Best Core Banking Software Solutions in 2025

Competition in the banking industry is intensifying as digital-first challengers chip away at market share from traditional banks. Forward-thinking banks are modernizing their core banking software to gain agility and deliver better customer experiences. In fact, the global market for core banking systems is booming – projected to grow from $12.51 billion in 2022 to $40.67 billion by 2029 (at an 18.3% CAGR)​. This growth reflects how critical core platforms are for banks’ digital transformation.

The good news is there are many core banking software solutions available, ranging from subscription-based cloud platforms to on-premise white-label banking software. Each offers different features and delivery models to suit various institutions. But with so many options, how do you choose the right one? In this article, we’ll break down what core banking software is, what makes a solution stand out, and provide an in-depth look at the best core banking software solutions in 2025 – with a handy comparison table and expert tips to guide your decision.

What is Core Banking Software?

Core banking software is the central technology that powers a bank’s most essential operations. It enables banks and credit unions to manage accounts, process transactions, and maintain customer records across multiple branches in real time. In traditional banking, core systems ran on mainframes or central servers handling deposit and withdrawal operations, loan processing, account management, and other daily banking services​.

Modern core banking solutions have evolved to support online and mobile banking, open APIs, and integrations that extend functionality beyond the branch.

In essence, the core banking system is the “engine” of a bank – processing everything from savings account interest calculations to mobile app fund transfers. A robust core platform provides a single source of truth for customer data and a backbone for all front-end channels. This allows customers to access their accounts from any branch or digital device, while the bank can ensure consistency and accuracy of information.

Why Modern Core Banking Systems Matter

Having the right core banking software is mission-critical for banks in the digital age. A modern core platform built with a flexible, composable architecture and rich API integrations enables banks to rapidly roll out new products and services​.

By decoupling core processing from digital channels, banks can update features without disrupting customers, ensuring a seamless experience. For example, adding a new mobile banking feature or integrating a third-party service is much easier with an API-driven core.

Legacy core systems, often decades old, can hold banks back with inflexible code and high maintenance costs. In contrast, next-generation cores emphasize scalability, real-time data, and modular components. This agility is why many leading digital banks did not build a core from scratch – instead, they partnered with fintech providers. Notably, Revolut, N26, Tandem, and O2 Banking all outsourced their core banking platforms to specialist fintech vendors​.

The result? They launched faster and can iterate quickly without being bogged down by legacy tech.

For any bank, large or small, upgrading to a modern core system can unlock significant benefits:

• Greater efficiency: Automation of routine transactions and back-office processes reduces manual work and errors, allowing staff to focus on customer service and growth. A strong core also eliminates redundant data silos, streamlining operations.
• Improved customer experience: Real-time processing and omni-channel access mean customers get up-to-the-minute account information and consistent service across mobile, web, and branches. Features like instant payments or digital account opening become possible.
• Rapid product innovation: An agile core with open APIs makes it easier to plug in fintech solutions (for payments, KYC, lending, etc.) and launch new offerings ahead of competitors. Banks can experiment and roll out updates with minimal downtime.
• Lower long-term costs: Cloud-based cores and subscription models can lower upfront expenses and provide regular updates, ensuring the bank always runs the latest technology without huge capital investments. Over time, maintenance and upgrade costs tend to be lower than with legacy in-house systems.

In short, choosing the right core banking software is a foundational decision that can determine a bank’s ability to compete in a fintech-driven future. Below, we provide expert insights on how to evaluate core banking solutions for your needs.

