Asseco PST's Core Banking Platform moves to the Cloud

The Cloud continues to revolutionize the digital economy and the financial sector is no exception.

Asseco PST specializes in developing banking software, has a customer base of over 70 financial institutions across various geographies, and now provides its Core Banking platform in the Cloud environment.

Asseco PST's Core Banking System (CBS) is the solution designed to support all the critical business processes of banks, from retail to corporate banking, including financial markets and payments. In essence, Core Banking ensures the end-to-end management of a Financial Institution, the implementation of banking products and services, and the supporting systems to the bank itself and the report to external entities.

Asseco PST first launched the GoToCloud (G2C) initiative to assess the feasibility of moving business-critical applications such as core and internet banking from on-premises data centers to the cloud. Now, the company has successfully completed the installation of its core banking application, Banka, on the Microsoft Azure cloud, and is extending its offer to banks that wish to operate in a cloud environment, benefiting from the high availability, scalability, and performance of cloud computing resources. All without the need to invest in hardware acquisition and management.

Cost saving benefits

"The installation of our Banka platform in Azure cloud is in line with the strategy defined for the evolution of our products", says Daniel Araújo, CEO of Asseco PST, who adds: "With this evolution, we enable the offer of core banking in an 'as a Service' model, with all the infrastructure management, operation and continuous application update assured by the company".

This process is fully automated and integrated with the development of all other software upgrade processes the bank uses in its operations, ensuring that all system upgrades are immediate. It also contributes to cost reduction, as there is no need for initial investment such as hardware purchases or equipment maintenance contracts.

The Banka platform's open architecture allows banks to choose the best configuration for their particular case and even choose the cloud provider that best fits their needs. We already have an example of a Portuguese Financial Institution, a core Banka customer, installing their system on IBM Cloud.

Modular and flexible solution

solution that allows banks to implement financial products and services in a modular and flexible manner. All business processes supported by specific CBS modules and adapted to the different markets, in which Asseco PST operates , have common components such as centralized customer catalogs, product catalogs, and pricing.

In addition to these common components, there is a whole set of shared processes such as high availability, user and approval management, and document and image management that ensure consistency, flexibility, and security for CBS.

“We remain committed to our goal of continuing to invest and bet on the future of our applications to provide our customers with solutions that meet current and future challenges. Likewise, we reinforce our commitment to a solution that adapts to banks of any size and that is prepared to operate in any environment, whether in the cloud or on local servers," concludes Daniel Araújo.

Integrated into the multinational Asseco Group, one of Europe's largest software providers, Asseco PST (Portuguese Speaking Territories) is present in eight markets on three continents. In addition to the main center located in Portugal, it has subsidiaries in Angola and Mozambique operating, also, in Cape Verde, São Tomé and Príncipe, East Timor, Malta, and Namibia. It currently has a team of over 500 employees, having closed the 2021 fiscal year with a turnover of over 39 million euros.