The surge in digitization paved the way for robust core banking technology that is expected to grow globally at a CAGR of 14.6% from 2020 to 2027 and reach $28,785.85 million by 2027.
Core banking kickstarted digital transformation in traditional banks and helped new-age banks speed up the next-gen customer experience. API-led core banking architectures enable banks to scale reliable and strong banking ecosystems with frictionless, rapid integrations.
We pave way for this revolution globally!
Turing is a core banking system that offers a wide range of services to strike a balance between providing high-quality services and cost optimization. By leveraging contemporary technologies like AI, ML, and data analytics, Turing assists banks in growing their tailored offers without dramatically expanding the number of product variants.
Digital Core will have a robust API management framework to start open banking to effectively monetize open APIs.
Leverage modern technologies, use of AI, ML, data, and analysis for hyper-personalization, enhanced customer experience.
Leverage low code capabilities to reduce complexity in meeting evolving customer expectations and regulatory compliance.
Modular/microservices architecture via API helps developers to enrich functionalities without downtime. Highly customizable and parameterized attributes to transition from a product-centric to a customer-centric model. Expand personalized offerings without radically increasing the product variants.
Unity Bank replaced its core banking system with M2P Fintechs' Turing CBS, covering 111 branches serving over 15 lakh customers. The full CBS implementation was finished in 88 days without a single parallel run, setting a first-of-its-kind record, and all branches were migrated to the new CBS on the same day. Unity Bank was awarded the ‘Fastest core banking implementation award’ at Elets BFSI Tech Innovation Awards 2023 for the implementation.
Core banking is on the rise!
We participated in the 17th India Digital Summit 2023 organized by IAMAI and Abhishek Arun, President of Platform Strategy & Commercialisation, M2P Fintech moderated the panel discussion 'Building a Symbiotic Relationship between Banking and Fintech'.
We participated in the power talk session organized by the Tamil Nadu Apex Skill Development Centre – BFSI in association with the Hindustan Chamber of Commerce. Bharat Srinivasarangan, SVP – Products & Technology, M2P Fintech, spoke about the topic 'Challenges and opportunities in the Fintech Industry in 2023'.
SaaSBoomi, a close-knit community of B2B SaaS founders from India, featured our Co-Founder, Prabhu Rangarajan, in its podcast series, Founder's Deep Dive, in conversation with Kissflow's founder, Suresh Sambandam. Prabhu spoke on the topic 'Building the AWS of fintech that can last a 100 years’. Listen here.
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