Expert Insights: How to Choose the Right Core Banking Software

Selecting a core banking platform is a complex decision. Here are key factors and questions to consider during your evaluation:

• Scalability and Performance: Can the system grow with your customer base and transaction volumes? Ensure the software can handle your projected growth for the next 5–10 years without major overhauls. A scalable cloud banking solution often provides on-demand capacity so you won’t outgrow it. Failing to plan for scale could lead to system slowdowns or outages as usage increases.
• Integration Capabilities: Does the core system play nicely with other technologies? Look for robust APIs and pre-built integrations. Your core should connect seamlessly with payment gateways, mobile apps, CRM systems, and regulatory reporting tools. Poor integration support could mean costly custom development and siloed data, disrupting operations​itexus.com.
• Security and Compliance: Does the software adhere to banking security standards and regulations? Security is paramount in any financial system. The platform should offer strong data encryption, role-based access controls, and support multi-factor authentication to protect against breaches. It must also meet industry regulations (e.g. PCI DSS, GDPR, and local banking laws) and include tools for fraud detection, anti-money laundering (AML), and know your customer (KYC) compliance.
• Vendor Support and Reliability: What level of support does the provider offer? Implementing core banking software is not a one-time task – it requires ongoing maintenance and support. Evaluate the vendor’s track record for uptime and responsiveness. Do they offer help 24/7 or dedicated account managers? Timely updates and bug fixes are crucial for smooth operations. Make sure the provider will be a reliable long-term partner with clear Service Level Agreements (SLAs).
• Total Cost of Ownership: What are the short- and long-term costs? Compare licensing or subscription fees, implementation fees, and the cost of any required hardware or cloud infrastructure. Remember to account for ongoing costs like support, upgrades, and potential extra modules. Sometimes a solution with a higher upfront price may be more cost-effective over time if it requires less maintenance or includes more features. (For a detailed breakdown of digital bank development costs, check out our guide on neo bank development cost.)

By carefully weighing these factors, banks and fintechs can identify which core banking software aligns best with their strategy, budget, and growth plans. Now, let’s dive into the top core banking software solutions on the market today.

Top Core Banking Software Solutions

Below we highlight the leading core banking platforms and providers in 2025. This list covers a mix of long-established industry leaders and innovative newer players. Itexus leads our list, followed by other top core banking software companies. For each, we’ll discuss what they offer and how they stand out.

1. Itexus

Itexus is a custom fintech software development company known for building tailored core banking systems, digital banking apps, payment platforms, and more. Founded in 2013 and headquartered in the United States, Itexus has delivered over 300 successful projects for banks, fintech startups, and financial institutions across 23 countries​.

The company specializes in end-to-end development – their team will work hand-in-hand with a client from initial concept and requirements gathering through to product launch and maintenance​.

What sets Itexus apart is its flexibility and customer-centric approach. Rather than offering a one-size-fits-all product, Itexus develops bespoke core banking software tailored to each client’s specific needs. Whether it’s a digital-only neobank core, a mobile banking app, or an integrated payment gateway, Itexus can build a secure, scalable solution from scratch. This makes Itexus an ideal partner for banks with unique requirements or fintech innovators launching new business models. Their commitment to quality and innovation has earned Itexus a 4.9/5 Clutch rating and a reputation for high client satisfaction​. By leveraging Itexus’s expertise, financial institutions can modernize their core systems or build new fintech products with confidence and agility.

2. Temenos

Temenos is one of the world’s top core banking software providers, with a long history of excellence. Founded in 1993 and based in Switzerland, Temenos serves over 3,000 financial institutions worldwide, including 41 of the top 50 banks​. Its flagship product, Temenos T24 Transact, is a comprehensive core banking system known for rich functionality across retail, corporate, and private banking. Temenos also offers Temenos Infinity, a digital front-office platform for customer engagement, and a suite of payments and wealth management modules.

Temenos’s core banking platform is praised for its flexibility and scalability. Banks can deploy it on-premises or in the cloud, and its modular architecture allows adding features as needed. With Temenos, banks manage everything from everyday transactions and account management to risk, treasury, and lending operations in one system. The platform’s high configurability means it can support conventional banking products as well as innovative fintech offerings. Temenos has consistently been recognized as a market leader because it enables banks to roll out new products quickly while maintaining robust security and compliance. Notably, Temenos’s software powers the accounts of over 500 million banking customers globally​– a testament to its reliability at scale.

3. Mambu

Mambu is a newer entrant (founded 2011) that has rapidly become a leading cloud-native core banking platform. Headquartered in Germany, Mambu pioneered a SaaS core banking model that appeals to digital banks, alternative lenders, and fintech startups looking for agility. In just a couple of years after launch, Mambu’s platform was adopted by 100+ microfinance organizations in 26 countries​.

