Innovate Finance member Naqoda, a provider of software solutions and services to the financial industry, today announced the release of its core banking software. Naqoda’s software will allow existing banks, challenger banks, retail entrants and others to quickly deliver an omnichannel banking experience to their customers and efficiently organise their day-to-day operations.
Following the successful implementation of its Tax Engine solution at banks in Germany, Naqoda is now ready to release its ‘fast, flexible and fluid’ solution for core banking operations.
Naqoda’s Core Banking Platform is set to compete with new start-ups and legacy vendors alike but unlike the legacy vendors, Naqoda believes it can offer something unique and versatile.
Founder and Managing Director Erik Bogaerts commented: “I have worked in IT and the financial industry for over 20 years now and it never fails to amaze me that banking is still stuck in the last century.
“But what choice do banks have? Implementing legacy software is not going to give you the competitive edge to face today’s wave of digital disruption.”
Banks are using technology dating as far back as the 1970’s yet millennials are demanding banking services at the touch of a button on their smartphones. Naqoda’s latest software will allow banks to meet the demands of this fast paced generation.
Cloud enabled and ready for Open Banking and PSD2, Naqoda’s Core Banking Platform easily integrates with 3rd party systems for features such as accounting, payments and regulatory reporting. Its low-code framework and integrated tool set means it’s easy to extend and adapt the software to user’s needs with minimal or no programming.
Erik explained: “Naqoda Core Banking Platform has been built using the latest technology and has been designed to meet ever changing requirements for years to come. Flexibility is not something you build on top of your systems, it has to be in the core.”
Naqoda is a distributed company with staff in the UK, Germany and China and has been in operation since 2011.