Core banking
A modern core that keeps every account, balance and loan, live.
Customers, products, the loan book, rules and risk, and accounting run as separate modules on one set of data, updated in real time. Run Cowally as your core, or start beside the one you have and move over when you're ready.
Five modules, one set of data
Every channel and every team in the back office works on top of these five modules, so everyone sees the same numbers at the same moment.
Customers
Who each customer is, their identity checks, their products and their history, in one record.
Loan book
Every loan's balance, payment schedule, days late and guarantees.
Products
Every loan, savings and payment product, with its rates, terms, fees and rules.
Rules and risk
Approval rules, credit scoring, limits and provisions.
Accounting
Every movement recorded in the books as it happens, with accruals and the chart of accounts.
Change one part without stopping the rest
Each module can be updated, switched off or replaced on its own. You launch a new product or change a rule without putting at risk what already works, because the modules don't depend on one another's insides. Speed and safety, at the same time.
Update one, keep the rest running
A module is updated while every other module keeps serving customers.
No single point of failure
If one module goes down, the others keep working.
Replace without rebuilding
Swap a module without touching the others.
AI across every module AI
AI works with the data of all five modules, to find patterns and automate routine work.
Products set up, not coded
Every product's rules are settings in the core. Your team sets them up in the back office, a second person approves, and the product goes live, without buying implementation hours.
Rates and interest
The rate and how interest is calculated and paid.
Amounts and terms
The minimum and maximum amount, and the terms you offer.
Payment schedules
Amortization tables and grace periods, set your way.
Fees
What you charge, and when.
Payouts
How the money reaches the customer.
Guarantees and co-signers
What each product requires.
Who qualifies
The approval rules and credit scoring the product uses.
New integrations and regulatory changes still go through technical review.
A path, not a jump
You don't have to switch cores in one risky move. Most institutions get there in three phases, at their own pace.
Alongside
Cowally runs your new products, customer apps and back office, connected to your current core, which keeps the accounts it already holds.
Product by product
Existing products move onto Cowally one at a time, with their data, when it suits you.
As your core
Cowally keeps every account, balance and loan, and your old core can be retired.
Alongside
Cowally runs your new products, customer apps and back office, connected to your current core, which keeps the accounts it already holds.
Product by product
Existing products move onto Cowally one at a time, with their data, when it suits you.
As your core
Cowally keeps every account, balance and loan, and your old core can be retired.
One financial institution is on this path today: 7 new loan products launched beside a 30-year-old core in about 4 months, with the Cowally core already in place and the full move planned.
Starting fresh? Begin at phase 3, with Cowally as your core from day one.
For your architects
IT stays in charge of architecture, integrations and security; the business stops filing a ticket for every product change.
Modular core
Five modules, each updated, switched off or replaced on its own.
Stable, versioned connections
Modules talk through contracts that don't break when one side changes.
Reacts to events
Every movement is published as an event, so other modules and your systems can react to it as it happens.
Documented APIs
Connect your current core, accounting, data platforms and providers.
No single point of failure
If one module goes down, the rest keep running.
Availability
A 99.5% uptime commitment, backups across data centers by default, and multi-region setups on request.
Private connectivity
Private connections to your network, with fixed IP addresses for your access lists.
Monitoring
Every transaction is monitored, with alerts before customers notice a problem.
Your data, your country
Data can stay in your country when your regulation requires it.
Your choice of hosting
Hosted by us, or installed on your own servers.
BIAN-certified leadership
Designed by architects certified in BIAN, the banking industry's open standard for modular design.
Questions about the core
It's a full core banking system. It can also run alongside your current core while you move over, product by product.
No. Move products one at a time, when it suits you, or start fresh with Cowally as your core.
Yes. Existing data can be migrated as products move over.
Yes. Every movement updates balances, the loan book and the books as it happens.
Yes. The accounting module records every movement, with accruals, financial statements and period close.
A first launch can take as little as a month. A full move depends on how much data you migrate and how many products you have.
Either. Hosted by us includes updates (regulatory ones too), monitoring, support and disaster recovery. On your servers, you get licensed modules, documentation and support according to your plan.
Let's map the path from your current core
In one session we'll look at your current core and your products, and map the path that fits you: alongside first, or Cowally as your core from day one.