Data analysis gives powerful insight. It can help improve customer service, identify consumer activity patterns, and exploit market opportunities. It provides better understanding of the relationships between disparate pieces of data and can offer direction to banking strategy. And with the right platform, you can perform successful integrations and access powerful data analysis.
An Introduction to Banking Software Integration
Banking software integration is the process banks and credit unions undergo to move data out of transaction processing systems – often core banking systems that have little business reporting capability – into a format that can be used by business end users. This action provides users with greater insight into the data and enables them to perform more in-depth analysis to extract the greatest value.
Successful software applications will do more than just extract all types of data, they will also transform the data during integration to provide additional value.
The ability to integrate core banking and general ledger data into one single source is invaluable for financial institutions so it's worth ensuring you have the right integration capabilities.
We've outlined seven of our key integrations, focusing on the benefits they provide and how they contribute to success.
1. Temenos T24
Temenos T24 is one of the top core banking systems throughout the private banking sector. After nearly 25 years providing software for financial institutions – the last 15 as a best-selling solution – Temenos boasts considerable experience and a broad range of system integration and consulting partners throughout the financial sector.
Temenos combines rich functionality with cutting-edge technology to provide customers an open and integrated platform, it allows for simple integration using their common reporting base features.
Why Temenos T24?
Temenos is the leader in its market. In 2016, Temenos topped both the IBS Intelligence league table and the Forrester pyramid in sales of mission critical software for the banking and finance industry.
2. Misys FusionBanking Equation
Misys is a software company that caters for financial institutions throughout retail banking, lending, treasury, capital markets, investment management and enterprise risk. As a solution used by 48 of the world’s 50 largest banks, Misys has become a constant presence throughout the financial software environment.
Misys FusionBanking Equation is one of the longest standing financial solutions. Complemented by modern and componentised architecture, it enables users to increase business agility, enhance strategic growth, and support core banking operations.
Why Misys FusionBanking Equation?
Misys FusionBanking Equation is one of the most popular core banking systems available, and has been continually proven in some of the world’s toughest banking environments. Misys FusionBanking Equation has an unparalleled ability to address industry requirements at both a global and local level.
Mambu is the space-age kid on the block. As a platform that is built from the cloud upwards, the SaaS engine is a powerful alternative to the costs and complexity of traditional core banking systems or custom in-house solutions.
In addition to its unique cloud approach, what differentiates Mambu from other banking systems is that it provides users with custom-built tools to build, integrate, launch and service any lending portfolio into any financial market.
Mambu offers a different flavour solution to that of traditional banking systems. Its basis in the cloud provides simplicity and scalability at a fraction of the cost of traditional core banking systems.
4. Fiserv Financial Accounting Suite (FAS)
Fiserv is a global leader in financial services technology solutions. Designed for forward-thinking financial institutions, Fiserv is heavily technology-centric and uses a breadth of developed infrastructure to deliver functionality and flexibility across a range of platforms.
Fiserv FAS is a full enterprise-wide banking solution. With a strong focus on delivering a high-quality, unified customer experience across a wide-range of channels, FAS is a general ledger system that provides financial accounting capabilities.
Why Fiserv FAS?
With its versatile FAS software, Fiserv has the capacity to cater for financial institutions ranging from community banks up to large, multinationals, including non-traditional banking organisations.
5. OnApproach M360 Enterprise
OnApproach began life as a data consulting company in 2005, before transitioning to become a financial software company specialising in credit unions in 2014. Now, with a focus on providing high-value analysis, OnApproach has grown to provide a full data warehouse platform for credit unions.
With a fundamental focus on data and analytics, OnApproach M360 Enterprise's data warehouse enables credit unions to integrate their data into a single source. This enables employees at all levels of an organisation to use information and analytics to increase financial performance.
Why OnApproach M360 Enterprise?
OnApproach M360 Enterprise provides credit unions with the means to transform their data into actionable goals. By combining M360 Enterprise with the CU Analytics Platform, users can leverage the data of a network of interconnected credit unions to generate greater insight and analysis.
6. Infor SunSystems Financial Accounting Software
Infor SunSystems is a global enterprise financial management system. Delivering real-time financial, operational accounting, its comprehensive management system focuses on adaptability.
Infor SunSystems Financial Accounting Software is marketed as a financial platform with the depth to adapt to any market. With the ability to deliver financial management in over 190 countries, it has a near unparalleled global reach.
Why Infor SunSystems?
Infor SunSystems Financial Accounting Software is a general ledger system that combines technological innovation and usability with a depth of functionality achieved through decades of practical application. With its ability to deliver comprehensive financial, operational, and reporting analysis at a competitive cost, it has gained renown as a critical tool for global institutions.
7. Sysde SAF
Founded in Costa Rica, Sysde is a company that leveraged its extensive knowledge of Latin American banking systems to grow and diversify into other financial markets across the globe. With experience throughout the Caribbean, Europe, and Africa, Sysde offers a wide portfolio of products and services for global institutions.
Sysde SAF is a core banking system that has been developed over a period of 20 years. Operating as a flexible and modular transactional system, Sysde SAF makes it possible to process banking operations seamlessly.
Why Sysde SAF?
Sysde SAF has a track record of offering global financial institutions the ability to benefit from a versatile and innovative service. With comprehensive, robust and developed technological solutions, Sysde has become recognised for its sustainability.
The Importance of Data Analysis
In the modern era, financial institutions around the world are being confronted with the challenge of extracting the greatest value from their data and getting the most out of their banking system. Often, data analysis is the lifeline that keeps major banks and credit unions afloat in a rising tide of information and, to generate maximum advantage, it's essential they unite their data in a high-value banking application.
To discover for yourself how business intelligence and analytics can provide value for your financial institution and enrich your banking data experience, download our guide to financial and banking performance.