Sopra Banking Software Unveils AI-Powered Core Banking System
Sopra Banking Software (SBS) has recently introduced a cutting-edge core banking system, aptly named the SBP Core Platform, that is infused with artificial intelligence (AI) capabilities, according to PYMNTS. The global FinTech company hails this cloud-native platform as a game-changer in the banking technology landscape.
In a press release issued on Tuesday, October 10, SBS emphasized the fusion of cloud technology and AI within the SBP Core Platform, marking a significant leap in the evolution of banking systems. Eric Bierry, CEO of Sopra Banking Software, highlighted the platform’s key attributes, stating, «The SBP Core Platform features an open architecture, high scalability, and integrated AI capabilities.»
One of the platform’s standout features is its delivery through Software-as-a-Service (SaaS), which not only ensures cost efficiency but also guarantees the highest level of security and effortless product updates. Bierry stated, «Delivered in Software-as-a-Service, it offers cost efficiency, the highest level of security and seamless product updates, ensuring our customers can access our latest innovations without lengthy migration projects.»
The SBP Core Platform is designed to support a wide array of banking services, ranging from deposits and payments to lending, compliance, and regulatory reporting. Notably, it seamlessly integrates with Sopra Banking Software’s Digital Engagement Platform, presenting banks with a cost-effective solution and enabling rapid time-to-market for an end-to-end banking platform.
Michel De Bolle, Chief Product Officer at Sopra Banking Software, expressed the company’s vision for this groundbreaking platform, saying, «A few years ago, we pioneered the introduction of a component-based core banking platform. Today, we aspire to be at the forefront of integrating AI into essential banking systems. This is not a future vision; it’s our current reality.»
The SBP Core Platform goes a step further by offering a pre-configured Model Bank, facilitating quick adoption and delivering a lower total cost of ownership (TCO) for customers. Its cloud-native development and runtime environment, tailored to the financial services industry, ensure high availability and robust security measures.
The press release also highlighted Sopra Banking Software’s extensive reach, with over 1,500 financial institutions and large-scale lenders across 80 countries relying on their expertise and solutions.
In a related development within the banking technology sector, Visa announced plans in June to acquire the core banking platform Pismo. This strategic move aims to expand Visa’s solutions and geographic footprint while providing core banking and issuer processing capabilities via cloud-native application programming interfaces (APIs). Additionally, Visa will offer support and connectivity for emerging payment rails, including Pix in Brazil, to its financial institution clients.