Digital Banking Platform

Swiss AMF AG is positioning SAMFCore as a digital banking platform for fintech companies, licensed financial-services businesses and other organizations seeking to bring customer onboarding, accounts, payments, cards, digital assets, compliance and administration into a common software environment.

The customer-facing application is only one part of digital banking. Behind it, financial-services businesses need technology capable of coordinating identity verification, account management, money movement, cards, transaction monitoring, compliance workflows, reporting, administrative permissions and integrations with external financial providers.

SAMFCore is designed to provide that broader technology foundation.

Rather than requiring a separate operating system for every financial product, SAMFCore brings major financial-services functions together within a configurable digital banking software architecture.

Digital Banking Starts With Customer Onboarding

A digital financial relationship begins before a customer has access to an account.

SAMFCore supports registration and onboarding for both personal and business customers.

Personal customers can proceed through KYC identity-verification workflows, while business customers can complete KYB onboarding processes covering company information, ownership structures, ultimate beneficial owners and supporting documentation.

Administrative users can review customer profiles, approve or reject applications, adjust risk levels and route profiles through additional review procedures where required.

Connecting customer onboarding to the broader digital banking platform helps bring the customer journey and the operational review process into the same technology environment.

Accounts and Balances in One Customer Environment

Once a customer is onboarded, the platform needs to organize the financial products available to that customer.

SAMFCore supports an account environment incorporating bank accounts, currencies, cards and digital assets.

Customers can review balances and financial activity through a common interface rather than relying on completely separate applications for different products.

SAMFCore also supports bank-account and IBAN workflows together with currency deposits and withdrawal processing.

For financial-services companies evaluating banking software, this ability to connect the customer account with other financial functions can be more important than any single isolated feature.

Payments and Transaction Management

Money movement is central to most digital financial products.

SAMFCore includes transaction infrastructure covering supported deposits, withdrawals, card activity and exchange transactions.

Customers can review transaction histories, while administrative users can review financial activity and apply operational or compliance procedures where necessary.

External banking and payment providers remain deployment-specific.

This allows SAMFCore to provide the software and integration environment while the financial-services business retains flexibility over the banking and payment providers appropriate to its commercial, technical and regulatory requirements.

Physical and Virtual Card Workflows

Cards can also operate within the wider SAMFCore environment.

The platform supports physical and virtual card workflows including ordering, activation, PIN and ePIN management, freezing and unfreezing, and card balance top-ups.

External card infrastructure can involve the issuer, processor, BIN sponsor or other providers selected for the deployment.

By connecting card functionality with accounts, transactions and administrative controls, businesses can incorporate card products into the broader digital banking platform instead of treating them as an entirely separate technology environment.

Digital Assets Alongside Traditional Currency

Digital financial services increasingly extend beyond conventional fiat-only products.

SAMFCore supports digital-asset accounts alongside currency accounts within the broader customer environment.

The platform also supports exchange workflows between currency and cryptocurrency accounts, including market and limit exchange functionality.

This allows businesses developing crypto-enabled financial products to bring fiat and digital assets into a common customer and administrative environment.

For companies evaluating digital banking software with digital-asset functionality, this can reduce the need to maintain completely separate fiat and cryptocurrency technology stacks.

Compliance Integrated With Digital Banking

Digital delivery does not remove the operational requirements associated with financial compliance.

Customer onboarding, account activity and transactions may all need to be reviewed according to the policies and regulatory requirements applicable to the financial-services business.

SAMFCore supports KYC and KYB workflows, customer risk levels, document management, administrative profile review and AML transaction controls.

External verification and screening providers can be connected according to the requirements of each deployment.

Transactions requiring further attention can be routed through review processes, while customer profiles can be subjected to additional approval procedures where appropriate.

By connecting these functions with the wider platform, compliance activity can remain closely associated with the customer and transaction information being reviewed.

The Back Office Behind the Digital Banking Experience

A digital banking platform must also support the employees operating the financial business.

Customer-facing functionality is only one part of the system.

Administrative teams may need to manage customer profiles, financial activity, documents, compliance reviews, fees, permissions, platform configuration, reporting and audit information.

SAMFCore provides a dedicated administrative environment with role-based access controls and operational workflows.

Reporting and analytical functionality provides additional visibility into platform activity.

For companies comparing banking software platforms, the administrative environment can therefore be just as important as the customer interface.

White-Label Digital Banking

SAMFCore also supports white-label tenant functionality.

This can allow financial groups, fintech companies and other operators to structure multiple branded customer experiences through a common underlying platform architecture.

The applicable legal and regulatory structure still depends on the entity providing the services and the external providers involved.

From a technology perspective, however, white-label functionality can reduce the need to deploy an entirely separate financial-services platform for every brand.

This makes SAMFCore relevant to businesses considering white-label fintech, digital banking or multi-brand financial-services models without reducing the broader platform to a white-label product alone.

Customer-Selected External Providers

A modern digital banking platform does not need to force every customer into one external provider ecosystem.

Depending on the deployment, a financial-services business may require external:

• banks;
• payment providers;
• card issuers;
• card processors;
• BIN sponsors;
• KYC and KYB providers;
• AML and sanctions-screening providers;
• digital-asset custody providers;
• liquidity sources;
• exchanges;
• blockchain infrastructure.
  

SAMFCore is designed so that external services and integrations can be configured according to the requirements of the individual deployment.

This allows the financial-services business to retain flexibility over its provider relationships while using SAMFCore as the underlying software and integration environment.

Annual and Perpetual Digital Banking Software Licensing

The way banking software is licensed can materially affect the long-term control and economics of a financial-services business.

SAMFCore is available through annual and perpetual licensing models.

The applicable perpetual option provides continuing usage rights to the licensed deployment under the licence terms rather than requiring indefinite recurring SAMFCore software licensing merely to retain access to the platform.

A full-source-code option is also available with the applicable perpetual licence.

For qualifying deployments, source-code access can allow the customer to inspect, modify, develop and maintain its licensed deployment using its own technical team or appointed third-party developers.

Customer-controlled deployment models can also provide greater control over infrastructure, hosting and future technical development.

What Businesses Should Evaluate in a Digital Banking Platform

Companies comparing digital banking technology should look beyond the appearance of the customer application.

Important questions include whether the software can support personal and business onboarding, bank-account and IBAN workflows, payments, cards, digital assets, compliance operations and back-office administration.

Businesses should also consider whether they can choose their own external providers, support multiple brands, control their infrastructure and obtain a licensing structure appropriate to their long-term strategy.

The technology behind a financial business can become long-term infrastructure.

For that reason, the selection of a digital banking platform can affect not only the customer experience, but also operating flexibility, provider dependence, development control and future expansion.

SAMFCore is designed for financial-services and fintech companies seeking a broader software foundation across customer-facing financial products and the operational systems behind them.

Companies can request a SAMFCore sandbox demonstration to review the customer platform, administrative environment and supported workflows.

More information is available at SAMFCore.com.

Contact Information

Mike Hightower

Editor in Chief

Newsline Press

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