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Sopra Banking Software Launches AI-Enabled Core Banking System

banking technology

Sopra Banking Software (SBS) has launched its artificial intelligence (AI)-enabled core banking system, the SBP Core Platform.

The cloud-native platform harnesses the power of cloud technologies and artificial intelligence, the global FinTech company said in a Tuesday (Oct. 10) press release.

The SBP Core Platform features an open architecture, high scalability and integrated AI capabilities, Eric Bierry, CEO at Sopra Banking Software, said in the release.

“Delivered in Software-as-a-Service, it offers cost efficiency, the highest level of security and seamless product updates, ensuring our customers can access our latest innovations without lengthy migration projects,” Bierry said.

Designed to support a wide range of banking services, including deposits, payments, lending, compliance and regulatory reporting, the SBP Core Platform seamlessly integrates with Sopra Banking Software’s Digital Engagement Platform, according to the press release. This integration not only provides a cost-effective solution but also enables rapid time-to-market for banks seeking an end-to-end banking platform.

Michel De Bolle, chief product officer at Sopra Banking Software, said in the release: “A few years ago, we pioneered the introduction of a component-based core banking platform. Today, we aspire to be at the forefront of integrating AI into essential banking systems. This is not a future vision; it’s our current reality.”

The SBP Core Platform comes with a pre-configured Model Bank, allowing customers to quickly adopt the solution and benefit from lower total cost of ownership (TCO), according to the press release. The platform’s cloud-native development and runtime environment, tailored to the financial services industry, ensures high availability and security.

Sopra Banking Software has more than 1,500 financial institutions and large-scale lenders in 80 countries as trusted partners, the release said.

In another recent development in this space, Visa said in June that it plans to acquire core banking platform Pismo so that it can provide more solutions to its customers and expand the geographic footprint of Pismo. With the planned acquisition, Visa will be able to provide its clients with core banking and issuer processing capabilities via cloud native application programming interfaces (APIs).

Visa will also be able to give financial institution clients support and connectivity for emerging payment rails, including Pix in Brazil.