The financial industry is experiencing a rapid digital transformation, and to compete in this race, banks are adopting modern core banking technologies.
They are moving their traditional core banking systems to the cloud to reap its benefits and speed up innovation. But, how to select an effective core banking system?
A reliable and good core banking software relies on composable architecture connected by APIs. An agile architecture that enables making quick changes to rapidly combine, build, deliver and scale products and services.
In this chapter four. We will take you through additional recommendations when choosing your next core banking system vendor. We will explain to you the importance of selecting a vendor that offers continuous deployment rather than periodic. And, we will discuss the importance of a single codebase approach when it comes to configuration.
As in previous chapters, you will also get access to the questions you need to include in your RFI process when monitoring potential vendors.
As a buyer, you need to make sure that your vendor delivers small changes every day, rather than big upgrades every six months that come with a lot of work. This means continuous deployment. This approach provides a continuous innovation of your system landscape.
Single codebase or multiple codebases
Custom code needs custom upgrades and custom maintenance. Whereas, a single codebase will save you time, and money. Pay attention what your vendor offers when it comes to codebases. As this might save you headaches.
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