Today, it services over 150 banks and fintechs worldwide, reaching more than 14 million end-users​. Notable Mambu clients include fintech innovators like N26, OakNorth, and Santander’s Openbank, which have leveraged Mambu to rapidly design and scale their digital-first banking services​.

Mambu’s appeal lies in its composable, API-first platform. Rather than a monolithic system, Mambu provides a core banking engine with a set of flexible modules (deposits, lending, payments, etc.) that clients can pick and choose. Its cloud banking platform allows institutions to launch new products in weeks, not months, by assembling components and integrating via APIs. This approach drastically cuts down the cost and complexity compared to traditional cores​.

Mambu also offers tools like the Mambu Process Orchestrator for workflow automation and integration. Financial institutions that want the speed and scalability of a modern fintech often turn to Mambu to transform their offerings. By offloading core infrastructure to Mambu’s SaaS, they can focus on customer innovation instead of running data centers.

4. Backbase

Backbase is known for its omnichannel digital banking platform that helps banks create seamless customer experiences. Founded in 2003 in the Netherlands, Backbase initially focused on improving the online banking interface and has since grown into a full digital banking suite. Over 80 banks globally use Backbase to place digital channels at the core of their strategy​.

High-profile clients include Barclays, Credit Suisse, Deutsche Bank, ING, and other major institutions that prioritize cutting-edge digital engagement​.

The Backbase Engagement Banking Platform is not a core banking system in the traditional sense (it doesn’t handle core ledger postings). Instead, it sits on top of a bank’s existing core and unifies the customer experience across web, mobile, and other channels. Backbase excels at things like customer onboarding, account opening, mobile app experiences, and marketing personalization. Banks often choose Backbase to modernize their front-end without replacing their underlying core. However, Backbase can also complement a core replacement project by ensuring a smooth user experience during and after the transition. With Backbase, banks are able to roll out new digital features faster and give customers a consistent, user-friendly interface whether they’re in a branch, on a smartphone, or using internet banking. In a digital-first era where user experience is king, Backbase has become a crucial part of many banks’ tech stacks.

5. Oracle FLEXCUBE

Oracle FLEXCUBE is a comprehensive core banking software platform from tech giant Oracle, designed to support global banking needs. Originally developed by i-flex solutions in 1997 (an Oracle acquisition), FLEXCUBE has a strong presence especially among large banks in emerging markets. It’s estimated that 600+ financial institutions across 140 countries use Oracle’s banking products, and roughly 10% of the world’s banked population has an account powered by Oracle FLEXCUBE​.

The system supports retail, corporate, and Islamic banking, with modules for consumer lending, mortgages, trade finance, treasury, and more.

As part of the Oracle suite, FLEXCUBE benefits from Oracle’s advanced technology in databases and middleware. The platform is highly interoperable and modular, meaning banks can implement it in phases and integrate it with other systems. Oracle has also infused machine learning and automation into FLEXCUBE to improve processes like risk management and fraud detection​.

For example, the system can provide analytics-driven insights or enable straight-through processing to reduce manual work. Oracle FLEXCUBE is often favored by banks looking for a proven, one-stop solution from a large vendor. It provides the assurance of Oracle’s support and a broad set of features that can be configured to the bank’s requirements.

6. Finacle (Infosys)

Finacle is a core banking platform developed by Infosys (through its product subsidiary EdgeVerve) and is one of the most widely deployed core systems globally. Launched in 1999 and headquartered in India, Finacle is used by banks in over 100 countries, serving an estimated 1 billion end customers worldwide​.

It’s particularly popular among retail and commercial banks in Asia, Africa, and the Middle East, though it also has clients in Europe and the Americas. A trusted partner to over 1,300 financial institutions, Finacle has helped many banks modernize their core systems​.

Finacle stands out for its broad functionality and modern architecture. The platform offers a range of solutions including core banking for retail and corporate, a digital engagement suite (for online/mobile banking), treasury and trade finance modules, and more. It’s designed with open APIs and a real-time processing engine, enabling banks to operate in a truly digital and agile manner​.

