Key to bringing new fintech to your core banking system – Colony Bank/BAI Banking Strategies

Instead of repetitive data mapping for every fintech integration, middleware

 brings seamless linkage at a much faster pace.

Today’s banks are increasingly complex and dynamic. Like a human brain firing countless neural signals, banks execute thousands of transactions each day. They navigate intricate processes, from loan origination to withdrawals, deposits, and credit. Just as our bodies actively work every moment to sustain us, often without our awareness, many crucial bank functions operate entirely behind the scenes.

Then, there are the highly visible activities, like providing customers with the best experience possible. The challenge? Seamlessly integrating data so that these diverse use cases can work together flawlessly.

Fortunately, banks have core banking systems that act as the “central nervous system” or “control center” of the institution. These systems play a critical role in managing a bank’s daily operations, processing thousands of lines of customer data. And as banks have embraced digital innovation, organizations increasingly turn to fintech partnerships to achieve their goals, ushering in even more data.

While in an ideal world, a bank’s legacy technology would integrate with new technology partnerships seamlessly, the reality is that core banking systems often face issues when integrating with new technology stacks. This can quickly become a stumbling block on the path to banking innovation.

Take Colony Bank, Georgia’s largest community bank with just over $3 billion in assets. Like many others, it relied on its core banking system for third-party fintech integrations. However, the pace of each integration was slow and laborious, taking up to six to nine months and requiring hours of significant manual data entry. Colony Bank turned to a solution that could act as a bridge connecting its core banking system with its fintech partnerships.

Enter: middleware.

Speeding up tech integration to satisfy today’s banking customers - Read entire article.