Core banking services

Deliver excellent omnichannel customer experiences, optimize costs, and beat the fintech competition with Luxoft’s core banking services. 




Core banking solutions

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Enable growth, make your operations more efficient, and mitigate risks with Hogan, a core banking system created and maintained by our experts. 

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Improve scalability and benefit from a cloud-native architecture while de-risking your transformation with Luxoft, a certified Temenos integration partner. 

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Bespoke engineering

Take your operations to the next level with a bespoke solution tailored to your unique needs, developed by Luxoft’s seasoned engineers. 


Navigate the software-defined world with Luxoft’s core banking services


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. 


Core banking modernization benefits

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Optimized costs and improved operational efficiency

Automated processes, mitigated risks of human error, and streamlined workflows improve productivity, bring down costs, and optimize resource use. 

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Actionable data insights and powerful analytics

AI-powered data analytics provide real-time insights into the bank’s performance, power highly personalized customer experiences, and improve operational efficiency. 

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Facilitated compliance and risk management

Advanced data security, adherence to the latest KYC and AML standards, and comprehensive risk management facilitate compliance with ever-evolving regulatory requirements. 

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Enhanced agility and innovation

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. 

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Excellent digital customer experiences

Real-time transaction processing, personalized offerings and deals, timely notifications, and seamless omnichannel experience foster customer loyalty and boost satisfaction. 

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Increased scalability and flexibility

Modernized core banking architecture enables banks to scale their computing resources fast without a dip in performance, powering competitiveness and innovation. 

Luxoft’s banking services at a glance


of the TOP-10 US banks rely on Hogan


years of hands-on experience in banking services

$5 trillion

in deposits processed by Hogan annually


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How to avoid transformation traps in banking

Luxoft's experts weigh in. 


Our latest banking insights

Could your Hogan core system use a shot in the arm?


Could your Hogan core system use a shot in the arm?

When did you last upgrade  your Temenos system?


When did you last upgrade your Temenos system?

Check your banking system’s not rotten to the core


Check your banking system’s not rotten to the core





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: 

  • A centralized dashboard for bankers and clients 
  • KYC-compliant customer onboarding 
  • Multi-factor authentication 
  • Loan management 
  • Interest calculation 
  • Transaction management 
  • Push notifications 

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: 

  • Accounting. This component centralizes all data on the bank’s financial performance and operations and serves as the single source of truth for accounting software. 
  • Customer relationship management. This component gathers all customer data and powers customer service features like ticket resolution and communications. 
  • Operations. This component handles payment, lending, withdrawal, and deposit processing and management. 
  • Reporting. This component enables generating reports for compliance and decision-making, as well as gaining real-time insights into the bank’s performance. 
  • Risk management. This component aims to help the bank mitigate risks with AI-powered fraud detection, anti-money laundering, know-your-customer due diligence, credit assessment, and liquidity management. 

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: 

  • Identifying major issues early on. As the system sees an increase in transaction and data volumes, minor performance and scalability failings can cause downtime, undermine customer experience, and entail reputational and financial costs. 
  • Optimizing maintenance costs. During the check, experts can suggest concrete core banking modernization steps to reduce IT spending in the long run. 
  • Maximizing system performance. Pinpointing performance issues, as well as their solutions, will futureproof the system and optimize resource use. 
  • Receiving clear guidance in issue resolution. At the end of the check, the client receives detailed recommendations on fixing critical issues and mitigating potential ones.