Enhance Core Banking Functionalities With MongoDB

Why MongoDB

Modernization

Success Story

Resources

WHY MONGODB

Enhance core banking functionalities with MongoDB

The core banking system is the engine powering the banking functionalities and services critical to your business. To stay competitive, your core banking system must adapt and innovate faster than ever to capture more market share or even just to retain existing customers.

MongoDB is used by leading core banking system vendors like Temenos, in addition to banks that have decided to build in-house core banking systems for easier innovation and faster performance in this more demanding digital world.

Faster Innovation

The banking landscape is changing – fast. From the move to digital-first banking services to an influx of banking startups entering the space, you must constantly innovate to meet customer expectations and maintain a competitive advantage. With Atlas, your developers benefit from the document data model, APIs for rapid innovation, and a fully managed database.

Flexible Deployment

For global banks, deploying core banking systems across countries with different demands is a complex problem to navigate. One country may permit cloud deployment, while its neighbor may require on-premises deployment. Cluster-to-cluster sync allows banks to deploy core banking systems in hybrid cloud environments, avoiding the concerns of lost data.

Reliable Security

MongoDB offers queryable encryption, allowing banks to keep their data encrypted on the cloud, while still permitting applications to search the encrypted data. This ensures that at no time, even in memory, confidential data is decrypted, avoiding opportunities for parties to access the data unintentionally or on purpose.

Instant Scale

Your core banking system needs to scale as business and regulatory requirements evolve, without slowing performance. MongoDB Atlas automatically scales up when more workload is demanded or scale down as workload demands decrease, optimizing resource usage and costs.

MODERNIZATION

How can MongoDB transform my core banking systems?

If you’re designing a new core banking system, Atlas helps you innovate rapidly and go to market quickly.

If you’re a mature enterprise looking to modernize your core banking system, you can depend on the reliability, security, and flexibility of Atlas as you move to a multi-cloud or modernized on-prem environment.

Self-managed in any environment

The best way to run MongoDB on your own infrastructure, MongoDB Enterprise Advanced combines advanced software, support, certifications, and services. Learn how it can help you accelerate time to value and fully exploit technology for competitive advantage while controlling costs and risks.

Fully managed in the cloud

Move fast with a fully managed, cloud-based MongoDB service. MongoDB Atlas is available in 80+ regions across the top three global cloud providers — AWS, Google Cloud, and Azure.

You can even take advantage of multi-cloud and multi-region deployments, enabling you to use multiple clouds for your application, allowing you to target the providers and regions that best serve your users. With regulators raising cloud concentration concerns with so much financial data on on one or two providers, you can navigate this risk with multi-cloud.

SUCCESS STORY

MongoDB and Temenos: Transforming Core Banking

Processing 100,000 financial transactions a second with a MongoDB response time under 1 millisecond

Temenos is the world's largest financial services application provider, providing banking for more than 1.2 billion people and leading the way in banking software innovation.

Temenos embraced a cloud-first, microservices-based infrastructure built with MongoDB, giving customers flexibility, while also delivering significant performance improvements. This new MongoDB-based infrastructure enables Temenos to rapidly innovate on its customers' behalf, while improving security, performance, and scalability.

Learn more about the Temenos Transact Beckmark →

Temenos Transact optimized with MongoDB

RESOURCES

Core banking resources

Looking to learn more about what MongoDB can do for your core banking systems? Take a look at the below resources to find out more.

From Core Banking to Componentized Banking: Temenos Transact Benchmark with MongoDB

Learn how a MongoDB-based infrastructure enables Temenos to rapidly innovate on its customers' behalf, while improving security, performance, and scalability.

Read blog →

Componentized Core Banking: The Next Generation of Composable Banking Processes Built Upon MongoDB

Thanks to the progress of software design and the emergence of better data infrastructure based on JSON, the next-generation of composable core banking processes is here, and it’s built on a paradigm of a developer data platform.

Learn More →

Open Banking: Future-Proof Your Bank in a World of Changing Data and API Standards

From PSD2 to BIAN, headless to cloud-native, watch this panel discussion with analysts and tech innovators to hear how you can best exploit existing Open Banking standards, and future proof yourself against new standards, with flexible data schemas and MACH based architectures.

Watch →

A New Era in Core Banking Data with Temenos and MongoDB

Learn how Temenos and MongoDB are changing the core banking landscape by making it possible to build scalable and flexible applications and application landscapes with lower cost per operation than ever before.

Learn more →

Core Banking Solutions