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Best Banking Software in 2024

What is banking software?

Banking software applications are relied upon by the banking industry for managing financial products and services. Customers use bank account software for completing online transactions, managing investments, insurance and other financial activities. Read Buyer’s Guideimg

Top 5 Banking Software in 2024

  • top product arrowFincap
  • top product arrowFinMate Gold
  • top product arrowOracle Flexcube
  • top product arrowTemenos
  • top product arrowFinacle

Best Banking Software

(Showing 1 - 10 of 21 products)

Most PopularNewest FirstTop Rated Products


Brand: Systrans Technology Pvt Ltd.


4.4 out of 5

(0 user reviews)

Take your financial game to new heights with Fincap Banking Software.... Read More About Fincap read review arrow


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FinMate Gold

FinMate Gold



4.3 out of 5

(0 user reviews)

... Read More About FinMate Gold img


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Oracle Flexcube

Oracle Flexcube

Brand: Oracle

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Oracle FLEXCUBE is a banking solution which helps banks meet real-time, online operational requirements. It helps in modernizing a bank’s core system to... Read More About Oracle Flexcube img

Price On Request



Brand: Temenos


4.4 out of 5

(5 user reviews)

Temenos is an all-in-one Banking Software designed to serve Startups, SMBs, SMEs and Agencies. This Web-Based Banking Software has a simple interface and i... Read More About Temenos img

Price On Request




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Finacle is a complete Financial Management Software designed to serve Startups, SMBs, SMEs and Agencies. This Financial Management Software for Web-Based h... Read More About Finacle img

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Banking Software Product List Top Banner - 1
Banking Software Product List Top Banner - 2
Kencloud Suite

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Brand: TCS

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TCS BaNCS is a complete Financial Management Software designed to serve Startups, SMBs, SMEs and Agencies. This Financial Management Software for Web-Based... Read More About TCS BaNCS img

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Delfi Core Banking

Delfi Core Banking

Brand: Delfi Coretech Solutions Pvt Ltd


4.7 out of 5

(0 user reviews)

Defli Core Banking Software empowers financial institutions with comprehensive account management, seamless transaction processing, and real-time analytics... Read More About Delfi Core Banking read review arrow


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Brand: Fortune InfoServeIndia Pvt Ltd


4.4 out of 5

(0 user reviews)

finRize is a robust banking solution that will help streamline all your financial operations effortlessly.... Read More About finRize read review arrow


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Last Updated on : 25 May, 2024

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Best Banking Software FAQ’s

Software questions,

Banking software is used for organising workflows and managing transactional activities of the banking industry. The best Indian bank software companies are: Amplify (New Delhi) Datavision Software Solutions (Pune) Processware Systems (Bangalore) Maximus Infoware (Mumbai) SMERGERS (Bangalore) SMC Capitals (Delhi) VSoft Technologies (Hyderabad)

Some of the best available banking accounting systems in India are: Infosys Finacle BaNCS by TCS Flexcube by Oracle Nidhi Banking Software Mini Banking Software Service Urban and Service Cooperative Banking Software

On average banking software solutions' license for up to ten banks would cost Rs 22,77,901. The cost may increase further depending upon implementation, migration, team's and bank's size.

SBI selected TCS BaNCS as the banking system for supporting its centralised information technology. 

Almost all banks today offer their supporting application to clients, customers and account holders. Once your account is created, the bank would send you a notification for downloading the banking software. Once downloaded, you would be asked to fill in account, personal and authentication details for access to full banking software's service. After completion of basic formalities, you are now free to access the banking application for online accounting, payments, investments, insurance, shopping, debit/credit card payments, ATM services, etc. 

Bank reconciliation software in tally can be done by following the given steps. Go to banking reconfiguration and select Gateway of Tally. From here select the bank for reconciliation and click on the bank statement. Multiple options would appear such as total entries, number of reconciled transactions and additional bank entries. Select any of these options for reconciliation and your job is done.

Banking Software Price List In India

Banking Software Cost
Top Banking Software Starting Price Rating
Fincap₹45000.00 4.4
FinMate Gold₹20000.00 4.3
Delfi Core Banking₹150000.00 4.7
finRize₹3000.00 4.4

Buyer's Guide for Top Banking Software

Found our list of Banking Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!

