# Best Digital Banking Platforms - Page 2 *By [Nathan Calabrese](https://research.g2.com/insights/author/nathan-calabrese)* Digital banking platforms digitize bank operations, facilitating digital customer interactions and allowing banks to offer a host of digital financial products. With a digital banking platform, banks can jumpstart and ensure the transition from brick and mortar to a multichannel, digital bank. These solutions differ from [loan software](https://www.g2.com/categories/loan), which is more narrow in scope and designed to facilitate the origination and servicing of loans. Digital banking platforms manage the digitization of multiple types of banking products, which may include commercial accounts, retail accounts, back-office tasks, and more. Banks rely on digital banking platforms to offer a wide range of financial products across multiple digital channels, meeting customers where they live and work. To qualify for inclusion in the Digital Banking Platforms category, a product must: - Deliver digital banking services across multiple channels - Facilitate the provision of optimal customer service and engagement - Manage both lending and non-lending products - Be designed specifically for use by banks - Support or integrate with existing third-party systems and solutions ## How Many Digital Banking Platforms Products Does G2 Track? **Total Products under this Category:** 164 ### Category Stats (May 2026) - **Average Rating**: 4.47/5 (↑0.01 vs Apr 2026) - **New Reviews This Quarter**: 24 - **Buyer Segments**: Mid-Market 47% │ Small-Business 35% │ Enterprise 18% - **Top Trending Product**: MeridianLink Consumer (+0.166) *Last updated: May 18, 2026* ## How Does G2 Rank Digital Banking Platforms Products? **Why You Can Trust G2's Software Rankings:** - 30 Analysts and Data Experts - 400+ Authentic Reviews - 164+ Products - Unbiased Rankings G2's software rankings are built on verified user reviews, rigorous moderation, and a consistent research methodology maintained by a team of analysts and data experts. Each product is measured using the same transparent criteria, with no paid placement or vendor influence. While reviews reflect real user experiences, which can be subjective, they offer valuable insight into how software performs in the hands of professionals. Together, these inputs power the G2 Score, a standardized way to compare tools within every category. ## Which Digital Banking Platforms Is Best for Your Use Case? - **Leader:** [Relay](https://www.g2.com/products/relay-financial-relay/reviews) - **Highest Performer:** [Lumin Digital](https://www.g2.com/products/lumin-digital/reviews) - **Easiest to Use:** [Alkami](https://www.g2.com/products/alkami-technology-inc-alkami/reviews) - **Top Trending:** [Lumin Digital](https://www.g2.com/products/lumin-digital/reviews) - **Best Free Software:** [Relay](https://www.g2.com/products/relay-financial-relay/reviews) --- **Sponsored** ### Advapay Macrobank is a powerful Core Banking and Crypto-Fiat Wallet Software developed by Advapay to help fintech companies, payment institutions, and crypto businesses launch and scale modern financial services. The platform provides a flexible infrastructure for companies that need to manage digital banking operations, payment processing, and crypto-fiat transactions within a single unified system. Designed for fintech startups, payment providers, EMI and PI institutions, and crypto platforms, Macrobank combines Core Banking capabilities with a robust wallet and payments engine. The platform enables businesses to manage client accounts, multi-currency wallets, transactions, compliance processes, and integrations with banks and financial institutions. Macrobank provides a complete front-to-back financial infrastructure. The system includes a powerful back-office engine for operational management, transaction processing, compliance monitoring, and financial accounting. At the same time, it offers ready-to-use front-end applications, including white-label web banking and mobile banking apps. This allows financial institutions and fintech companies to deliver a full digital banking experience under their own brand. The platform supports a wide range of financial operations, including IBAN account management, payment processing, digital wallets, and embedded crypto functionality. Companies can offer both fiat and cryptocurrency services, making the platform suitable for businesses operating in both traditional finance and digital assets. Macrobank also includes advanced modules such as a general ledger and chart of accounts, transaction monitoring, customer onboarding, and integrations with AML and KYC providers. Its modular architecture allows companies to customise and configure the platform according to their business model, regulatory requirements, and operational workflows. The system offers seamless API-based integrations with banks, payment systems, card providers, and external compliance tools. This enables fintech companies to quickly build scalable payment infrastructure and launch new financial products with reduced time to market. Macrobank is offered with flexible deployment and payment options. Companies can choose between SaaS deployment, a software license, or buy source codes. The platform is available through both monthly subscription models and one-time license fees, allowing businesses to select the option that best fits their operational and financial strategy. With its combination of Core Banking software, crypto-fiat wallet functionality, and payment infrastructure tools, Macrobank supports fintech and crypto companies that aim to build reliable, scalable, and compliant financial services in the global digital economy. [Visit website](https://www.g2.com/external_clickthroughs/record?secure%5Bad_program%5D=ppc&secure%5Bad_slot%5D=category_product_list&secure%5Bcategory_id%5D=1488&secure%5Bdisplayable_resource_id%5D=1488&secure%5Bdisplayable_resource_type%5D=Category&secure%5Bmedium%5D=sponsored&secure%5Bplacement_reason%5D=page_category&secure%5Bplacement_resource_ids%5D%5B%5D=1488&secure%5Bprioritized%5D=false&secure%5Bproduct_id%5D=160341&secure%5Bresource_id%5D=1488&secure%5Bresource_type%5D=Category&secure%5Bsource_type%5D=category_page&secure%5Bsource_url%5D=https%3A%2F%2Fwww.g2.com%2Fcategories%2Fdigital-banking-platforms%3Fpage%3D10&secure%5Btoken%5D=08d8388b4a790d0a49aa0337608fff11d801dfae0e94164f2151582d69cd338f&secure%5Burl%5D=https%3A%2F%2Fadvapay.eu%2F&secure%5Burl_type%5D=company_website) --- ## What Are the Top-Rated Digital Banking Platforms Products in 2026? ### 1. [Finexer Open Banking Platform](https://www.g2.com/products/finexer-open-banking-platform/reviews) Finexer Open Banking is one of the best Open Banking provider in the UK in 2025. Finexer Open Banking platform, providing integrated instant payment and enriched data solution for the enterprise. Finexer leverages the power of open banking to connect businesses directly to financial institutions, providing real-time financial data access and instant Pay-By-Bank payment capabilities. We fulfil our promise of revolutionising payments and unlocking the potential of open banking by offering user-friendly interfaces, white-label customisation, dedicated support, and rapid deployment options. We are FCA-authorised Payment Institutions under the second payment services directive (PSD2). We are committed to driving the open banking revolution by providing robust APIs and platforms enabling secure, compliant, seamless account-to-account transactions and access to enriched financial data. Covering Products : 

 Open banking Payments : 
