VSoft Ushers In New Era: Modernizing Core Banking with API-First, Real-Time Solutions for Financial Institutions
ATLANTA--(BUSINESS WIRE)-- VSoft Corporation, a trusted provider of technology solutions for nearly three decades, is ushering in a new era of innovation, focused on modernizing core banking with API-first, real-time solutions for banks and credit unions.
"Modernizing core banking systems isn't just a competitive advantage – it's becoming the deciding factor for which financial institutions will thrive in the next era of financial services."
Under the leadership of Abhishek Veeraghanta, President of VSoft, the company is focused on delivering cutting-edge core and digital banking solutions specifically designed for modern financial institutions facing increased pressure to innovate. Veeraghanta, a fintech visionary, brings a wealth of expertise to his expanded role at VSoft. In 2022, he launched Pidgin, an Atlanta-based fintech and FedNow Service early adopter, enabling financial institutions to offer real-time payments to their account holders. Veeraghanta's appointment signals VSoft's commitment to driving innovation and delivering next-generation solutions to financial institutions globally.
Many financial institutions continue to rely on legacy core systems that are 40 years or older, which reside on mainframe hardware coded with outdated programming languages. This technology is difficult, expensive and time-consuming to maintain. It's also rigid and severely limits a financial institution's ability to launch new products or service offerings. As a result, more financial institutions are pursuing core modernization strategies. In fact, Oliver Wyman research estimates that up to 5% of banks are looking to migrate to a new core system in the next two years.
Ultimately, the next generation of financial services will be driven by platforms that embrace integration and connectivity. It's not enough to just modernize; institutions need systems that enable true extensibility, allowing them to add new features and respond quickly to customer expectations.
VSoft is helping financial institutions make this leap with solutions like Wings, a cloud-ready core platform, delivering seamless integration and unmatched performance across both deposit and lending operations.
VSoft's core platform is designed with:
API-first architecture enabling easy third-party integration
Real-time processing capabilities supporting instant payments
Cloud-ready infrastructure ensuring scalability and resilience
Modern technology stack providing a foundation for AI integration
"Modernizing core banking systems isn't just a competitive advantage – it's becoming the deciding factor for which financial institutions will thrive in the next era of financial services," said Veeraghanta. "With our cloud-ready solutions, financial institutions can remain agile, adopt emerging technologies, and deliver the uninterrupted, high-performance banking experiences their customers expect."
Known for its payment processing solutions, VSoft remains committed to its payment solutions. The company is partnered with the nation's largest financial institutions, processing 1.5 million checks per day. Despite an increase in digital, checks represent more than 20 percent of total payment value in the U.S. VSoft also continues to see strong growth of its digital banking platform, Arya, now leveraged by more than 30 banks and credit unions.
About VSoft Corporation
VSoft Corporation delivers cutting-edge core and digital banking solutions tailored for the modern financial services industry. Built with an API-first approach, VSoft's platforms empower financial institutions to integrate seamlessly with complex business systems and adopt next-generation technologies. Designed for real-time processing and scalability, VSoft's solutions are underpinned by a technology stack that is decades newer than those of legacy providers, offering unmatched efficiency and performance. With robust integration capabilities and a commitment to innovation, VSoft supports financial institutions worldwide in delivering seamless, high-volume, and high-performance transactions across multiple channels. For more information, visit www.vsoftcorp.com.
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