  • What Does Banking Software Mean?
  • Why Do Banks Need Banking Software?
  • Key Features Of Banking Software Solutions
  • What Are The Benefits Of Core Banking Software?
  • Banking Software Modules and Integrations
  • How to Choose the Best Software for Banking Services?
  • Top 10 Banking Software Companies
  • 10 Best Software for Banking Sector

What Does Banking Software Mean?

Banking software is enterprise software used in the banking industry for managing financial products and providing services. It serves as a means of communication between a bank and its customers. The software improves workflow inside the company and its branches to meet users' needs.

Why Do Banks Need Banking Software?

Banking as a service and business sector has grown tremendously in the past few years. From typical loan and deposit functions, the banking industry has moved on to cover a range of activities: from introducing new financial products to loans/accounts/transactions management and customer onboarding.

Customers use banking software to access internet banking for completing online transactions, managing investments, insurance, and other financial activities. On the other hand, banks gain from the software's superior CRM capabilities, back office operations, onboarding, secured performance, credit evaluation, and loan origination.

Commercial and retail banks use the core banking software to record and manage transactions made by their customers.

Key Features Of Banking Software Solutions

  • Multi Platform Access: Banking systems provide multi-platform services to customers and can be operated easily through mobile applications or portals.
  • Bank account management: Monitor cards, check balance amount, analyse bank accounts, transfer money and view transaction history with core banking software.
  • AI chatbot support: Banking software companies have created chatbots to provide their clients and customers with the best customer support service. These chatbots are not just polite and customer friendly but also capable enough to be used in core banking services to answer several customers.
  • Secure sign-in: Digital banking software functions with safe and secure sign-in using multifactor authentication processes. Then there are biometric authentication methods where fingerprints are used. All these are time-saving mechanisms preventing users from cyber fraud.
  • QR Code payments: Many banking systems have QR code payment features to let customers pay via code scans. They are simple to use, convenient and fast.
  • ATM locator: Banking software has advanced search features for locating the nearest ATMs. Whether in a new area or searching for an ATM in an emergency, the store locator tool serves its purpose well.
  • Spending tracker: Track the amount of money spent and saved with online banking software. With the help of analytical reports, end users can track spending/savings to meet their monthly or yearly saving targets. The feature also supports scheduled payments and bill notifications.
  • Customer onboarding: Customer onboarding improves and enhances customer/client relationships. Core banking software thus helps leverage customer data for proposing to them the right type of product and services.
  • Transactions management: Managing transactions involve product designing, operational scalability and transaction processing. Banking software ensures the safe processing of transactions in a transparent and fully automated manner.
  • Cloud Backup: Banks can backup their data frequently using cloud services so that local servers can be freed from data size over limitations.

What Are The Benefits Of Core Banking Software?

  1. Customer relationship management activities (CRM):

    CRM is a tool for ensuring happy and satisfied customers. However, CRM in banking is equally important for handling customer service tickets, agent calendars, customer self-service portals, analytics systems and product upselling.

  2. Multiple account support:

    Software used in banks facilitates different types of account creation options such as savings, fixed, open money market, etc. Besides this, the software also helps handle investments, bonds, stocks and insurance.

  3. Safe online transactions:

    Cloud banking systems ask for double authentication to keep the data safe and secure. The network is encrypted, thus preventing the possibility of a hacker's attack. Further, the firewall system assures network traffic filtering from malicious spyware.

  4. Easy accessibility:

    Banking companies trust the software to provide customers with online access. The mechanism serves its purpose well, especially when you are travelling, need to carry out an urgent transaction or supply information for verification purposes.

  5. Simplicity of use:

    Core banking services need to be reliable, transparent and secure. All efforts will be justified if they are customer friendly. Banking software companies have created applications after keeping customer support in view. Most banking software solutions are simple and easy to use.

  6. Reduced operational costs:

    Bank software has greatly helped this sector reduce operational costs by automating most banking transactional and financial services. With reduced dependence on the workforce, the software is helping the banking industry save operational costs while at the same time guaranteeing efficient services.