Finacle’s modular design lets banks implement components as needed and scale up easily as they grow. Many banks choose Finacle when replacing older legacy systems, as it provides a balance of a proven track record with up-to-date technology. Infosys also continually updates Finacle to keep pace with trends like blockchain, AI, and open banking. Overall, Finacle is seen as a robust, “future-ready” core platform that helps banks innovate and improve efficiency at the same time.

7. Finastra

Finastra is a major financial software company formed in 2017 by the merger of Misys and D+H. With headquarters in London, Finastra has one of the broadest portfolios of banking software solutions on the market. Its core banking offerings (such as Fusion Banking Essence and Fusion Phoenix) are used by banks of all sizes, and remarkably 90 of the world’s top 100 banks are Finastra customers across various products​.

Finastra’s solutions cover retail and corporate banking, lending, payments, treasury, and capital markets – essentially every facet of banking technology.

In the core banking arena, Finastra emphasizes flexibility and openness. Its systems can interface with legacy technology, helping banks gradually modernize without a risky “big bang” replacement. Finastra has also been a proponent of open APIs and was early in adopting cloud capabilities for its platforms​.

For banks, partnering with Finastra can mean access to an entire ecosystem of financial software under one roof, from core processing to digital channels to analytics. This one-stop approach is attractive for large institutions aiming for an integrated stack. At the same time, Finastra continues to innovate with initiatives like its FusionFabric.cloud open development platform, where banks and fintechs can collaborate on new apps. This keeps Finastra at the cutting edge of banking innovation while supporting the mission-critical needs of big banks.

8. FIS

FIS (Fidelity National Information Services) is a U.S.-based company that offers a wide range of banking and payment technology solutions, including several core banking systems. Founded in 1968 and headquartered in Florida, FIS is a Fortune 500 fintech giant with over 60,000 employees serving thousands of institutions worldwide​.

Many banks, especially in North America, rely on FIS for core processing – FIS’s core banking products include systems like FIS Profile, FIS Horizon, and IBS. These platforms support retail and commercial banking operations, card issuing, online banking, and more.

One strength of FIS is its end-to-end suite; beyond core banking, FIS provides services for payment processing, ATM networks, fraud management, securities operations, and so on. This means a bank could potentially use FIS as a single vendor for most of its technology needs. FIS has also invested heavily in modernizing its offerings, with cloud-enabled and real-time capabilities now part of its core systems. For instance, FIS’s newer core solutions aim to deliver the same agility and digital features that upstart fintech platforms provide, but backed by the depth and security of a long-established provider. Choosing FIS often appeals to banks that want a reliable, large partner with a deep understanding of banking operations – and who may prefer an incremental modernization of their core. With FIS, banks can adopt digital transformation at their own pace, leveraging FIS’s expertise in both legacy and cutting-edge systems.

9. Forbis

Forbis is a niche core banking software company that has been active since 1990, focused primarily on Central and Eastern Europe. Based in Lithuania (with presence in CEE/CIS markets), Forbis offers a platform called FORPOST – a cloud-based core banking SaaS solution covering account management, payments, deposits, currency exchange, and more​.

In addition to software, Forbis provides consulting and training services to help banks implement and optimize their core systems.

FORPOST is designed to help mid-sized banks and financial institutions digitalize their operations affordably. It supports multi-currency and multi-branch banking, and includes all the standard features needed for retail banking in its target regions. Forbis touts its experience in local regulatory requirements (especially in CIS countries) as an advantage for clients in those markets​.

However, it’s worth noting that Forbis is relatively smaller-scale compared to global vendors, and it remains to be seen how well its solutions adapt to other regions. Still, for banks operating in its home markets, Forbis is a proven partner. They can deliver a turnkey core banking solution that is pre-configured for local needs and comes with hands-on support. This allows regional banks to launch modern services without the cost of big-name systems that might be overkill for their size.

10. Securepaymentz

Securepaymentz is another specialized provider offering a core banking platform for digital financial services. The company provides a virtual banking system that includes common core features like money operations, account administration, and currency exchange​.

