Core banking transformation refers to the replacement, upgrade, or outsourcing of a bank’s core banking systems, which are an integrated suite of software applications for processing the bank’s operations and transactions. Core Banking Solutions now focus on the convergence of digital channels, which will allow the bank to scale up faster and also be flexible. They achieve real-time channel processing and multi-channel integration capabilities.
For success in Core Banking Transformation, the banks have to consider, apart from technical architecture, also the elements of people, culture, change management, evolving regulatory environment, disruptive and unconventional new banks, and ever-tightening margins. Given these pressures, the bank needs support from a partner with a proven record of strategical excellence and passionate about delivery and should be trustworthy.
Finonyx is driven by the success of its customers. Finonyx consulting team is proficient in all the fundamental operational areas of the bank like Accounts, Deposits, Lending, Cards, Treasury, Branch and Digital channels. Experience in this field has given Finonyx a deep domain knowledge, Oracle FLEXCUBE expertise and an array of best practices which is applied to its clients’ business challenges. This experience also has enabled Finonyx to have unique accelerators, productivity tools. Finonyx has acquired a hands-on risk management through its multiple transformation experiences. Together with the client, Finonyx can ensure that the Core Banking Transformation is entirely positive.