 1. Instant Payment - Request to PaybyBank 2. Payout -Instant refund and withdrawal 3. Bulk Payout - Multiple payment in one click 4. Recurring payment(Beta) - VRP’s and Sweeping Open Banking Enriched Data: 1. Transactions -Real-time bank transaction data 2. Balance check - Income, expense and balance data 3. Authenticate - Account details, sort code, IBAN and BIC 
 4. Verification: KYC/KYB 
 **Average Rating:** 4.8/5.0 **Total Reviews:** 3 **How Do G2 Users Rate Finexer Open Banking Platform?** - **Ease of Use:** 9.4/10 (Category avg: 9.0/10) - **Quality of Support:** 10.0/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind Finexer Open Banking Platform?** - **Seller:** [Finexer Open Banking Platform](https://www.g2.com/sellers/finexer-open-banking-platform) - **Year Founded:** 2019 - **HQ Location:** London, GB - **LinkedIn® Page:** https://www.linkedin.com/company/finexerltd/ (5 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 75% Small-Business, 25% Mid-Market ### 2. [B2BPay](https://www.g2.com/products/b2bpay/reviews) B2BPay is a online banking software that offers a virtual bank account for business. It features a non resident bank account in Europe, can integrate with marketplaces and payment gateways and gets notifications of incoming payments. **Average Rating:** 4.5/5.0 **Total Reviews:** 2 **How Do G2 Users Rate B2BPay?** - **Ease of Use:** 9.2/10 (Category avg: 9.0/10) - **Quality of Support:** 7.5/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 6.7/10 (Category avg: 8.5/10) **Who Is the Company Behind B2BPay?** - **Seller:** [B2B Trade Payment Services AB](https://www.g2.com/sellers/b2b-trade-payment-services-ab) - **Year Founded:** 2017 - **HQ Location:** Helsinki, FI - **LinkedIn® Page:** https://www.linkedin.com/company/b2b-pay (3 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ### 3. [Clayfin](https://www.g2.com/products/clayfin/reviews) Clayfin’s integrated, omnichannel, retail banking solution is designed to help you deliver modern and cross-platform customer experience. It is aligned with your customer expectations and enables you to have a deeper and more personalized engagement with your customer. Clayfin offers all banking channels, be it the internet, mobile, wearables or API. Our additional offerings of PFM, Digital Onboarding and Dateline are designed to ensure that you are a step ahead in your banking capabilities. Make the most of your existing customer relations and attract potentials by creating a personalized banking journey with Clayfin’s Digital Retail Banking Solution. **Average Rating:** 3.8/5.0 **Total Reviews:** 2 **How Do G2 Users Rate Clayfin?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 7.5/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 5.0/10 (Category avg: 8.5/10) **Who Is the Company Behind Clayfin?** - **Seller:** [Clayfin](https://www.g2.com/sellers/clayfin) - **HQ Location:** Chennai - 600096, IN - **LinkedIn® Page:** https://www.linkedin.com/company/13298128 (234 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 50% Small-Business, 50% Enterprise ### 4. [CR2](https://www.g2.com/products/cr2-cr2/reviews) BankWorld Internet is an internet banking solution with personal finance management and customer experience personalization capabilities. **Average Rating:** 4.3/5.0 **Total Reviews:** 2 **How Do G2 Users Rate CR2?** - **Ease of Use:** 9.2/10 (Category avg: 9.0/10) - **Quality of Support:** 8.3/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind CR2?** - **Seller:** [CR2](https://www.g2.com/sellers/cr2-8d51f34f-daf3-4e53-af91-cda962fe63a3) - **Year Founded:** 1997 - **HQ Location:** Dublin, IE - **Twitter:** @CR2banking (1,771 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/cr2 (251 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 50% Mid-Market, 50% Small-Business #### What Are CR2's Pros and Cons? **Pros:** - Ease of Use (1 reviews) - Setup Ease (1 reviews) **Cons:** - Expensive (1 reviews) ### 5. [Digital Edge](https://www.g2.com/products/digital-edge/reviews) ASEE Digital Banking delivers modern digital banking solutions for both retail and corporate customers, designed to meet the distinct requirements of each segment while maximizing reuse of shared capabilities. Built on a flexible and scalable platform, it combines preconfigured business modules with strong domain expertise to help financial institutions create intuitive, high-performing digital experiences. The ASEE Digital Banking product portfolio includes: - Digital Origination – a strategic solution that enables banks to streamline, automate, and digitize sales and underwriting processes. - Digital Edge – digital banking platform empowering modern banks to digitize channels and optimize operations with industry-leading technology. - Open Banking – an open banking platform combining PSD2 compliance, secure APIs, and ecosystem-driven innovation. At its core, ASEE Digital Banking is a comprehensive digital ecosystem that brings together ASEE’s digital offerings with selected internal and third-party solutions. It enhances core sales and service processes while enabling banks to collaborate with external partners, unlocking new business models and expanding open banking opportunities. **Average Rating:** 4.8/5.0 **Total Reviews:** 2 **How Do G2 Users Rate Digital Edge?** - **Ease of Use:** 10.0/10 (Category avg: 9.0/10) - **Quality of Support:** 7.5/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind Digital Edge?** - **Seller:** [ASEE Group (formerly ASSECO South Eastern Europe)](https://www.g2.com/sellers/asee-group-formerly-asseco-south-eastern-europe) - **Year Founded:** 2007 - **HQ Location:** Warsaw, PL - **LinkedIn® Page:** https://linkedin.com/company/asseco-south-eastern-europe/ (2,064 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 50% Mid-Market, 50% Small-Business ### 6. [DXC Technology](https://www.g2.com/products/dxc-technology-company-dxc-technology/reviews) Celeriti™ is DXC's end-to-end suite of SOA-based enterprise software for banking, cards, payments and lending. **Average Rating:** 4.3/5.0 **Total Reviews:** 2 **How Do G2 Users Rate DXC Technology?** - **Ease of Use:** 6.7/10 (Category avg: 9.0/10) - **Quality of Support:** 9.2/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 5.8/10 (Category avg: 8.5/10) **Who Is the Company Behind DXC Technology?** - **Seller:** [DXC Technology Company](https://www.g2.com/sellers/dxc-technology-company-8b67eef5-86f9-493f-b238-590be3799d91) - **Year Founded:** 2017 - **HQ Location:** Ashburn, Virginia - **Twitter:** @DXCTechnology (39,057 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/16198010/ (90,179 employees on LinkedIn®) - **Ownership:** NYSE: DXC **Who Uses This Product?** - **Company Size:** 50% Mid-Market, 50% Small-Business ### 7. [fintechOS](https://www.g2.com/products/fintechos/reviews) FintechOS is the global leader in fintech enablement, with a mission to make fintech innovation available to every company. The FintechOS platform simplifies and accelerates the launching, servicing, and expansion of financial products and services, helping businesses recognize value up to 5 to 10 times sooner than with other approaches: with FintechOS, companies can get up and running with new financial solutions in as little as 12 weeks.