Difference Between Flexcube vs Finacle
Wondering about the best core banking platform suitable for your business?
As we all know core banking has changed the way we look at banking services in today’s world,
Core banking can is basically a bank’s back end operating system support for all the bankers and customers of the bank, Core banking helps the customer and banker to provide a smooth transaction between various branches of the same bank, Every bank is connected to their own specific domain server which allows the user to interact their transaction the customer no need to visit there home branch or the branch where he has opened the account.
Core banking is playing a huge role in the banking system, while no only in the field of banking but also in all the field of business, due to the easy and smooth transactions happening in the bank the business is able to run their business hassle-free transactions, While there is various core banking software available in the market, but the most important question is which the best suitable for your business.
In today’s topic, we will understand the difference between the two most leading brands in the core software are Oracle Flexcube and Finacle from Infosys, however before jumping into the difference let’s under a bit about them.
Flexcube is a software used for automated universal core banking for the main purpose of providing assistance for banks and financial institutions all around the world. However, Its main focus is to offers customer-centric core banking functionalities and ensures user-friendly to all the customers, increase communication between consumers and bank employees.
However, Here is an interesting fact, more than 10% of the bank’s population in the world has not only accepted it but also being powered by the Oracle FLEXCUBE. More than 600+ financial institutions across 110+ countries all across the world have been using the Oracle Flexcube in their company’s universal banking solution.
Adopting an auto advancement tool that is profound on machine learning, which will lead the client to enhance and change the straight to the companies in the unit of processing, helps the company by providing a technical and digital platform for establishing their presence in the market.
Finacle is a software developed by Infosys, it is a cloud-based solution that also provides assistance to banking solutions and not only services that enable the bankers to implement their strategies but also operational priorities.
In other words, It is an extensive and comprehensive technology-led and also a business transformation that will not only lead the retail-oriented, corporate but also universal banks worldwide.
On the one hand, Finacle is currently providing its services to more than 100+ countries and on the other hand serving more than a billion-plus customers all around the world.
Simultaneously, Holding around 1300+ clients and trusted partners, furthermore, Finacle stands to be the fastest, safest, and high potential core banking facility to its clients, and with trust and confidence in its services, it keeps attracting new clients at a rapid speed.
Difference Between Oracle Flexcube vs Finacle
|Number of clients||600+||1,300|
|Headquarters||Mumbai, India||Bangalore, India|
|Customer profile||Universal, direct, private, and Islamic banks; financial and lending institutions.||Retail, corporate, universal, community, and Islamic banks; lending and payment providers|
|Number of end-customers||380 million||1 billion|
|Number of employees||9,000||2,800|
|Number of offices||79||6|
|Solutions||Corporate, Retail, Universal, Community Banking Suites, Payment gateways, Digital engagement Hub||Corporate, Retail, Universal, Community Banking Suites, Payment gateways, Digital engagement Hub|
In summary, to “Difference Between Oracle FLEXCUBE vs. Finacle” in the final analysis, however, we do not promote or encourage any of the products or services we are just providing the knowledge, so that you may know the difference.[ Read More: What Is Core Banking And How Does It Work? ]
[ Read More: What Is Finacle? Benefits And Advantages ]