What should the CTO of a neobank know when choosing a Core Banking platform?
Platform Architecture:
- Does the platform support a microservices architecture for flexibility and scalability?
- What technology stacks and databases are used?
- Are there capabilities for integration with third-party services?
Security and Compliance:
- What security mechanisms are implemented in the platform?
- Does the platform comply with international and local regulatory requirements (e.g., GDPR, PCI DSS)?
Scalability and high availability:
- How does the platform ensure high availability and handle high transaction volumes?
- Is it possible to automatically scale resources?
Functionality and expansion possibilities:
- What basic banking functions are supported (lending, deposits, payments, etc.)?
- Are there ready-made APIs for developing your own products and services?
Cost-effectiveness:
- What is the pricing model (one-time fee, per transaction, monthly or annual subscription)?
- What are the implementation and support costs?
Support and training:
- What are the terms of technical support and SLA (Service Level Agreement)?
- Are training and certification materials provided for developers?
Customer feedback and use cases:
- Is it possible to get feedback from existing customers of the platform?
- Are there any public use cases of the platform in the industry?
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Maksym Popov
