Software Used by Different Banks: List of the software that various banks will use in 2024 for banking operations in India and the USA. There are a lot of public sector, private Sector and foreign banks in India. These banks use different software packages for core banking. Here in this article, we have mentioned the most popular banking software packages used in India. Here we are providing you the latest software used by banks in India. The full list is given below.
Software Used By Different Banks:
In India, there are mainly three core banking softwares used by public sector banks. They are:
- Flexcube
- BaNCS
- Finacle
List Of Softwares Banks Use : Finacle
Infosys created Finacle, a very well-liked core banking software package. Here is a list of Indian Banks that use Finacle Software Packages.
- Andhra Bank
- Axis Bank
- Bank of Baroda
- Bank of India
- Corporation Bank
- Dena Bank
- Federal Bank
- ICICI Bank
- IDBI Bank
- Indian Overseas Bank
- India Post Payments Bank
- IndusInd Bank
- Karnataka Bank
- Kotak Mahindra Bank
- Oriental Bank of Commerce
- Punjab & Sind Bank
- Punjab National Bank
- RBL Bank
- South Indian Bank
- UCO Bank
- United Bank of India
- Union Bank of India
- Vijaya Bank
Key Features of Finacle :
- Application management, development and maintenance
- Customer-centric testing services
- Data migration with secured engineering services
- Iterative services for tuning application services
- Corrective maintenance & incident management
Software Used By Different Banks : BaNCS:
Tata Consultancy Services is the creator of this core banking solution. This is a very popular core banking platform across the world. Over 280 institutions in more than 80 countries use BaNCS. RBI Registered Loan App List : Check All Loan Apps List.
Here is a list of banks that use BaNCS Software Packages.
- State Bank of India & its six Associate banks (now only SBI)
- Allahabad Bank
- Bank of Maharastra
- Central Bank of India
- Indian Bank
- IDFC Bank
Key Features Of BaNCS :
- Centralized multi-currency and multi-entity payments
- Consolidated treasury management platform
- Proactive AML risk mitigation
- FATCA compliance
- Trade matching with registry functions and collateral management
- OPEX optimization for cloud scalability
Flexcube:
Oracle Corporation is the creator of Flex Cube. This software package is used by some of the reputed Bank of the world, like City Bank. Here is the list of Indian bank that use Flex cube Software Packages.
- Canara Bank
- Karur Vysya Bank
- Lakshmi Vilas Bank
- Syndicate Bank
- Yes Bank
- HDFC Bank
Key Features Of This Flexcube :
- Centralized data processing
- Replacement and changing of products based on marketing trends
- Globalized services
- Machine learning technology for generating insights
- Standardizing the system of secured payments
- Component-based banking architecture
