Top 5 ERP Software for Banking Industry

Top 5 ERP Software for Banking Industry

You'll find many ERP software companies that provide customized ERP systems for your business. However, if budget is not a problem or you are still skeptical about choosing one, you can consider trying one from the below lists:

Oracle Netsuite

Oracle Netsuite software is most widely used in the banking sector. This software comes with a low starting price of below 100$. Therefore, most mid-range financial companies heavily rely on this low-budget software system.

Oracle Netsuite also offers a premium version to maintain top-tier financial companies. Thereby, the use of this software undoubtedly comes with complete service for low-level to high-level financial corporations.

Moreover, it is designed according to modern companies' modules, which generally seek cloud services and mobile optimizable application software. Plus, Oracle Netsuite comes with customizable options to achieve better user interaction.

Best features of Oracle Netsuite Software

• upports multiple devices
• Easy-to-use interface
• Automated business intelligence setup

LeaseWave Suite

LeeaseWave is designed to maintain a complete transactional circle of loans, leases, and mortgages of financial companies. Users will have automatic alarms set up of their due and debited amounts by listing in this software.

Also, an impressive dashboard accessing manual helps the administrative panel to keep track of up-to-date transactions.

Leasewave also offers front-end and back-end functionalities to create essential integration between potential parties. This software makes the loan process easier for all parties. It is quite helpful for vendors, brokers, and funding resources.

Overall Leasewave software is complete support for the administrative panel and the loan holders.

Best Features of LeaseWave Suite Software

• Automated purchase order creating a system
• Customizable front-end and back-end
• nstant transaction results

CoBIS Microfinance Software

This software nicely manages micro banking and SACCO operations. It can effectively complete multiple business operations with one integrated system. This software works pretty well for both users and the admin panel. Moreover, it swiftly runs microservices for users, including daily savings, term deposits, and shares listings.

Notably, it has a smart mobile application setup for maintaining users' microtransactions.

Best Features of CoBIS Microfinance Software

• Easily optimizable and accessible
• Collects real-time data
• Client OS web system

EBANQ

EBANQ is a smart e-application solution for midrange financial industries. It is a mobile banking software that is designed for e-payment. Especially for the banking sector, the EBANQ application software allows interaction between users and the administrative panel.

The software is most popular for easy functionalities. Moreover, banking administration frequently uses this application due to the E-payment system. Hence, root-level users love this application only for the easy user interface module. The security system of this software makes it worth using.

Best Features of EBANQ Application Software

• Optimizable E-payment module
• High-security
• Android, Windows, Web, and iOS supported

Cashbook ERMSoftware

Cashbook is a cash management automation software. It is popular due to its versatile functionalities. This software keeps a record of cash in, cash out, and balance statement instantly.

Plus, it comes with multicurrency, multi-site, and multi-lingual features. Therefore, Cashbook software has huge popularity in the banking sector.

Moreover, it helps distribute daily tasks in different departments, bringing more efficiency to financial industries. Mostly, banks get complete support from this ERM software management system.

The incorporation of this magnificent software reduces the operational time of business processes. Plus, it keeps the transactions properly on daily notes. Overall, the cashbook ERM application software is beneficial for any financial business.

Best Features of Cashbook ERM Software

• Built-in artificial intelligence functionality
• Real-time data on a dashboard
• Versatile functionality

PrismERP—Top ERP software for Banking in Bangladesh

PrismERP is a leading cloud-based ERP software with essential support for the banking industry. From financial management to accounting systems, this one software comes with all the benefits. It can help banks or financial institutions solve financial obstacles, gaining more control over cost management.

Best features of PrismERP

• Analyze business performance
• Branch account system
• Well secured

Things to Consider While Choosing a Banking ERP Software

Let's see the must-have criteria of ERP software for doing well in the banking industry.

Multifunctional

The most prior consideration of ERP software is the multiple function supportability. Firstly, ERP software must be multi-lingual, which will help connect with different communities. Then the software must have the capability to support multicurrency and e-transections. In that way, customers will have more benefits.

Easily Optimizable and Usable

The software's accessibility must be easy to establish a connection with customers. Subsequently, the bank will have a deep connection with the root level of people. Otherwise, a difficult accessible system negatively impacts the client's eyes.

To manage the high configured system, you require the support of a technical team. That increases business costs. On the other hand, easy software customization needs less technical person's incorporation.

Real-time Data Processing and Intelligence Support

The best functionality of ERP software is providing business insights by analyzing real-time data. By recording real-time data, ERP software offers up-to-date reports. Plus, artificial intelligence helps to set up plans and estimates. Those criteria should be on top when choosing an ERP for banks.

Conclusion

Apart from the 5 ERP software listed above, other ERPs are available that can meet the business needs. You can also avail yourself of a customized ERP system considering all your demands.

As modern banking is no more an analog system, it requires assistance from smart ERP software to fulfill users' and admins' demands.

FAQs

Here are the answers to some of the questions we frequently get.

Which ERP is Used by Banks?

Oracle EBS and SAP ERP software dominate the banking sector by utmost popularity. However, if you want a more customizable option, you can definitely go for one.

What is the difference between Oracle and SAP?

SAP manufactured software has an efficient event management system for true insights. On the other hand, Oracle saves business costs with a better tracking system.

Is ERP Software Good for Banks?

Yes, it increases the transaction efficiency and minimizes project processing duration. Therefore, ERP is the best solution for the modern-day banking sector.