Banking Software Modules and Integrations

Banking software consists of various modules within them, and few software support integrations of other modules as well as per their requirements. Here is a list of modules that comes along:

  • Core banking: It is an integral part of any bank and takes care of daily transactions, customer database management, loan, and account management, etc. It automates major functions of banks like crediting interest, generating statements, accounting, and all other major functions.
  • Credits and loan management: The loan management module in banking software keeps track of debt, loan eligibility, interest, due dates, asset classification, and late payments. It also manages credit accounts, OD accounts, mortgages, credit cards, hypothecations, and all other credit-related transactions.
  • Investments: The module helps track investments, portfolios, gains and losses, and market conditions. It also provides order management, position tracking, and performance analysis features. It is a compulsory module for investment banking where transactions happen at a very high speed and need to be tracked carefully.
  • SMS & Email Sender: SMS and Email module communicate to the customers related to transactions and information like ATM withdrawal, cheque clearing, Loan disbursement confirmation, account debit/credit, OTP (One Time Password) for online transactions, etc.
  • Risk management: It helps banks to assess, monitor, and control the risks involved in various aspects of their operations. It covers market risk, credit risk, operational risk, etc. and provides comprehensive risk management solutions.
  • Wealth management: The wealth management module helps banks to manage the wealth of their customers by providing features like portfolio management, performance analysis, asset allocation, etc. It is a compulsory module for private banks and Non-Banking Financial Institutions.
  • Corporate banking: This module provides features for managing corporate accounts, transactions, and services. It covers account management, treasury management, trade finance, project finance, and other banking services.
  • AI chatbot: Chatbot is the latest addition to banking software modules. It helps banks to provide 24/7 customer support and resolve queries instantly. It is a very useful tool for banks as it helps them save on customer support costs while simultaneously providing a better customer experience.
  • Fraud management: This module helps banks to detect and prevent fraud. It covers fraud, identity theft, money laundering, and other financial crimes. It is a compulsory module for all banks as it helps them to protect the interests of their customers and shareholders.
  • Operational intelligence: This module helps banks monitor and optimise banking operations while providing vital insights into the banking process. It covers performance management, capacity planning, resource utilisation, and other operational metrics. It is a compulsory module for all banks as it helps them to improve their efficiency and productivity.

How to Choose the Best Software for Banking Services?

Try to ensure that the best banking software that you select has the following features attached to it.

  • Internet Banking: Internet banking allows customers to do their home banking. The banking system you choose must have a robust internet banking module.
  • Mobile Banking: With the increasing use of smartphones, banks offer mobile banking services to their customers. The selected banking software must facilitate mobile banking compatible with iOS and Android devices.
  • Core Banking Functionalities: The core banking function is the heart of the banking system. Banking software functionalities includes modules like deposits, withdrawals, account transfers, account management, etc. The software you choose must have a robust and scalable core banking module.
  • Artificial Intelligence: AI chatbots are becoming increasingly popular as they help banks to provide 24/7 customer support and resolve queries instantly. Always consider AI as a plus point while selecting a banking system.
  • Data storage and Backup: Banking systems stores a large amount of data like customer details, transactions, etc. It is important that the software syncs and creates a backup of all your consumer, transaction, and banking data.
  • Cyber security and Firewall Protection: As banking software deals with critical and confidential data they must provide high cyber security and firewall protection.
  • CRM Integration: It is important that the software you select integrates with your bank's CRM system. This will help you to get a 360-degree view of your customer and offer a better customer experience.
  • Business Analytics: Banking software must provide business analytics to help you understand customer behaviour, trends, and preferences. This data can be used to offer customised products and services to customers.
  • Real time Communication Channels: Banking solutions should also facilitate communication channels like email, SMS, and push notifications that help banks to communicate with their customers in real time.

Top 10 Banking Software Companies

  • Temenos
  • Infosys
  • Oracle
  • Cleartouch
  • TCS
  • Sopra Banking
  • Megasol Technologies
  • Kensoft Infotech
  • Avaloq

10 Best Software for Banking Sector

Here is the list of best banking software used in banks in India

Top 10 Software Used by Banks in India
Banking Software Industry
TCS BaNCS Banking and Financial Services
Oracle FLEXCUBE Banking and Financial Services
Infosys Finacle Banking and Financial Services
Sopra Banking Software Banking and Financial Services
SAP for Banking Banking and Financial Services
Temenos T24 Transact Banking and Financial Services
FusionBanking Banking and Financial Services
DICEUS Banking and Financial Services
Corniche Banking and Financial Services
Websoftex Banking Software Banking and Financial Services

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