​​ Unlike others, FintechOS breaks data free from the core, enabling the creation of personalized and differentiated products and customer journeys at scale. FintechOS connects with any ecosystem tech or service – financial and non-financial – and can plug anywhere in the tech stack, working with existing and legacy tech that companies want to keep.​ A global employer with offices in London, New York, and Bucharest, FintechOS customers range from globally strategic companies like Groupe Société Générale, Admiral Group, and BPCE Oney, to game-changing players like Oney, eMag, and Howden. Its partners include niche consulting agencies, global consulting firms, and systems integrators, including Deloitte, EY, and PWC. **Average Rating:** 4.0/5.0 **Total Reviews:** 2 **How Do G2 Users Rate fintechOS?** - **Ease of Use:** 6.7/10 (Category avg: 9.0/10) - **Quality of Support:** 5.0/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 6.7/10 (Category avg: 8.5/10) **Who Is the Company Behind fintechOS?** - **Seller:** [Fintech OS S.R.L](https://www.g2.com/sellers/fintech-os-s-r-l) - **Year Founded:** 2017 - **HQ Location:** London, GB - **Twitter:** @fintech_os (1,259 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/fintechos/ (232 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 50% Mid-Market ### 8. [Finzly](https://www.g2.com/products/finzly/reviews) Finzly BankOS is a digital banking platform and a parallel core. BankOS, fosters innovation on a cloud native, API-first digital core that allow banks to launch modern solutions quikly and to partner with fintechs to offer Banking as a Service **Average Rating:** 4.8/5.0 **Total Reviews:** 2 **How Do G2 Users Rate Finzly?** - **Ease of Use:** 9.2/10 (Category avg: 9.0/10) - **Quality of Support:** 9.2/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind Finzly?** - **Seller:** [Finzly](https://www.g2.com/sellers/finzly) - **Year Founded:** 2012 - **HQ Location:** Charlotte, US - **Twitter:** @finzly (271 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/finzly (241 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 50% Small-Business, 50% Enterprise ### 9. [Mambu](https://www.g2.com/products/mambu/reviews) Mambu is a cloud platform designed to let user rapidly build, integrate, launch and service any lending portfolio into any market. SME lenders. **Average Rating:** 3.8/5.0 **Total Reviews:** 2 **How Do G2 Users Rate Mambu?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind Mambu?** - **Seller:** [Mambu B.V.](https://www.g2.com/sellers/mambu-b-v) - **Year Founded:** 2011 - **HQ Location:** Amsterdam, NL - **Twitter:** @Mambu_com (3,157 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/mambu/ (730 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Mid-Market ### 10. [Stitch](https://www.g2.com/products/stitch-2025-07-15/reviews) Stitch is the unified platform that helps you build, launch, and scale financial products. Whether you’re storing, moving, or lending money, Stitch lets you launch faster, simpler, and more cost-effectively. **Average Rating:** 4.5/5.0 **Total Reviews:** 2 **How Do G2 Users Rate Stitch?** - **Ease of Use:** 9.2/10 (Category avg: 9.0/10) - **Quality of Support:** 7.5/10 (Category avg: 8.5/10) **Who Is the Company Behind Stitch?** - **Seller:** [Stitch](https://www.g2.com/sellers/stitch-06510d1b-6a61-460f-93ff-6cc0a1efba3b) - **Year Founded:** 2021 - **HQ Location:** Riyadh, SA - **LinkedIn® Page:** https://www.linkedin.com/company/stitchmea/ (29 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ### 11. [Unit](https://www.g2.com/products/unit/reviews) Unit is the leading embedded finance platform helping software companies launch a financial hub that gives customers access to working capital, money management, and accounts payable tools. Unit’s Ready-to-Launch solution is the easiest way to increase retention and earn revenue - with zero build and fully managed risk operations, customer support, and adoption playbooks. Companies like Wix, Bill.com, Honeybook, Relay, and Homebase use Unit to process over $50 billion in transactions annually for almost 2 million end-customers through its banking partners. For more information, visit unit.co. **Average Rating:** 3.5/5.0 **Total Reviews:** 3 **How Do G2 Users Rate Unit?** - **Ease of Use:** 7.8/10 (Category avg: 9.0/10) - **Quality of Support:** 6.1/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind Unit?** - **Seller:** [Unit Finance](https://www.g2.com/sellers/unit-finance) - **Year Founded:** 2019 - **HQ Location:** New York, US - **LinkedIn® Page:** https://www.linkedin.com/company/unit-finance (245 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 67% Mid-Market, 33% Small-Business ### 12. [Yapily](https://www.g2.com/products/yapily/reviews) Yapily is Europe’s leading open banking infrastructure platform solving a fundamental problem in financial services today: access. We securely connect our customers to thousands of banks across Europe, allowing them to access financial data and initiate payments. Yapily’s customers range from disruptive fintechs to industry leaders operating in a number of verticals. To date, we've raised $69.4 million in funding, and employ over 200 people worldwide as we continue to scale across Europe. **Average Rating:** 4.2/5.0 **Total Reviews:** 3 **How Do G2 Users Rate Yapily?** - **Ease of Use:** 10.0/10 (Category avg: 9.0/10) - **Quality of Support:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind Yapily?** - **Seller:** [Yapily](https://www.g2.com/sellers/yapily) - **Year Founded:** 2017 - **HQ Location:** London, GB - **Twitter:** @YapilyLtd (916 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/yapily/ (125 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 67% Mid-Market, 33% Enterprise ### 13. [Appzillon Digital Banking](https://www.g2.com/products/appzillon-digital-banking/reviews) Appzillon Digital Banking is a suite of pre-built omni-channel banking solutions that adopt the banking industry best practices to deliver transformative yet consistent banking experiences to both customers and bank's staff. **Average Rating:** 5.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate Appzillon Digital Banking?** - **Ease of Use:** 10.0/10 (Category avg: 9.0/10) - **Quality of Support:** 10.0/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind Appzillon Digital Banking?** - **Seller:** [i-exceed Technology Solutions](https://www.g2.com/sellers/i-exceed-technology-solutions-fea1612a-0c50-4fe3-882c-719e3c4dd758) - **Year Founded:** 2011 - **HQ Location:** Princeton, US - **Twitter:** @iexceedltd (347 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/i-exceed-technology-solutions-private-limited/ (749 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ### 14. [BANKABLE](https://www.g2.com/products/bankable/reviews) Bankableplatform enables you to launch a digital bank from scratch. **Average Rating:** 4.5/5.0 **Total Reviews:** 2 **How Do G2 Users Rate BANKABLE?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 9.2/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind BANKABLE?** - **Seller:** [Bnkbl Ltd](https://www.g2.com/sellers/bnkbl-ltd) - **HQ Location:** N/A - **Twitter:** @wearebankable (1,966 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/No-Linkedin-Presence-Added-Intentionally-By-DataOps (1 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 50% Enterprise, 50% Small-Business #### What Are BANKABLE's Pros and Cons? **Pros:** - Ease of Use (1 reviews) - Efficiency (1 reviews) ### 15. [Banno](https://www.g2.com/products/banno/reviews) Bannois everything your institution needs to service users and deploy modern experiences across all your digital channels. **Average Rating:** 4.5/5.0 **Total Reviews:** 1 **How Do G2 Users Rate Banno?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind Banno?** - **Seller:** [Jack Henry & Associates](https://www.g2.com/sellers/jack-henry-associates) - **Year Founded:** 1976 - **HQ Location:** Monett, Missouri - **Twitter:** @BannoJHA (957 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/jack-henry-&-associates/ (8,316 employees on LinkedIn®) - **Ownership:** NASDAQ: JKHY **Who Uses This Product?** - **Company Size:** 50% Enterprise, 50% Mid-Market ### 16. [Broadridge](https://www.g2.com/products/broadridge-financial-solutions-inc-broadridge/reviews) Manage investor communications from beginning to end, eliminate unnecessary printing and shipping overruns, and ensure timely delivery of shareholder communications. **Average Rating:** 3.5/5.0 **Total Reviews:** 3 **How Do G2 Users Rate Broadridge?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind Broadridge?** - **Seller:** [Broadridge Financial Solutions](https://www.g2.com/sellers/broadridge-financial-solutions) - **HQ Location:** New York, NY - **Twitter:** @Broadridge (6,509 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/11834/ (17,566 employees on LinkedIn®) - **Ownership:** NYSE:BR - **Total Revenue (USD mm):** $4,362,200 **Who Uses This Product?** - **Company Size:** 33% Enterprise, 33% Mid-Market ### 17. [BUSINESSNEXT](https://www.g2.com/products/businessnext/reviews) BUSINESSNEXT offers a range of composable business solutions primarily for the banking, insurance and financial sectors worldwide. Eminent industry experts have acknowledged its leadership role, attributing this reputation to its cutting-edge technology, innovative approaches, and deep expertise in crafting distinctive, people-centric experiences in an ever-shifting and challenging business landscape. Its key platforms, CRMNEXT, CUSTOMERNEXT, and DATANEXT, are powered by artificial intelligence and machine learning. These cloud-flexible platforms are designed to spearhead digital change. They offer a rich suite of SaaS modules that are versatile, easy to integrate, and can swiftly synchronize with different business ecosystems. Presently, BUSINESSNEXT supports over a million users from 65,000 branches and call centers, overseeing 1 billion global customers. With its primary US office in Raleigh, North Carolina, and its main international office in Noida, India, BUSINESSNEXT has a presence on five continents and boasts direct branches in 14 nations, including the U.S.A, MEA, and APAC. **Average Rating:** 4.0/5.0 **Total Reviews:** 2 **How Do G2 Users Rate BUSINESSNEXT?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 6.7/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind BUSINESSNEXT?** - **Seller:** [ACIDAES SOLUTIONS](https://www.g2.com/sellers/acidaes-solutions) - **HQ Location:** Noida, IN - **LinkedIn® Page:** http://www.linkedin.com/company/business_next (959 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Enterprise ### 18. [Chetwood](https://www.g2.com/products/chetwood/reviews) cloud-based platform allows financial services to design and deploy financial products **Average Rating:** 5.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate Chetwood?** - **Ease of Use:** 6.7/10 (Category avg: 9.0/10) - **Quality of Support:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind Chetwood?** - **Seller:** [Chetwood Financial Limited.](https://www.g2.com/sellers/chetwood-financial-limited) - **Year Founded:** 2016 - **HQ Location:** Wrexham, GB - **LinkedIn® Page:** https://www.linkedin.com/company/chetwood-financial-limited/ (144 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ### 19. [EFY Finance](https://www.g2.com/products/efy-finance/reviews) EFY Finance es un neobanco con sede en El Salvador, especializado en la gestión y el uso de activos digitales a nivel global. Ofrece servicios financieros como cuentas corporativas, inversiones, intercambios y una tarjeta propia, la EFYCard, que permite el uso de dólares digitales en millones de comercios alrededor del mundo. La empresa promueve la libertad financiera digital ofreciendo rendimientos competitivos en inversiones. **Average Rating:** 5.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate EFY Finance?** - **Ease of Use:** 10.0/10 (Category avg: 9.0/10) - **Quality of Support:** 8.3/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind EFY Finance?** - **Seller:** [EFY TECHNOLOGIES, SA DE CV](https://www.g2.com/sellers/efy-technologies-sa-de-cv) - **Year Founded:** 2022 - **HQ Location:** Ciudad de Panamá, PA - **Twitter:** @EfyFinance (515 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/efyfinance (8 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ### 20. [eMACH.ai Digital Engagement Platform](https://www.g2.com/products/emach-ai-digital-engagement-platform/reviews) eMACH.ai Digital Engagement Platform is built to put banks and credit unions back in control—with agility, intelligence, and scale at the centre. It transforms Retail, SME & Commercial banking into truly personalized, digital-first experiences that span every stage of the customer journey. Embedded with AI, the platform speeds up acquisition, drives loyalty and elevates traditional digital banking channels into growth engines. With eMACH.ai DEP, banks and credit unions move beyond fragmented journeys. Sales, marketing, and operations come together in one integrated suite. From front-end experiences to back-office efficiency, everything works as one—so your teams collaborate better, innovate faster, and unlock new opportunities in an Open banking economy. With eMACH.ai Digital Engagement Platform, banks and credit unions unlock faster growth and stronger customer relationships across Retail, SME, Commercial, and Branch Banking. In Retail Banking, our platform accelerates customer acquisition with seamless 3-minute digital onboarding, builds loyalty through AI-powered personal finance insights, and boosts engagement with lifestyle-linked rewards, VIP tiers, and eco-friendly transactions—all while enabling instant, intelligent credit decisions. For SMEs and Commercial clients, it reduces onboarding friction with omnichannel, compliance-ready journeys, enhances visibility with unified portfolio views and 360° dashboards, and drives operational efficiency through automated bulk payments, FX, and track & trace, along with configurable alerts and reporting. In Branch Banking, it transforms in-person interactions by eliminating wait times with smart appointment booking, empowering staff with a holistic customer view for tailored advice and cross-sell, and digitizing everyday transactions—from paperless deposits to QR code withdrawals—while strengthening trust through real-time reconciliation, fraud detection, and vault monitoring. **Average Rating:** 5.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate eMACH.ai Digital Engagement Platform?** - **Ease of Use:** 10.0/10 (Category avg: 9.0/10) - **Quality of Support:** 10.0/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind eMACH.ai Digital Engagement Platform?** - **Seller:** [Intellect Design Arena Ltd](https://www.g2.com/sellers/intellect-design-arena-ltd) - **Year Founded:** 1993 - **HQ Location:** Chennai, Tamil Nadu, India - **LinkedIn® Page:** https://www.linkedin.com/company/intellect_design_arena/ (7,453 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Enterprise ### 21. [IC Smart Platform](https://www.g2.com/products/ic-smart-platform/reviews) Our Business Activity Monitor, enables you to make decisions based on statistics, access trends and the use of channels. Use our Analyzer and filter results per channel, country, time zone or device. Analyze the amount of transactions and the most used functions of your portal. **Average Rating:** 5.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate IC Smart Platform?** - **Ease of Use:** 10.0/10 (Category avg: 9.0/10) - **Quality of Support:** 10.0/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind IC Smart Platform?** - **Seller:** [INFOCORP GROUP](https://www.g2.com/sellers/infocorp-group-66b2bad9-6821-40aa-b7a6-384f564608e1) - **Year Founded:** 1994 - **HQ Location:** Montevideo, Montevideo, Uruguay - **Twitter:** @infocorpgroup (2,125 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/infocorpgroup (351 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ### 22. [Kapowai](https://www.g2.com/products/kapowai/reviews) Kapowai Online Banking is a multifunctional remote banking system that allows individuals and entrepreneurs are able to quickly and securely manage cards and accounts, make transfers, open deposits and repay loans, pay for services, obtain currency rates, find ATMs and branches, perform independent control over their expenses with PFM. **Average Rating:** 4.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate Kapowai?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 8.3/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind Kapowai?** - **Seller:** [LLC «KAPOWAI UKRAINE»](https://www.g2.com/sellers/llc-kapowai-ukraine) - **Year Founded:** 2015 - **HQ Location:** Kyiv, UA - **LinkedIn® Page:** https://www.linkedin.com/company/kapowai/ (31 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ### 23. [M2P Turing CBS](https://www.g2.com/products/m2p-turing-cbs/reviews) M2P's Turing Core Banking System (CBS) is a next-gen platform that focuses on customer experience, operational excellence, and security well within the regulatory framework. It has the richest end-to-end banking functionalities with model bank capabilities for various countries. Turing CBS is built on the most sophisticated cloud-native, cloud-agnostic, AI, and API-first platform, which can be installed on-premise, in the cloud, or as a service. It is built on the latest micro-services architecture with low code making it a modern and futuristic core banking system. Features: - Flexibility (low code capabilities) - Agile enough to accelerate new product launches - Incredible go-to-market speed. 24\*7 CBS - EOD, BOD, Month-End, Year-End process with no offline mode. - Onboarding and configuration take only a few clicks. - Pre-integrated with Fraud Risk Management (FRM) engine. - Developed with switch level, API level, data at rest, and data in transit encryption, making it one of the most secure banking software. - Centralized access to account aggregators, mobile, and third-party applications. - Go live in under 2 months. - 80+ integrated channels plugged in, broadly covering regulatory requirements, profitability enhancements, TAT improvements, etc. - Pre-integrated with all payment switches. **Average Rating:** 4.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate M2P Turing CBS?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 5.0/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 8.3/10 (Category avg: 8.5/10) **Who Is the Company Behind M2P Turing CBS?** - **Seller:** [M2P Solutions Limited](https://www.g2.com/sellers/m2p-solutions-limited) - **Year Founded:** 2014 - **HQ Location:** Chennai, Tamil Nadu, India - **Twitter:** @m2pfintech (1,435 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/m2pfintech (1,464 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Mid-Market ### 24. [Modefin Digital Banking Suite](https://www.g2.com/products/modefin-digital-banking-suite/reviews) Modefin is a global Banking and Financial Technology solution provider that empowers banks and financial institutions with state-of-the-art digital banking solutions that help them to thrive in the digital age. Founded in 2011 and headquartered in Bangalore, India, we currently serve 65+ banks in more than 20 countries worldwide. Modefin Digital Banking Suite includes: 1. Omni Channel Banking 2. Digital Onboarding (a. Self Onboarding and b. Assisted Onboarding) 3. Mobile Banking for Retail Customers (a. USSD, and b. Android & iOS Mobile Apps) 4. Mobile Banking for Corporate Customers (Android & iOS Mobile Apps) 5. Internet Banking for Retail Customer 6. Internet Banking for Corporate Customer 7. Mobile Wallet Solution 8. Agency Banking Solution 9. API Manager for Open Banking 10 . Digital Saving 11. Digital Lending 12. ChatBOT 13. LogAn - Log Analyser and Transaction Monitoring Tool 14. Rewards and Loyalty with Gamification 15. Investment Club Solution **Average Rating:** 5.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate Modefin Digital Banking Suite?** - **Ease of Use:** 8.3/10 (Category avg: 9.0/10) - **Quality of Support:** 8.3/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 3.3/10 (Category avg: 8.5/10) **Who Is the Company Behind Modefin Digital Banking Suite?** - **Seller:** [Modefin](https://www.g2.com/sellers/modefin) - **Year Founded:** 2011 - **HQ Location:** Bangalore, IN - **Twitter:** @modefinserver (73 Twitter followers) - **LinkedIn® Page:** https://www.linkedin.com/company/modefin (167 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Mid-Market ### 25. [NETinfo Digital Banking Platform](https://www.g2.com/products/netinfo-digital-banking-platform/reviews) NETinfo Digital Banking Platform provides comprehensive out-of-the-box functionalities and features to satisfy the digital banking needs of today's consumer-centric financial institutions. **Average Rating:** 5.0/5.0 **Total Reviews:** 1 **How Do G2 Users Rate NETinfo Digital Banking Platform?** - **Ease of Use:** 10.0/10 (Category avg: 9.0/10) - **Quality of Support:** 10.0/10 (Category avg: 8.5/10) - **Self-Service Banking - Digital Banking Platforms:** 10.0/10 (Category avg: 8.5/10) **Who Is the Company Behind NETinfo Digital Banking Platform?** - **Seller:** [NETinfo](https://www.g2.com/sellers/netinfo) - **Year Founded:** 2000 - **HQ Location:** Nicosia, CY - **LinkedIn® Page:** https://www.linkedin.com/company/netinfo-plc (110 employees on LinkedIn®) **Who Uses This Product?** - **Company Size:** 100% Small-Business ## What Is Digital Banking Platforms? [Financial Services Software](https://www.g2.com/categories/financial-services) ## What Software Categories Are Similar to Digital Banking Platforms? - [Loan Origination Software](https://www.g2.com/categories/loan-origination) - [Digital Customer Onboarding Software](https://www.g2.com/categories/digital-customer-onboarding) --- ## How Do You Choose the Right Digital Banking Platforms? ### What You Should Know About Digital Banking Platforms ### What are Digital Banking Platforms? Digital banking platforms are web—or mobile-based systems that can be accessed online or through mobile apps. They offer a wide range of financial services and make banking convenient and affordable by eliminating the need for in-person branch visits.  Users can create and manage accounts, check balances, send money to others, and pay bills online from any location. Digital banks may provide access to ATMs, chat, email, and customer care. They frequently offer investment services, such as robo-advisors and trading, support personal financial management, and facilitate digital payments.  The best digital banking platforms also provide data safety by including encryption and multi-factor authentication. Due to lower operating expenses, digital banks frequently offer lower fees and attractive interest rates. They may also use AI and third-party service integration to provide customized experiences.  [Fintech](https://www.g2.com/articles/fintech) platforms are increasingly becoming popular due to their practicality and adaptability to shifting consumer tastes brought by [digital transformation in banking](https://www.g2.com/articles/digital-transformation-in-banking). ### What Types of Digital Banking Platforms Exist? Each digital banking platform is designed to cater to customers' needs and preferences. Based on their structure, target audience, and services provided, there are the following types of digital banking software and platforms.  #### Online only Banks Online-only banks are virtual banks that operate entirely online. Digital-only banks do not have physical branches and provide a digital platform for users and customers to perform banking activities. Like traditional banks, they offer a full suite of banking services, including checking and savings accounts, loans, and more. #### Neobanks Neobanks operate entirely online, using an online banking model similar to online-only banks. However, their licensing ownership, focus, and regulatory oversight differ.  The significant difference is that neobanks partner with traditional banks to provide services while specializing in specific financial services like savings accounts, payment processing, or currency exchange. #### Internet and mobile banking Most traditional banks are innovating with mobile and internet banking services, which provide most of the banks’ functionalities and offerings.  This allows customers to perform all necessary banking actions, such as money transfers, checking balances, ordering checkbooks and bank statements, depositing cheques, and requesting services online, without going to the brick-and-mortar branches.   #### Unified payments interface (UPI) UPI is an instant payment system that works via mobile applications. Its interface facilitates banks' peer-to-peer and person-to-merchant transactions.  The transactions use highly secure identity documents (IDs) called UPI IDs linked to bank accounts: QR codes, phone numbers, and special characters. #### Banking cards Banking cards are used not only for withdrawing money from ATMs but also to enable individuals to transact and make other digital payments.  These cards are used in retail environments with [point-of-sale (PoS) systems](https://www.g2.com/categories/retail-pos) and online transactions. This card type also includes pre-paid cards with preloaded money and can be used without linking to a bank account. #### Government-backed digital wallets It is a type of mobile wallet that offers digital platforms for citizens to receive and manage benefits, subsidies, and government payments. In addition, digital banking solutions are still emerging in the industry, such as challenger banks, robo-advisors, payment providers, peer-to-peer (P2P) lending platforms, cryptocurrency exchanges, financial aggregators, and corporate banking.  Unstructured supplementary services data (USSD) is a type of digital banking that many in this era do not use. However, UPI uses this application to make money transfers.  ### What are the Common Features of Digital Banking Platforms? The following elements are some of the core features within the best digital banking software that can collectively contribute to the growth and adoption of these tools in the financial industry, enhancing customer engagement, security, and the overall banking experience: - **P2P payment interface:** This dedicated platform facilitates P2P payments, which help direct fund transfers between individuals or entities within seconds. This feature also helps split bills, perform merchant transactions, make easy buys, pay for services, and send money to friends and family.  - **Personal finance planning:** Digital banking platforms use AI algorithms and user data to provide personalized financial insights and facilitate personal finance planning. These tailored insights, like spending patterns, investment opportunities, and budget management, empower customers to make informed financial decisions. - **Digital wallet:** Digital wallets enable seamless accessibility to virtual storage systems for various payments, leading to convenient and efficient digital transactions. Due to the advent of digital wallets, financial innovations such as near-field communication (NFC) technology, [cryptocurrency](https://www.g2.com/categories/cryptocurrency-wallets), and tokenized digital currencies have evolved. - **Automatic bill payments:** Automating cyclic financial tasks for every individual and business entity has eased their lives. Once registered and approved for bill payments, subscriptions, and other periodic payments, these platforms automatically carry out transactions and update personal finance. - **Account and transaction management:** Digital banking software enables most brick-and-mortar account management actions, such as account opening, customer onboarding, KYC validation, requesting checkbooks, deposit management, and getting account statements. [APIs](https://www.g2.com/glossary/api-definition) enable real-time transaction processing and automated workflows, which aids rapid and accurate financial transactions and enhances operational efficiency. ### What are the Benefits of Digital Banking Platforms? From automating tasks to tracking financial activities, digital banking platforms do it all. In addition, they save time, are accessible and efficient, optimize resources, and improve customer relationships. Key benefits of the best digital banking software include: - **Accessibility and convenience:** Digital banking platforms allow round-the-clock accessibility, unlike brick-and-mortar banks with fixed service hours. These platforms provide the convenience of mobility, handiness, and ease of access to carry on any financial transactions on the go while providing facilities and features such as auto-debit, UPI payment solutions, and quick merchant payments as [payment gateways](https://www.g2.com/categories/payment-gateways). - **Robust security measures:** Digital banking software and platforms prioritize data security and protection through advanced encryption, [multi-factor authentication](https://www.g2.com/articles/multi-factor-authentication), and real-time fraud