Upgrade your legacy systems with a secure, scalable, and future-ready platform
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About Core Banking System
If you’re modernizing your core banking system, there are a lot of variables to consider and challenges that lie ahead.
We’re here to help navigate these challenges with our years of experience. Vacuumlabs has partnered with core banking providers like Thought Machine to help modernize your bank with confidence.
With a new core banking system, a lot of the day-to-day stuff gets automated. This means fewer errors, faster service, and freeing up your team to focus on the big picture stuff that really makes a difference.
These modern systems are super flexible, making it easier to introduce fresh products and services quickly. In today’s fast-paced world, being able to adapt and innovate can really set a bank apart from the competition.
Upgrading to a modern core banking system lets banks offer a smoother and more personalized experience across all platforms, whether it’s on a mobile app, online, or face-to-face. It makes banking way more convenient for everyone, boosting customer happiness and loyalty.
Newer banking systems are built to handle the tough stuff like managing risks and staying on top of regulatory requirements. They’re great at spotting potential fraud and keeping everything secure, which is essential for keeping the trust of your customers and staying out of trouble.
At Vacuumlabs, we start by conducting a thorough assessment of your product portfolio and technical systems. This process helps us understand and identify which components are crucial to retain or modify, ensuring that your core banking implementation aligns with your strategic objectives.
Leveraging our frameworks and industry best practices, we tailor the application architecture to meet your specific requirements. This high-level architecture designing round ensures that the solution fits seamlessly into your existing infrastructure while enhancing functionality and scalability.
With a solid application architecture in place, our experts will recommend the necessary resources and outline a roadmap for successful project delivery. This approach ensures that every phase of the implementation is planned and executed to meet your timelines and business goals.
Capturing the infrastructure technical requirements based on your business needs through infrastructure workshops. This will include discussions regarding selected 3rd party vendors and regulatory requirements.
Yes, core banking is right for banks. It helps manage customer accounts, loans, deposits, and transactions across all branches in real time. It also supports online banking, ATMs, and mobile apps, making banking faster and more efficient for both staff and customers.
Core banking is also right for financial institutions like credit unions or microfinance providers. It helps track member accounts, handle payments, manage lending services, and provide secure access through digital platforms. This improves service delivery, data accuracy, and overall productivity.
A core banking system is the central software used by banks to manage accounts, transactions, and customer information.
The core banking system works by connecting branches, ATMs, and online banking to a central server. It processes deposits, withdrawals, loans, and other banking services in real time.
Case studies
Read about a selection of our past projects
Our team of experts will work closely with you to understand your goals and deliver a truly customized solution that meets your unique needs.
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