In Search of an Advanced Core Banking System? If you’re on the lookout for a comprehensive Core Banking system that accelerates technological implementation and facilitates market entry, consider the following criteria:
A Robust Back Office for Future Opportunities
Ensure your core banking system goes beyond basic operations to accommodate diverse business and regulatory needs. It should offer flexibility beyond standard tasks, allowing you to modify parameters, workflows, and other elements swiftly. Operational adaptability is key for handling routine changes, such as adjusting client risk profiles and modifying commission fees. Opting for a simplistic system might hinder future operations and lead to regulatory challenges.
Integration Capabilities for a Diverse Product Portfolio
Seamless integration with payment services, AML/KYC verification, various payment options, card issuance, and currency exchange is crucial. Integration with service providers through APIs streamlines processes and reduces time and costs through pre-existing integrations. Advapay enables you to customize your Core Banking system with desired services and offers existing integrations with service providers.
White-label Web and Mobile Banking Apps for Efficiency
Customer access to web and mobile banking applications is essential for smooth transactions. Prioritize an exceptional end-user experience by providing users with excellent visibility, an intuitive interface, and an aesthetically pleasing design. Choosing pre-existing applications integrated with a core banking backend can save time and reduce expenses.
BaaS and Embedded Finance for Rapid Fintech Launch
Leverage emerging trends like BaaS and Embedded Finance, especially Embedded Payments, for seamless access to banking and payment services through APIs. Benefit from various BaaS partners by streamlining the selection process and saving valuable time through pre-built integrations.
Enhanced Back-Office Application Interface for Efficient Operations
Ensure the back-office application interface is updated with a modern design and a comprehensive set of functions. This interface should facilitate seamless operations management, allowing employees to efficiently handle tasks related to applications, transactions, customers, financial operations, and more.
Core Banking Tailored for Startups: Budget-Friendly Solutions
For small businesses or startup founders seeking cost-effective core banking software, our offerings are designed with you in mind. Here’s why:
- Firstly, we provide a SaaS package at a reasonable monthly fee, enabling you to enhance your solutions with additional functionalities using a pay-as-you-go model.
- Secondly, our pricing is transparent, free from hidden fees. Once we agree on specific functionality and sign the contract, there are no additional costs.
We understand the significance of budgets for businesses, especially startups and SMEs. Our software is confidently budget-friendly for startups.
Secure Solutions Aligned with Regulations
A secure solution tailored to meet regulatory requirements is essential. Regular system updates, incorporating the latest security features and protocols, are a priority for us.
The system allows the establishment of groups, rules, and roles, creating custom processes. This empowers operators of digital banks and fintech companies to establish distinct customer risk groups with specific rules for each group. Workflows for higher-risk customer categories can be defined, enabling efficient oversight, validation, approval of transactions, and management of compliance processes, eliminating regulatory compliance concerns.
Additionally, our solution offers pre-integrated compliance, fraud monitoring, prevention, KYC, and KYB services to safeguard customer data, prevent fraud, and ensure secure authentication for each transaction or Internet banking entry.
Built-In Accounting System for Comprehensive Financial Operations Management
Our core banking software includes a built-in accounting system for managing financial operations. The general ledger and accounting system, a fundamental component, enable fintechs to accurately record, track, and manage financial transactions, offering a comprehensive view of the digital bank’s financial health. This integrated accounting system simplifies financial operations, ensuring compliance with regulatory requirements.
Through our built-in general ledger and accounting system, you can record all financial transactions of your digital bank or fintech company, including accounts, deposits, withdrawals, and transfers. The module facilitates the generation of detailed reports customized to business and regulatory needs, aiding in cash flow forecasting. The recorded data can be used with your accountant to plan for long-term success accurately. Additionally, the module efficiently manages your fintech company’s nostro and vostro accounts, supporting reconciliation and accounting for funds in correspondent accounts. It also assists in consolidation and reporting related to account data, allowing seamless execution of multi-currency operations and effective management of the client accounting system.
Versatile Deployment and Purchase Options – SaaS, Software License, and Source Codes
Examine a spectrum of deployment and payment options meticulously tailored to the unique requirements of diverse businesses.
SaaS (Software as a Service):
Ideal for fintech startups with constrained budgets, the SaaS option offers basic functionality for a swift business launch. This package includes pre-made integrations with a convenient monthly fee. As the fintech startup expands and necessitates additional integrations or features, the solution seamlessly upgrades to align with evolving business needs. Moreover, there’s a provision to transition from the SaaS model to a Software License.
Core Banking Software License:
Tailored for established businesses, the software license solution is integrated into the company’s infrastructure and can be customized to meet specific operational and business requirements. Suited for companies with distinct technical solution needs, it allows for additional integrations as requested. This option caters well to large enterprises and those with extensive business plans. The model involves a one-time setup fee and a monthly maintenance fee based on the Service Level Agreement (SLA), making it suitable for companies lacking internal IT resources or preferring external support.
Additionally, there is an opportunity to elevate the solution further by acquiring the source codes. This empowers the handling of all developments internally, offering limitless possibilities and unparalleled independence for enhancing the solution.
Core Banking Source Codes
Advapay extends the option to procure software source codes for maximum flexibility and independence. This choice facilitates complete customization to meet current and future business requirements. Companies opting for source codes can internally manage the software with their IT team, taking charge of storage, maintenance, and security-related activities. This option also allows for the development of new modules, integrations, and back or front-end customization. However, it’s essential to note that the software cannot be copied or sold externally.
Typically, this option is favored by large enterprises with well-defined business plans and substantial IT teams. Choosing this avenue enables them to bypass the time-consuming process of developing core banking software internally, providing a ready-to-use solution with a proven track record spanning many years.
