Traditional core banking solutions just don’t cut it. Many core banking vendors partner with multiple suppliers to enhance their legacy non-real-time processing systems. EMoney wallets, however (not card wallets), are at the other end of the scale and provide banks, consumers, and business customers with a truly digital experience.
Banks of the future cannot be successful if their business plans and go-to-market plans hinge around their core banking solution.
Digital banks must look beyond the tired core proprietary expensive to run and support, core banking platform.
The definition of core banking comes from “Centralized Online Real-time Exchange.” This does not spell
- Consumer app/wallet
- Merchant app/wallet
- Loyalty
- Stickiness
- Real-time transaction processing
