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Bank in a box

Matchi Trend Report - Digital Account Origination

Fintechs have made it possible to create a banking platform (bank-in-a-box) containing elements from different software providers and outsourcing to deliver modules of a banking platform without expensive and time consuming investment in information technology like banking legacy systems

A traditional bank usually has multiple technology systems that have been added onto over a period of time according to needs and scalability. The core banking platform has usually become a legacy system and one that is often expensive to maintain. The Bank in-a-box solution was traditionally used to refer to a banking solution required for a new bank or a non-bank financial institution who wanted to create a new deposit taking section without incurring massive investment costs in staff and systems.

The general need was to cover basic banking functionality, be scalable and yet offer flexibility. The proliferation of different software solutions and its specific focus on particular areas of banking, allied to the increasing ability of different solutions to be integrated, has led to a different philosophy to building core banking solutions

It is now possible to create a banking platform containing elements from different software providers and outsourcing where necessary including:

  • Core banking platform for back-end data processing of transactions
  • Support for all delivery channels – typically be focused on mobile channels
  • Outsourcing of back office functions
  • Additional solutions according to need – mostly on creating technology enabled seamless transactions

The advantage of using Bank-in-a-box solution is the sheer breadth of offerings and the ability to combine fintech innovations according to need. Given the large number of fintech innovations that are available, it is difficult to classify which solutions should be added to a core banking platform. However, a selection of fintech innovations are shown to demonstrate the ability to create a bespoke banking solution.

Some solutions

Core banking systems

Payment solutions

Interbank platform

Customer service

Customer onboarding

Scanning technologies allows the photographing of images, typically using a mobile phone and uploading onto a secure website. An additional feature is the extraction of data from images and populating information into online forms.

Document storage

Storage solutions have used the cloud for accessible yet secure client document storage that can be updated in real time as part of a seamless process






More on Matchi: Matchi is a global fintech innovation match-making firm, since 2013. Matchi has worked with over 100 leading banks and insurance companies (FIs) around the world, and has a database of over 2,500 fintech firms. Matchi provides both a highly curated portal of fintech solutions, as well as bespoke projects for FI clients to source targeted fintech solutions aimed at the FIs focus areas / pain points. The global Matchi team has run Innovation Challenges and Market Scans for multiple FIs around the world, in markets as diverse as Canada, Japan and India, as well as searches in other geographies.

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