Most financial service institutions operate their core banking platform on legacy mainframe technologies. The monolithic, proprietary, inflexible architecture creates many challenges for innovation and cost-efficiency. This blog post explores an open, elastic, and scalable solution powered by Apache Kafka that can look to solve these problems. Three cloud-native real-world banking solutions show how transactional and analytical workloads can be built at any scale in real-time for traditional business processes like payments or regulatory reporting and innovative new applications like crypto trading.

What Is Core Banking?

Core banking is a banking service provided by networked bank branches. Customers may access their bank accounts and perform basic transactions from member branch offices or connected software applications like mobile apps. Core banking is often associated with retail banking, and many banks treat retail customers as their core banking customers. On the other hand, wholesale banking is a business conducted between banks. For example, securities trading involves buying and selling stocks, shares, etc.

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