A new core platform entirely based in the cloud goes to Silicon Valley after being conceived and tested in Eastern Europe.
Corezoid, the new cloud service, aims to standardize business operations for banks by digitally integrating and commoditizing individual systems.
Alexander Vityaz, head of Corezoid and research and development at Ukraine's PrivatBank, said, "Right now, each bank has an IT department inefficiently reinventing the same bank-specific solutions. With Corezoid, banks can instead use ready-made processes … simply by connecting the APIs they need. That's the promise that cloud banking has to offer."
Read more at the American Banker.