Internet banking has changed the way people used to bank and the way in which banks used to operate two decades back. With advancement of banking technology and extensive outreach of the internet, banks have become far more accessible and friendlier than what they used to be. Internet banking has also made banking flexible – there are no geographical barriers and most of the banking services are available round the clock.
A good banking solution makes banking easy for all kinds of customer segments: Retail, Corporate and SME customers. Apart from the generic features listed above, a good internet banking solution also provides comprehensive set of features teargeting each of these segments.
Future of internet banking solution
Banking technology is evolving by the day — what’s new today will become obsolete tomorrow. Therefore, creativity and innovation is the key to sustain in this competitive market. Some of the expected future trends for the internet banking solutions are:
- Omni-channel experience: Instead of thinking about channels, banks will think about giving customers an omni-channel experience that optimizes the customers journey.
- Creative offering: 30 years back when the first internet banking service was launched, no one could think that technology would revolutionize the banking industry at such a large scale. To stay on the top of their business, even now, banks will have to evolve with their learning experiences and offer their customers what has never been offered before.
- Intuitive, friendlier user interface: User interface, like today, will always be a make or break factor for the customers. With growing competition in the domain in the coming few years, user interface is one factor that will evolve a great deal to provide customers an effortless, seamless banking experience.
- Customizable internet banking solutions: “Customized” and “personalized” will be the two buzz words in the internet banking solutions world in the coming few years. With customers demanding more and more personalized banking experience, the need for customizable solutions will increase.
Big players in internet banking solution domain
Finacle Online Banking solution by EdgeVerve is currently one of the leading internet banking solutions. The solution is being used by approximately 195 banks in 65 countries.
FinCraftTM Internet Banking is another popular player in the market with an interface ready for almost all types of CBS prevalent in the banking space.
Other popular internet banking solutions are from Temenos Group AG, Strands, Fisa-System and Dais Software.
Author Bio: Ryan North is a Professional Blogger and Entrepreneur at Enterprise Edges. He has been into the Core Banking Softwares Reviews industry since 2001 and helped many companies establish their sales goals via content and brand campaigns.