Modernized core banking architecture enables banks to scale their computing resources fast without a dip in performance, powering competitiveness and innovation.
Core banking is the back-end system powering the bank’s operations, such as transactions, wire transfers, loans, payments, mortgages, and deposits, all in real time. A core banking system can be installed on-premises (i.e., on local servers) or hosted in the cloud.
Core banking solutions typically include the following features:
Core banking software lets banks deliver a seamless customer experience, allowing them to get the same services regardless of location or touchpoint. It also serves as the single source of truth for customer data.
For example, when the customer uses an ATM to withdraw money, the ATM will request data from the core banking system to verify they have enough funds in their account. The system will then process the request and approve the operation.
A core banking solution typically consists of the following five components:
Progressive modernization is one approach to replacing the core banking solution with an up-to-date alternative. As the name suggests, it means progressively modernizing systems by reinventing customer journeys one by one as a part of your strategy.
In progressive modernization, the new customer journeys determine the business logic behind the new applications. The development team builds them iteratively using the microservices architecture. The new software gradually replaces the corresponding modules in the existing system.
As opposed to the big-bang approach (i.e., replacing major monolithic components in one stroke once per several years), progressive modernization enables gradual change in the system. This allows for better risk mitigation and optimized modernization costs.
Compared to the greenfield approach, where a new digital bank solution operates in parallel with the legacy stack, progressive modernization avoids double spending and compatibility issues.
A core banking system health check is a consulting service that entails a comprehensive system analysis. This process aims to reveal if there are any significant issues with it and how to solve them.
Here are four ways an organization can benefit from a health check:
