The BrightFit logo and the Sterling National Bank logo on a plum-colored background

For financial institutions (FIs), the idea of migrating core banking systems to the cloud has long been on the horizon. Partnering with the right cloud core provider helps you provide your customers with best-in-class service while maintaining high levels of security and compliance—even with a hybrid-remote working model.

What is Cloud Core Banking?

Core banking is a term used to describe the mission-critical systems that facilitate all banking transactions. When those systems are moved to the cloud, processing happens in the cloud rather than within on-premise computer systems.

Cloud core banking leverages cloud technology to help financial institutions achieve greater capabilities through increased agility, performance, scalability, and significant cost reduction.

Are All Cloud Core Providers the Same?

There are hundreds of cloud services to choose from. But selecting a cloud core provider isn’t always as easy as simply putting a pin on the first one that pops up in a Google search.

On the surface, it might seem like they all offer similar software and service offerings, but it’s critical to dig deeper. Like any business or technology partner you take on, you need to ensure it’s a good fit. For example, enterprise cloud core systems might not be cost-effective for small FIs, and some software as a service providers might not provide the level of personalization, service, and features you need.

The provider you choose should have experience in your niche. They need to understand the compliance requirements and data dependencies that drive your business model. Lastly, they should be capable of providing advanced, highly customizable, scalable services, excellent consumer experience, ease of use, and fast deployment to facilitate a seamless transition.

How Secure is The Cloud?  

One of the most significant barriers to cloud adoption is the perception that the cloud carries more risk. However, today’s cloud core environments are far more secure (and cost-effective) than even the most sophisticated on-prem system can promise.

Cloud computing gives you access to faster, more powerful computing, advanced encryption, and the latest security and compliance tools. Protections are constantly updated to address current threats and regulatory compliance mandates, ensuring your data is safe and secure at rest, in transit, and during processing. Cloud core services are fully managed, reducing IT costs significantly and allowing your technical team to focus on mission-critical functions.

Why BrightFI?

You know you need cloud core services, but why BrightFI?

It’s simple. We get you. We are dedicated to the needs of smaller financial institutions—community banks, credit unions, brokerages, and lending institutions—just like you.

Our company was founded by experts from the banking industry with years of experience implementing digital transformation and technology solutions. We know the challenges you face, and we are singularly equipped to solve them.

It is vital to work with a cloud core provider that understands today’s highly regulated environment and the unique risk and compliance requirements you face, including dependencies on existing data, systems, processes, and third-party vendors. You also want to work with a provider, like BrightFi, that brings the ready-to-reference documentation and process in place to not only deliver best-in-class technologies but the support systems in place that let you implement with more ease and less stress on you and your staff.

Whether you are looking to transform your core systems all at once or integrate with existing systems on the road to a complete transformation, we will help you achieve the value and ROI you’re looking for faster and more reliably than you can imagine. We’ll work with you to help you architect a cloud core banking system that works for your customers as beautifully and reliably as it does for your on-site and remote employees.

Customer expectations are higher than ever. You need to ensure your cloud core provider can support you in every way. BrightFI is one of the most flexible and configurable out-of-the-box cloud core systems on the market today. As our name suggests, we are a brighter way to bank, enabling financial freedom for our customers—and yours.

Request a demo today.