Our Top Picks

Avaloq
Avaloq
  • Deployment: Web-based, cloud, SaaS, iPhone/iPad, Android
  • Customer service: 24/7 (live rep)
  • Types of banking: Online, private, retail, multi-branch

Avaloq core banking software supports the most popular types of banking. The system consists of more than 70 modules and features for mobile services, online banking, back-office functions, legal compliance requirements, and other essential roles. Some in-demand features include securities management, compliance tracking, credit card management, risk management, and transaction monitoring. Though standardized, Avaloq software boasts customizable features for versatility and uncommon requirements.

A digital platform and business rule engine are dedicated to compliance functions. There is a lengthy list of the supported regulations. Avaloq uses new tech tools to help predict trends and regulatory development to help financial institutions stay ahead of the curve.

Pros & Cons

Pros

  • Includes risk management services
  • Incorporates global fintech connectivity and collaboration

Cons

  • No ATM management services

Summary

  • Starting Price
    • Custom Quote
  • Free Trial/Demo
    Free Demo
  • Deployment
    Web-Based, Cloud, SaaS
    iPhone / iPad
    Android
  • Support Options
    24/7 (Live Rep)
  • Online Banking
    yes
  • Transaction Monitoring
    yes
Features
  • Deployment: Web-based, cloud, SaaS, iPhone/iPad, Android
  • Customer service: 24/7 (live rep)
  • Types of banking: Online, private, retail, multi-branch
Ebanq
Ebanq
  • Deployment: Web-based, cloud, SaaS, iPhone/iPad, Android
  • Customer service: Online, phone during business hours
  • Types of banking: Mobile, online, retail, private, corporate

Multiple administrator accounts can be set up in the Ebanq banking software system, providing more flexibility with software management and banking function oversight. Categorize banking clients as needed. Configure transaction fees and include cryptocurrencies if desired. Compliance tracking, investment banking and transaction monitoring are among Ebanq’s core banking features. Its reports can export system data to external software applications. Plus, integrations through API are available. The system has credit card management features and provides debit card funding functionality. The mobile banking services are provided as an out-of-box solution. Customization is possible, allowing you to apply your company’s branding.

Pros & Cons

Pros

  • Supports 28 currencies
  • Sets up in 24 hours
  • Lets clients use proprietary banking apps with the system

Cons

  • No securities management feature
  • No around-the-clock live support

Summary

  • Starting Price
    • Custom Quote
  • Free Trial/Demo
    Free Demo
  • Deployment
    Web-Based, Cloud, SaaS
    iPhone / iPad
    Android
  • Support Options
    Business Hours
    Online
  • Online Banking
    yes
  • Transaction Monitoring
    yes
Features
  • Deployment: Web-based, cloud, SaaS, iPhone/iPad, Android
  • Customer service: Online, phone during business hours
  • Types of banking: Mobile, online, retail, private, corporate
Mambu
Mambu
  • Deployment: Web-based, cloud, SaaS
  • Customer service: 24/7 (live rep)
  • Types of banking: Multi-branch, online, private, retail

Mambu is a cloud-based SaaS banking solution. The software delivers core back-end banking functions. It uses APIs to allow financial institutions to connect with other software for a wider range of banking functions. This composable banking approach lets you customize your banking software. Mambu partners with many different vendors. You choose the components you need for your unique banking requirements.

Mambu’s software applies banking-level security standards and observes industry regulations. The company works with system integrators, business consultants, and technology professionals in fintech, IT consulting, banking, and other sectors to support integrations, reporting functions, and other desired banking functions.  

Pros & Cons

Pros

  • Highly adaptable composable banking system
  • API integration with numerous apps and software solutions
  • 100% cloud native platform

Cons

  • No mobile deployment for iPhone or Android
  • No credit card management
  • Transaction monitoring not included

Summary

  • Starting Price
    • Custom Quote
  • Free Trial/Demo
    Free Demo
  • Deployment
    Web-Based, Cloud, SaaS
  • Support Options
    24/7 (Live Rep)
  • Online Banking
    yes
  • Transaction Monitoring
    no
Features
  • Deployment: Web-based, cloud, SaaS
  • Customer service: 24/7 (live rep)
  • Types of banking: Multi-branch, online, private, retail
Temenos Transact
Temenos Transact
  • Deployment: Windows, web-based, cloud, SaaS
  • Customer service: 24/7 (live rep)
  • Types of banking: Retail, private, online, corporate, treasuries

Temenos Transact banking software addresses both front-office and back-end functionality. Open APIs support expansion and more customer solutions. Plus, the Temenos Infinity analytics feature focuses on customer behavior. The core banking system ensures compliance with regulations and industry standards. Temenos banking software continues to change and evolve with technological advancements, and regular releases add more functionality and upgrades via online installation.

Temenos includes transaction monitoring, securities management, and reporting and analytics functions. It also offers its own suite of payment processing software and delivers fund management and wealth management features. Users can download the system to their Windows computers or use the cloud-based system.  

Pros & Cons

Pros

  • Windows installation available
  • Supports corporate banking and treasury operations

Cons

  • No credit card management feature

Summary

Temenos Transact
Temenos Transact
  • Starting Price
    • Custom Quote
  • Free Trial/Demo
    Free Demo
  • Deployment
    Installed - Windows
    Web-Based, Cloud, SaaS
  • Support Options
    24/7 (Live Rep)
  • Online Banking
    yes
  • Transaction Monitoring
    yes
Features
  • Deployment: Windows, web-based, cloud, SaaS
  • Customer service: 24/7 (live rep)
  • Types of banking: Retail, private, online, corporate, treasuries
Turnkey Lender
Turnkey Lender
  • Deployment: Windows, web-based, cloud, SaaS, iPhone/iPad, Android
  • Customer service: 24/7 (live rep), online, phone during business hours
  • Types of banking: Retail, private, online, multi-branch

TurnKey Lender launched in 2014 as an alternative lending solution. It also developed software to support all aspects of the lending process through automation This includes core banking software solutions that manage the basic features financial institutions seek for operation. These include transaction monitoring, compliance tracking, credit card management, securities management, ATM management, and risk management.

Additionally, TurnKey Lender provides services for loan origination and servicing, debt collection, and residential loans and mortgages. Third-party integrations enhance the loan service functionality. Its partners include Stripe, PayPal, Experian, QuickBooks, and Google Analytics. You can access reports on customer data, credit risk, loan information, and other performance metrics.

Pros & Cons

Pros

  • Free trial offer
  • Includes ATM management

Cons

  • Reporting functionality focuses more on lending than core banking functions

Summary

Turnkey Lender
Turnkey Lender
  • Starting Price
    • Custom Quote
  • Free Trial/Demo
    14-Day Free Trial
    Free Demo
  • Deployment
    Installed - Windows
    Web-Based, Cloud, SaaS
    iPhone / iPad
    Android
  • Support Options
    24/7 (Live Rep)
    Business Hours
    Online
  • Online Banking
    yes
  • Transaction Monitoring
    yes
Features
  • Deployment: Windows, web-based, cloud, SaaS, iPhone/iPad, Android
  • Customer service: 24/7 (live rep), online, phone during business hours
  • Types of banking: Retail, private, online, multi-branch

How We Chose the Best Banking Systems Software

Understanding your choices in banking software systems can be overwhelming. We evaluated these companies on the types of banking they support, banking features they provide, and reporting functions.

Types of Banking

With so many differing financial institutions, it’s important to match banking software with the organization. Preferably, it should work with private banking and retail banking. With today’s massive and still-growing use of the internet and mobile devices, support for online banking is also a must. Corporate and enterprise banking is a plus for some.

Banking Features

At a minimum, your core banking software should manage transactions, handle deposits and withdrawals, and calculate interest. Other important features to look for are credit card management, securities management, payments processing, loans management and disbursal, and accounts management. Some banking software systems don’t cover all of these features directly. However, they support software integrations with other providers that meet these criteria.

Reports

Versatile report functions measure business performance and the efficiency of the banking software system. Functionality, customization, analytics, export options, and automation are a few of the key characteristics to consider.