5 features of banking software

Mariann Harrison

5 features of banking software

5 cutting-edge features of banking software that boost the bank’s lending processes

Years have passed, and we have plenty of technology with us that could enable full digitalization of banking processes, including back-office operations. However, many processes still rely heavily on email boxes or manual note-taking within financial institutions.

The main reason for this is that these processes are genuinely complex, spanning multiple departments and varying across different segments and product types. Mapping these processes into systems and providing software support can be a costly affair, and without proper scalability, it becomes a costly endeavor.

5 Features of Banking Software

To address this issue, we have taken
significant steps forward in the following areas:

To address this issue, we have taken significant steps forward in the following areas:

1.           User-Friendly Drag and Drop Editor: Where the software enables users to easily design and customize their screens, workflows, and rules. With this intuitive feature, users can visually create and modify their banking applications without the need for extensive coding knowledge or technical expertise. It empowers users to tailor the software to their specific requirements quickly and efficiently.

2.           Low Code Development: Cost Reduction through software products leverage low code development methodologies, allowing banks and financial institutions to significantly reduce their development costs. By utilizing pre-built components and visual development tools, developers can streamline the application development process, saving time and resources. This approach enables organizations to deliver banking solutions faster while maintaining cost-effectiveness.

3.           Workflow-Based Automation: The software enables users to automate complex banking processes and tasks through a graphical workflow designer. Users can define and configure workflows, approvals, notifications, and business rules according to their specific requirements. This feature improves efficiency, reduces manual errors, and enhances overall productivity within banking operations.

4.           Rule engine: Capable of efficiently managing business-related calculations of diverse complexities within a centralized platform. To expedite maintenance processes and automate essential business logic in banking operations such as pre-screening, scoring, monitoring, collection, and more, the solution is equipped with user-friendly features. Built-in rule engines enable the users to modify the business logic and test it even in bulk mode.

5.           AI in lending: There is no efficient software tool with AI capabilities. We digitize everything, we have data, and we must use them. AI tools are capable to run regression functions or even neural network-based calculations in order to support effective business decisions.

With a host of these powerful features, ApPello brings convenience, security, and intelligence to your financial journey like never before.

ApPello Digital Platform: ApPello Lending solutions are built on the ApPello Digital Platform, a comprehensive solution that combines the user-friendly drag-and-drop interface, the strengths of low code development, workflow automation, and extended rule/decision engine, supported with AI on cloud-based infrastructure. This platform provides a unified environment for creating, deploying, and managing banking applications. With the ApPello Digital Platform, banks, and financial institutions can rapidly innovate digital processes while taking advantage of the scalability and reliability offered by cloud-based infrastructure.

Learn more about ApPello Loan Origination Systems:

Unsecured Retail Loan Origination System

Mortgage Loan Origination System

Corporate/SME Loan Origination System