Unlocking data in Core Banking

Explore how effective data management in core banking drives efficiency, security, and compliance in today’s data-powered financial landscape.

In today’s digital landscape, data has become one of the most valuable assets for any organization. The banking sector, in particular, has undergone a major transformation driven by technological advancements and the integration of data-powered solutions. 

Why data management matters in core banking 

Core banking, the backbone of any financial institution, has evolved to fully embrace the power of data. With the vast volume of data being generated and processed daily, banks must adopt effective data management practices. This includes ensuring data is always accurate, secure, available, and compliant. 

Proper data handling enables banks to make smarter decisions, deliver personalized experiences, and meet growing regulatory demands. 

Unlocking data to other systems 

A vital part of data management is unlocking data to other systems. These could be front-end interfaces for customers or employees, or third-party applications such as CRM tools or collections platforms. 

At Akkuro, we believe access to data should never be a bottleneck. That is why our Core Banking platform offers three flexible ways to unlock and interact with your data: 

#1 Data Events 

Data events allow the platform to notify users or other systems of specific changes. For example, when a loan is created or updated. These events can be used to trigger automated workflows, such as sending approval requests or updating related records. Events can be triggered on almost any data point: loans, personal details, and more. 

#2 API Access 

APIs provide real-time, direct access to the platform’s data. They are ideal for interactive systems that require instant updates or responses. Whether integrating with external tools or building internal dashboards, APIs offer the flexibility and precision developers need.