detection. These features instill confidence in customers by protecting and safeguarding their financial information and personal data, reducing the risk of cyber threats. - **Enhanced customer engagement:** Data-driven personalization, called hyper-personalization, improves [customer experience](https://www.g2.com/articles/customer-experience). User-friendly interfaces, customizable dashboards, self-service options, and convenient financial engagement improve customer interactions and digital engagement while fostering trust and streamlining business cross-selling opportunities. - **Global accessibility and integration:** Improved cross-border transactions and global financial accessibility benefit international banking services. Globalization and seamless integration with third-party financial tools and services help customers manage their entire economic ecosystem with an omnichannel and one-stop solution. ### Who Uses Digital Banking Platforms? As physical branches become obsolete, more entities are moving towards digital banking. Some of the personas who use these tools are: - **Individual consumers:** Individual consumers (banked and unbanked) use digital banking to manage their accounts, make P2P payments, pay bills, transfer funds, and access investment accounts. Managing personal finances on a finger tap has made digital banking popular and financial services more accessible. - **Businesses and merchants:** Mobile cheque deposits, minimum overdraft fees, reduced interest rates, and efficient transactions have attracted businesses and merchants towards digital banking platforms. Small businesses, large enterprises, and proprietary merchants utilize these platforms for payroll processing, monitoring and [managing cash flow](https://www.g2.com/categories/cash-flow-management), making supplier payments (via [accounts payable automation](https://www.g2.com/categories/ap-automation)), and handling other business finances. - **Investors and traders:** Third-party integrations of financial tools have made digital banking platforms a complete ecosystem. Several digital banking tools provide facilities to manage investment portfolios, access stock markets, allow wealth management, and make trades or investments. As the trend continues, the elderly, tech-savvy people, international travelers, entrepreneurs, students, startups, and freelancers with mobile phones can access digital banking platforms. ### Digital Banking Platforms’ pricing models Understanding the pricing models of digital banking platforms is crucial to aligning costs with operational and financial strategies. Here are some common pricing models: #### Subscription-based model This pricing model charges a recurring fee, either monthly or annually, based on the number of users. It offers predictable costs and often comes with customer support and regular software updates. Institutions can scale up or down as their user base changes, aligning costs with usage patterns. #### Per-transaction pricing Costs are determined by the volume of transactions processed through the platform. This model suits organizations with variable transaction volumes, aligning costs directly with business activity. Savings during low-transaction periods are normal, but costs may increase during peak times, which should be foreseen using the right [budgeting and forecasting tools](https://www.g2.com/categories/budgeting-and-forecasting). #### Tiered pricing Offers different levels of service at increasing price points. Each tier typically provides a set of features, from basic functionalities to comprehensive packages with advanced tools. This model provides flexibility for institutions to upgrade as their requirements evolve or as they grow. #### One-time license fee Some platforms offer a one-time fee for a permanent software license. While this can appear as a large upfront cost, it eliminates ongoing subscription fees, making it a cost-effective option in the long term. However, it may exclude regular updates or require additional upgrades and technical support fees. #### Revenue share In this model, the provider receives a percentage of the bank's revenue from digital banking services. This aligns the provider’s incentives with the institution's success, fostering a collaborative relationship. However, institutions must carefully assess the potential cost implications if digital banking revenue scales significantly. #### Freemium model Platforms offer a basic set of features for free, with premium features available at a cost. This model allows organizations to test the platform's core functionalities before committing financially. Institutions can opt for premium features that support more complex demands as needs grow. ### Challenges with Digital Banking Platforms Every software platform comes with its own set of challenges. A few of the key challenges include the following:  - **Customer education:** Educating customers about the platform's usage is essential in a digital world. Several banking customers tend to lose their money to fraud and mistaken transactions due to a lack of awareness. Some customers remain hesitant to fully embrace digital platforms due to concerns about data privacy, technology glitches, or a lack of familiarity with digital banking tools. Hence, it is vital to maintain trust and educate customers regarding each feature, product, and service of the platform while demarcating its pros and cons. - **Cybersecurity vulnerabilities:** With massive digital transactions, traditional fraud or scam monitoring services must catch up to the modern cybersecurity challenges that banking institutions face. As these platforms handle sensitive financial information, robust security measures are imperative. Implementing cutting-edge encryption, multi-factor authentication, and continuous security updates is essential for risk mitigation and maintaining customer trust. - **Regulatory compliance:** Digital banking is new and quickly evolving, making it challenging to keep up with constantly updating regulations and compliance measures. Adhering to stringent compliance requirements across geographies and jurisdictions demands significant resources and expertise. Failure to meet these standards can lead to legal penalties, reputational damage, and operational disruptions.  ### How to Buy Digital Banking Platforms #### Requirements Gathering (RFI/RFP) for Digital Banking Platforms For the product to align with the customer’s needs, buyers must consider vendors who offer the following functionality: - Facilitate delivery of multi-channel digital banking services - Offer built-in customer service and engagement features - Handle loan and non-loan-related product delivery - Provide pre-built integrations with existing third-party systems and tangential financial services solutions #### Compare Digital Banking Platform Products **Create a long list** When creating the long list, the buyer must take into account factors such as the intended target market, the variety of banking features available for financial transactions, desired services to be provided to consumers, the platform's regional regulatory compliance, customer experience, access to third-party integration tools, and other attributes in alignment with their customer base and industry functionalities.  **Create a shortlist** After careful consideration, each vendor's offerings should be strictly categorized, which will help to create a shortlist.  Matching customer desire with platform features is crucial to reducing the funnel to fewer vendors. According to G2, it's a good idea to have a minimum of 8 to 10 vendors who have been shortlisted based on their offers, client reviews, digital banking experience, and price (which is displayed on the website before negotiation).  Technology review platforms such as G2.com provide unbiased reviews and different comparative perspectives on the software platform.  **Conduct demos** A digital banking platform would often be adopted by a bank (to shift from the traditional banking model) or a fintech company (to provide financial services).  Therefore, these entities act as buyers who must have the initial look and feel of the platform before white labeling an existing product from the vendor or creating a platform from scratch specifically designed to meet the needs of the bank or a fintech company. This enables the buyer to ensure that the solution answers the buyer's needs and to assess employees and users for ease of use. As it is a testing phase, this can help identify potential threats, loopholes, and glitches in the software platform. It also gives a clear business plan for the software implementation, product milestones, and schedule during the platform's development, testing, and go-live phases.   #### Selection of Digital Banking Platforms **Choose a selection team** Considering a digital banking platform to be a shift from the traditional banking model or a fintech company, the selection team shall consist of: - The managing director and board of directors - Chief operating officer for allocating resources to organize the new model. - Chief risk and compliance officer for monitoring risk and regulatory compliance as banks are sensitive and should adhere to many rules and regulations. - Head of investments or chief investment officer (sometimes the financial manager) for monitoring risks, returns, and finances for such significant investments. - HR head for working on internal changes associated with bringing a new business unit into a banking structure.  - Business units and account heads, from lending to investments to savings, must be consulted on the viability of the digital banking platform against the current business model. **Negotiation** Negotiating the purchase of software involves a structured three-step process: - **Preparation:** Begin by outlining requirements for the top three software vendors and detailing software specifications. This initial step allows vendors to offer cost estimates for the entire product, often called the first offer. - **Bargaining:** Every software implementation needs bargaining based on additional features and facilities from the vendor for the setup process and post-software product sale. - **Closing:** After discussions with vendors regarding features, workflows, and best practices, the vendor presents the final offer. The buyer's decision is based on a comprehensive evaluation of the top three vendors, considering pricing, vendor reputation, size, and capabilities, especially if a long-term partnership is sought. This structured negotiation approach ensures a well-informed and strategic decision in acquiring software products, optimizing the potential for a successful and mutually beneficial partnership. **Final decision** The buyer will utilize the digital banking platform as a crucial instrument and cornerstone of day-to-day business operations. Therefore, the managing director with the board of directors, along with the rest of the selection team mentioned above, will make the final decision while considering the reviews, recommendations, and suggestions of the platform's alpha and beta testers, who are quite often the bank's customers and employees. ### How to Implement Digital Banking Platforms The successful implementation of the best digital banking platforms requires a seamless transition and effective integration into current systems. It involves the following steps: #### Needs assessment Begin by comprehensively analyzing current banking processes to identify specific needs. This involves evaluating existing operations and pinpointing inefficiencies that a digital system could address. Clearly define the objectives and expected outcomes of the implementation to align the platform with business goals. #### Platform selection Carefully select a digital banking platform by [comparing vendors](https://www.g2.com/compare) based on critical factors such as user interface, scalability for growth, and security features. Make sure the platform complies with all relevant industry regulations and involves key stakeholders to gain insights and approval across departments. #### Implementation planning Develop a detailed implementation strategy with a realistic timeline and resource allocation plan. Collaborate closely with the chosen vendor to set up the necessary infrastructure and ensure integration with existing systems. Customization may be required to tailor the platform to specific institutional needs and iterations. #### Testing Conduct in-depth testing to verify the platform's functionality, security, and reliability before full deployment. This includes performing system testing to check the operations of all features, security checks to safeguard against vulnerabilities, and user acceptance testing (UAT) to obtain feedback from end-users. #### Training and education Implement a robust training program for employees to familiarize them with new digital tools and processes. This may include workshops, manuals, and online resources. Simultaneously, communicate effectively with customers through multiple channels to inform them of new features and how these changes enhance their banking experience. #### Support and feedback Establish comprehensive support mechanisms to assist users when issues arise, ensuring quick resolution and minimal disruption. Implement a feedback loop to gather user input, refining the digital banking experience continuously. ### **Digital Banking Trends** - **Artificial intelligence and machine learning:** Banks are implementing [AI](https://www.g2.com/articles/what-is-artificial-intelligence) and [ML](https://www.g2.com/articles/machine-learning) to enhance customer experiences by providing personalized services, predictive analytics, and [AI chatbots](https://www.g2.com/categories/ai-chatbots) for customer support. These technologies also enable efficiency in decision-making processes, helping banks offer tailored solutions to meet diverse needs. - **Open banking and API integration:** [Open banking](https://learn.g2.com/open-banking) allows third-party developers to build applications and services around a financial institution's data. Through API integration, banks can seamlessly connect with fintech solutions, broaden their services, and provide enhanced online experiences. - **Mobile-first banking solutions:** Banks prioritize mobile-first strategies to provide customers with convenient and comprehensive banking experiences. This includes mobile banking apps with features like mobile payments, account management, and instant notifications, delivering banking services on the go to customers. _Researched and written by_ [_Samarth Bhat_](https://research.g2.com/insights/author/samarth-bhat)