Generally speaking, an out-of-box banking solution is ready-made software that supports standard processes. Most of you will probably ask what to do when I need personalised services that meet my business needs? Will it work in the long term? Will I be able to upgrade and make changes in the future! The answer is simple! Yes, it is possible! Carry on reading to find out more.

What is Core Banking Out-of-the-Box?

An Out-of-the-box (OOTB) Core Banking solution or so-called Off-the-shelf solution comprises the banking core to set up basic or more specific functionalities, e.g., a list of ready-made integrations, white-label templates for reports and workflows, ready-to-new-brand web and mobile applications, etc. Our Macrobank Core Banking OOTB solution is ready to work with minimum customisation, but it can always be configured to shape future requirements.

Besides minimal configurations, the solution offers the flexibility to add components, integrations, and essential features to enable you to turn your ideal functional requirements into a solid and best-fit solution.

Read how flexibility of Advapay`s Macrobank can help you to build the future-proof Core Banking solution.

General settings and configurations in a back-office

The ability to make general settings and changes in the back-office is a must for any Core Banking system. Most likely, you will need to customise your everyday operations – to change workflows of processes, set currencies & new fees, apply rules and roles, customise reports and make many other customisations. Such changes are easy to make, and they apply automatically to any new operations.

Adaptations

You have a pitch-perfect Core Banking out-of-the-box solution that covers most of your needs, but it doesn’t have a particular field or report option. A custom add-on for the solution can fill in the blanks!

Managing web banking (Internet-banking) and mobile banking apps

Many Out-of-the-box Core Banking solutions, including Macrobank, come with white-label applications for end-users, e.g., Web bank and Mobile Banking apps. They are already integrated with a core system or back-office. They are ready-to-use, easy-to-brand and require not so much customisation. But you may need to customise them for your business, e.g., change, add or delete fields; add some additional steps, for example, additional verification or request additional information.

To make these changes, operators and administrators could remotely make these changes from the back-office of Macrobank. After changes are made and saved – they immediately appear in the Web bank or Mobile app without reloading the app.

New integrations and add-ons

You are a fintech start-up, and you need a basic version of the Out-of-the-box Core Banking solution Macrobank to start your business. But in a half of a year, your business has grown, and now you need an upgrade to the more advanced version that supports all other payment methods and currencies. Or it may happen that you plan your business, and you need an additional custom module that must be integrated with the existing version of Core Banking to enable a new product for end-customers.

Then you have two options – you can choose additional integrations from the list of ready integrations or order a custom integration that perfectly supports your business needs.

More questions how out-of-the-box Core Banking solutions can help you to support your business? Please leave us a message and book your demo.


Advapay is a technology company providing the Digital Core Banking platform to empower fintech clients or digital banks to start their businesses and accelerate digital transformation. The platform delivers all essential functionalities, a back-to-front system and a set of tools to customise and bring new integrations. With Advapay, potential and existing customers can connect either to the cloud-based SaaS or on-premise software. Besides the technical infrastructure, the company provides business advisory and fintech licensing services. Interested to learn more, please drop us a message.

Share this post