Banking Software

What Is Banking Software?

The banking industry provides monetary services to its customers. The repertoire of services of the banking industry includes -

• Receipt and holding of customers' money in different types of bank accounts.
• Payment of cheques and debit transactions of customers.
• Provision of financing and loans.
• Management of trade finance, foreign exchange, corporate banking, treasury services, and wealth management.
• Dealing in a wide array of financial products such as credit cards, equity trading accounts, etc.

Banking software applications are enterprise software applications implemented in the banking industry. They include IT services and products that support banking functions across many verticals.

Verticals in the Banking Software Industry

The banking industry undertakes a range of activities. The key segments of the industry are -

Corporate Banking

It is an essential component of banking. Under this segment, banks provide services to firms and companies of varying sizes. Banks provide deposit accounts, current accounts, and loan products. They also offer trade finance solutions and treasury and cash management services.

Wealth Management

It involves the provision of personalized financial services, such as retail banking services, financial planning, investment management, and estate planning. The bank aims at income generation and wealth creation for the customer.

Retail Banking

Retail banking or consumer banking incorporates banking services provided to the general public. It includes provision of accounts for deposit of money, offering loans and other banking products such as credit cards and debit cards to the common man.

Our Solution Offerings

NCrypted has the capability to provide a complete suite of banking applications as per different customer needs in the banking sector. Our team can collaborate with clients to provide cutting-edge technology solutions for the key functions of the banking processes.

Account Management

The software has features for the transfer of cash across currencies and through different modes of payment. The company can configure payment methods, payees and currencies. Alerts and notifications can be set up for low balance, payment reminders, etc. You can obtain an aggregated view of all accounts in different countries and the balance in each of them. This will give you visibility into your overall finances and you can manage cash better.

Wealth Management

Banks have people to manage relationships with clients and understand their financial needs and goals. Our technology solution will empower them to suggest and implement optimized investment plans and other financial solutions. Some of the features of our banking software are -

• Availability of a platform for your customers to view and manage all accounts and investments in one place.
• Incorporation of a portal for trading across a variety of investment instruments.
• Individual portfolio tailoring is monitored in terms of product suitability, appropriateness, and other business limits.
• Portfolio management in terms of portfolio tailoring as per customers’ needs, their financial situation and market conditions. Your customer can have a close view of investment duration, returns, comparison of returns against benchmarks, overall profit/loss scenario, etc.
• Utilize various data points of client’s financial situation, transactional behaviour, market conditions, and risk profile and provide analytics features to build suitable investment models for clients.

Lending Solutions

Lending is a core activity for banks. We have experts in this domain who will work with your SMEs to design and develop lending modules as per your business process. The solution will cater to the workflows for loan application and approval, templates for loan documentation, and algorithms for the loan decision process. It will also provide for loan agreement process and amount disbursal. Our banking software will integrate with third party applications to get information on customer credit score, interest rate factors and registration of collateral for the loan.

Mobile Banking Products

Banks have to operate their business 24x7. It is imperative to have a banking solution that is easily accessible and works across devices. We can build a solution that will work seamlessly on desktops, laptops, mobile phones, and other handheld devices. We can develop app-based solutions so that banks can provide digitized services to all their customers at all times. The app will facilitate -

• Payment through different methods such as Paypal and Google Wallet.
• Creation and sending of invoices to clients
• A Comprehensive view of all accounts of the company
• Tracking of accounts payable and payment for the same

Benefits Of Banking Software

An overarching banking application that takes care of all your business process needs will provide many benefits -

• New ways of doing business requires new ways of managing banking processes. Reliable banking software will help you manage change and at the same time keep the bank on track to achieve its targets.
• The growth in Big Data has impelled banks to improve modeling and predictive accuracy which can be facilitated by banking software. Technology solutions will help you go through massive amounts of data and uncover trends, and get a better insight into your business practices and customer financial data and behaviour.
• Well-designed banking solutions will store enormous amounts of data in a cost-effective way in a way that data is secure but at the same time allow easy authorized access.

NCrypted has deep knowledge of banking processes and expertise in implementing banking technology solutions. With our solution, you can be assured of providing the best digital services to your customers.