Securepaymentz differentiates itself by using a subscription-based model for its core banking software, rather than a large one-time license fee. This can make it an attractive option for new or smaller financial institutions that prefer an operating expense model. They also promise regular updates and the ability to easily add additional features for customers on higher-tier subscriptions​.

However, potential buyers should weigh the pros and cons of this approach. While the upfront cost is lower than a one-time purchase, ongoing subscription fees and reliance on Securepaymentz’s team for maintenance might lead to higher total costs in the long run​.

Additionally, customers are dependent on the vendor’s update schedule; larger banks might find this limiting if they require custom changes or immediate fixes. Securepaymentz is best suited for small banks, credit unions, or fintech startups that need a ready-to-go core banking platform with minimal IT infrastructure. It delivers flexibility and quick setup, but may not match the deep functionality of bigger systems for more complex banking operations.

11. nCino

nCino is a cloud-based banking software company founded in 2012, known for its Bank Operating System® that runs on the Salesforce platform. nCino initially gained fame by streamlining commercial loan origination and has since expanded to offer a full suite of digital banking solutions for community and regional banks. Their end-to-end platform covers business and retail lending, deposit account opening, treasury management, and more – all built as a layer on Salesforce CRM. By 2020, nCino was working with more than 1,200 financial institutions globally​, including banks, credit unions, and even some large international banks.

The appeal of nCino lies in its niche focus and cloud delivery. It was created “by bankers, for bankers” to address pain points in lending, such as excessive paperwork and slow approvals. Using nCino, a bank can manage the entire loan process digitally – from application and document collection to underwriting, decisioning, and closing – with far less friction. Over time, nCino added capabilities beyond lending, essentially becoming a core banking extension that can handle many banking workflows. It’s not always a full core replacement (often nCino integrates with an existing core), but some smaller institutions use nCino as the central hub for operations. The platform leverages the reliability and security of Salesforce’s cloud, meaning banks get world-class cloud infrastructure and can tap into Salesforce’s broader ecosystem (for analytics, integrations, etc.). nCino is a great example of a modern fintech solution that started in a specific domain (commercial lending) and evolved into a broad banking system through customer-driven innovation.

12. Novatti

Novatti is a fintech company specializing in digital banking and payment solutions. Headquartered in Australia with 20+ years in the industry, Novatti’s mission is “to pay and be paid” – in other words, enabling fast, seamless transactions for businesses and consumers. Novatti’s platform includes modules for online payments, billing, cross-border transfers, and even issuing payment cards. In 58 countries, organizations use Novatti’s technology to power branchless banking services, payment processing, and financial inclusion initiatives​.

One of Novatti’s notable offerings is its card issuing solutions. As a Visa Principal Partner and issuer, Novatti helps fintech businesses launch their own branded prepaid or debit cards (both physical and virtual)​.

This is integrated into their core platform, so clients can manage card programs alongside other banking services. Novatti’s flexibility has made it a go-to choice for a variety of use cases – for example, a charity managing digital wallets for donations, or a fintech startup launching a mobile wallet with payment card capabilities. Essentially, Novatti provides the underlying infrastructure for payments and banking so that organizations can focus on their customer proposition. In the context of core banking, Novatti can serve as the transaction engine for digital banks or payment companies that don’t want to build these systems in-house. It’s a key player especially in the Asia-Pacific fintech scene, driving cashless payment innovations and partnerships (for instance, supporting branchless banking programs and agency banking in developing markets​).

Core Banking Software Comparison Table

For a quick overview, the table below compares key facts about several top core banking solutions:

Note: Employee counts are approximate. “Offices” indicates the number of global office locations.

Conclusion

The core banking software landscape in 2025 offers a wide variety of solutions. From cloud-native SaaS platforms to customizable on-premise systems, banks have more flexibility than ever to find a core that fits their strategy. Ultimately, the “best” core banking software depends on the specific needs, budget, and long-term goals of your financial institution. Factors like bank size, target customer segments, and existing technology stack will influence the ideal choice.

