Gartner defines global retail core banking (GRCB) as a back‐office banking system that both processes daily transactions and posts updates to accounts and other financial records. Core banking systems (CBSs) typically include deposit, loan and credit processing capabilities with interfaces to general ledger systems and reporting tools. This Magic Quadrant assesses vendors on the multicurrency products they offer in support of the bank’s financial transaction management in the retail banking market.
"TCS Bancs helping us transform the Bank to do next generation Banking."
Our partnership with TCS as a company and TCS Bancs as a solution is exceptionally praiseworthy. TCS Bancs met most our business needs and helped us advance ourselves technologically to cater superior banking services. The functionality having superior features has helped us design better products and meet most customer demands whether its retail, Corporate, Trade & Treasury type different businesses. Our bank is on a digital transformation journey and we believe with TCS Bancs state of art futuristic architecture we shall be able to meet the customer-centric approaches having the right digital plans.
"Quick to get up and running"
Mambu are a great vendor to work with! They're extremely helpful during the deployment process and assist to creating work arounds. There are guaranteed to be a few things you find out that are missing unless you spend a year doing a PoC but there isn't anything you can't work around.
"FIS Core product review - Horizon"
It depends upon the application, because there are different versions of each application. I will say that the CORE product of Horizon - when it comes to Handling / Creating / Maintaining security rights and roles - the process is extremely tedious and needs to be addressed. Banks are required to review rights within applications annually - in order to create or modify a user group role - the process is very hard and doesn't always work like you wish it would. Ease of use within the applications other than security was mostly seamless.
"Convenience for smart technology and processes by introducing SAP Transaction Banking"
By introducing SAP Transaction Banking, it provides financial institutions with next-generation banking services and exceptional customer experiences. It enables smart transaction banking. It provides cost savings thanks to smart technology and processes.
"Difficulty come from the flexibility (big advantage), strong project/release management "
The overall experience with our AVALOQ solution is extremly positive. AVALOQ offer to us a complete and flexible solution to adapt our functionnal processes to our clients needs as well as regulatory constraints.
"Conversion Team/Programmers extremely knowledgeable; relationship managers are outstanding"
The conversion went extremely well in the very short period time we had to perform this project (3 months); JHA was with us every step of the way. The partnership, which dovetails with our corporate philosophy, continues to be strong, with mutual respect on both sides.
"Reliable banking product"
The product is very user friendly, reliable and very robust. product covers the entire company requirement within the suite and it can integrate any other channels with the latest open technologies. The data migration from the previous product was very easy since intellect had the migration tool and excellent knowledgable team. Implementation took a very short period (9 months) for the migration and production movement.
"Enhancement could be more user friendly"
One of its noticeable modules is the Oracle Financials Cloud. This is an all-inclusive, scalable, and integrated financial management system that offers a cutting-edge reporting solution built on an analytic data model. The module generates timely, accurate, and consistent data to support the external reporting and management.
"Core conversion was painful, but worth the time and effort to migrate from mainframe."
Like any conversion, a core conversion is always going to be painful and full of surprises, but with the expertise and support of both vendors, conversion went very well. Finastra implementation team very organized and thorough, but tech support is a bit weak and could use some improvements. Overall satisfied with vendor as a whole.