Global fintech company Sopra Banking Software (SBS) has announced the launch of its next-gen, modular, real-time, fully cloud-native AI-enabled core banking platform in Software-as-a-Service (SaaS). The fully redeveloped cloud-native platform is believed to mark a milestone for SBS’ large customer base, unlocking the potential of both cloud technologies and artificial intelligence (AI).

Sopra Banking Software’s core banking platform Per the press release information, designed to support the most comprehensive range of banking services available, the SBP Core Platform boasts key domains, including deposits, payments, lending, compliance, and regulatory reporting. It integrates with SBS’ Digital Engagement Platform in a simplified manner, delivering a cost-effective and quick time-to-market solution for banks looking for a full end-to-end banking platform (front-to-back). Additionally, it helps offer an improved experience for customers and employees alike, enabling them to focus on efficiency and productivity.

What is more, the SBP Core Platform is provided as a SaaS solution and comes with a completely pre-configured Model Bank, helping customers adopt the solution in an expedited manner and benefit from increasingly lower TCO (Total Cost of Ownership). From its inception, the platform’s underlying architecture was designed to offer a cloud-native development and runtime environment tailored to address the specific needs of the financial services industry, enabling advanced SaaS operations characterised by increased availability and security. Following years of investments and a successful 18-month beta launch, the new version of the SBP Core Platform is now available to all Sopra Banking Software customers.

Due to its open architecture, high scalability, and integrated AI capabilities, the platform is believed to be a ‘game changer’ for banks. Company representatives stated that as it is delivered in SaaS, it provides cost efficiency, increased levels of security, and seamless product updates, helping ensure that customers can access the company’s latest innovations free of lengthy mitigation projects. More to this point, Sora Banking Software spokespersons said that several years back, the company pioneered the introduction of a component-based core banking platform, and currently, it aims to be at the forefront of integrating AI into essential banking systems.

Per their statement, this is no longer a vision for the future, but a current reality, and they are looking to make it accessible to everyone through significant and ongoing investments in the years to come. More about Sopra Banking Software A global financial technology company, Sopra Banking Software looks to help banks and the financial services industry reimagine how to operate in an increasingly digital world. Its cloud platform provides clients with a composable architecture to digitise operations, ranging from banking, lending, compliance, to payments, and consumer and asset finance.

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