One key takeaway is that modern core banking systems are enabling even smaller players to launch digital banking products quickly and affordably. You no longer need a massive IT department to run a bank – many providers offer ready-made neobank software and pre-integrated fintech features that significantly reduce time-to-market​. The trade-off is ensuring the chosen solution can scale and adapt as your business grows.

If you’re considering a core banking upgrade or building a new fintech product, remember that you don’t have to go it alone. Partnering with experienced fintech development firms like Itexus can accelerate your project and bring valuable expertise. Itexus offers pre-built fintech modules and custom development services, making it possible to get your banking product to market faster and with fewer hurdles. Instead of reinventing the wheel, you can leverage proven frameworks and extensive API libraries to jumpstart your core banking functionality.

Ready to transform your banking platform? Contact Itexus for a free consultation, or explore our blog for more insights on digital banking transformation. With the right core banking software – and the right partner – you can deliver next-generation banking experiences and secure your place in the future of finance.

FAQ

What is core banking software and why is it important?
Core banking software is the back-end system that handles daily banking transactions (deposits, withdrawals, payments, loans) and updates account records across all a bank’s branches and digital channels. It’s important because it is essentially the heart of a bank’s IT ecosystem – if the core system is efficient and real-time, the bank can offer better service and innovate faster. A modern core banking system enables banks to provide 24/7 services like mobile banking, ensures accurate data for customer accounts, and allows the bank to integrate new products easily. In short, the core banking platform directly impacts a bank’s operational efficiency and customer satisfaction.

What are the top core banking software companies?
Some of the leading core banking software providers include Temenos, Mambu, Backbase, Oracle (FLEXCUBE), Finacle, Finastra, FIS, and newer cloud-native players like Thought Machine. Each has its strengths – for example, Temenos and Finacle are known for extensive functionality used by large banks, while Mambu and Thought Machine offer modern SaaS platforms popular with digital banks. Additionally, solution providers like Itexus offer custom core banking development for institutions that want a tailored system. The best choice depends on your organization’s specific needs and whether you prefer a ready-made product or a custom-built solution.

How do I decide between a SaaS core banking platform and a custom solution?
SaaS (software-as-a-service) core banking platforms (like Mambu or Oracle’s cloud offerings) provide pre-built functionality and faster deployment. They are a good choice if your requirements align well with what the platform provides and you want a proven solution with lower maintenance effort (the vendor handles updates/infrastructure). Custom solutions, on the other hand, are built to your exact specifications – ideal if you have unique products or processes that off-the-shelf software can’t support. Custom builds can provide competitive differentiation but may take longer to develop and require more investment. Many banks evaluate hybrid approaches too, such as customizing on top of a basic core platform or using a modular core that allows custom extensions. Engaging an experienced fintech developer (like Itexus) to assess your needs can help determine the right approach.

How long does it take to implement a new core banking system?
Implementation timelines can vary widely. A simple cloud-based core for a digital bank might be deployed in a few months, whereas replacing a legacy core at a large traditional bank can take 1–2 years or more (including planning, data migration, and thorough testing). Factors affecting timeline include the complexity of migrating existing data and products, the degree of customization, regulatory approvals, and staff training. Banks often use a phased rollout (gradually moving products or regions to the new core) to minimize risk. Working with seasoned implementation partners and doing comprehensive testing are crucial to a smooth and timely core system go-live.

Can core banking software help with compliance and security?
Yes, modern core banking solutions have built-in features to aid compliance and security. They often include audit logs, user access controls, and modules for AML (Anti-Money Laundering), fraud detection, and regulatory reporting. For example, a core system can automatically flag suspicious transactions or ensure customer data handling complies with privacy laws. By centralizing data, a core platform also makes it easier to generate accurate reports for regulators. However, banks must still configure these tools correctly and stay updated on compliance rules. On the security side, reputable core platforms support data encryption (at rest and in transit), regular security patches, and thorough testing to prevent vulnerabilities. A secure, compliant core banking system – combined with strong internal policies and monitoring – is vital to protect sensitive financial data and maintain customer trust.

By adminko