Banking Systems

What Banking Systems does

Banking.Systems is a privately held IT firm founded in 2005 and headquartered in the World Trade Center, Panama City, Panama. The company develops and licenses modular online banking software — primarily the NexorONE® platform and the Bansoft® Core Cloud Banking System — to financial institutions including online and private banks, credit unions, savings and loans, eWallets, trusts and asset management companies, and payment platforms. As of the input data, the platforms are deployed across more than 300 financial institutions in over 40 countries across 4 continents and support 16 languages with native multi-currency and multi-region capabilities.

The underlying technology is a modular, RESTful API-driven architecture (50+ API methods) with pre-built compliance modules covering KYC, AML, OFAC, and FATCA, international payment connectivity (SWIFT, SEPA, IBAN), and a broad integration ecosystem spanning 50+ third-party providers across payments, compliance, fraud, identity, and infrastructure. The company generates revenue primarily through one-time/perpetual software licensing of the core NexorONE package (starting at $15,500 with 24-hour deployment), recurring modular add-on subscriptions, integration and implementation professional services, and technology escrow arrangements with Praxis. Customer acquisition is sales-led and direct, targeting enterprise financial institutions globally with multilingual website support (20 languages) and analyst recognition from Forrester (2020) and Celent.

The business is operationally lean, with reported headcount of 1-10 employees, no disclosed institutional funding, and founder/CEO-led management (Remy Swaab). Strategic activity in 2020-2024 has emphasized compliance stack expansion (MetaMap, Ondato, Ocean Systems), Open Banking positioning (PaymentComponents aplonAPI), and cross-border payment integrations (TransferWise/Wise, Revolut, ECSFin, IBAN.com).

Name

Banking Systems

Legal name

Banking.Systems

Website

https://banking.systems

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Banking.Systems is a privately held Panama-based software vendor founded in 2005 that licenses the NexorONE and Bansoft modular online banking platforms to 300+ financial institutions across 40+ countries, with core KYC/AML compliance, multi-currency support, and 50+ third-party integrations.

Ownership category

akta.pro rank

Product category

Core Banking Software

NAICS

Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

akta.pro secondary industries

Digital Banking & Neobank Platforms (BPAMAFAD), Neobank Core Platform (Retail/SME Digital Bank) (FSAGAAAA), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Online banking software
• Core banking platform
• Cloud banking system
• Banking SaaS solutions
• Financial institution software

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Software Licensing (NexorONE Core Package): Core package starting at $15,500 for a fully operational online banking platform. This is a one-time or recurring software licensing fee for the core banking platform.
2. Modular Add-on Features: Additional modules and features can be added to the modular platform as financial institutions scale, providing expansion revenue.
3. Integration and Implementation Services: Integration services with third-party providers (payment platforms, card issuers, compliance services) and implementation support.
4. Technology Escrow Services: Escrow account services through Praxis for technology escrow, including account set-up, agreement drafting, and annual maintenance fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Banking Systems develops and delivers modular online banking software through its flagship platform NexorONE and the Bansoft Core Cloud Banking System. The platforms provide financial institutions with multi-currency, multi-lingual account management, transaction processing, KYC/AML compliance, international payments (SWIFT/SEPA/IBAN), card issuing and management, and a RESTful API library for third-party integration. Core package deployment is delivered within 24 hours, with modular add-ons enabling expansion without service interruption.

Differentiator

Problem solved

Functional benefit

Brands

• NexorONE®: A modular, scalable online banking software platform serving financial institutions including Online and Private Banks, Credit Unions, Savings and Loans, eWallets, Trusts & Asset Management Companies and Payment Platforms.
• Bansoft®

Products and services

• NexorONE A modular, scalable online banking software platform for financial institutions including Online and Private Banks, Credit Unions, Savings and Loans, eWallets, Trusts and Asset Management Companies, and Payment Platforms. Supports multi-currency, multi-lingual, and multi-region operations with 24-hour deployment and modular feature expansion.
• Bansoft Core Cloud Banking System Core cloud banking system providing compliance, KYC, AML, and fraud prevention solutions for financial institutions. Capable of sending and receiving SWIFT messages directly and integrated with PaymentSafe 2.0.
• Technology Escrow Services Technology escrow services through Praxis that house software source code, database structure, and supporting documentation, allowing customer access to escrow materials if the company ceases operations.

Quantifiable outcome

• Fully operational deployment within 24 hours
• +3 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration45 records

AI capability3 records

Feature10 records

Partnerships

81 partnerships are on record, tiered supporting and core.

• ECSFinsupportingTechnology or Integration · 1 November 2024ECSFin provides IMS Payments transaction processing system that can simplify, manage and control the full breadth of payments, connectivity, integration and messaging. Platform addresses end-to-end processing of payments covering initiation, validation, compliance, intelligent routing and pre/post-payment services.
• IBAN.comsupportingTechnology or Integration · 1 September 2024IBAN.com provides IBAN validation tool integration for international payment verification.
• LiveConnectsupportingTechnology or Integration · 1 June 2024LiveConnect provides support platform integration for customer service capabilities.
• ViaCartesupportingTechnology or Integration · 1 May 2024ViaCarte provides card platform integration for NexorONE, enabling card issuing and management capabilities.
• MetaMapcoreTechnology or Integration · 1 April 2024MetaMap (formerly Mati) provides real-time KYC compliance integration. Founded in 2017 in San Francisco, trusted by 600+ companies worldwide. Platform sources, integrates, and interprets data for global population enabling businesses to yield superior commercial outcomes.
• OndatocoreTechnology or Integration · 1 January 2024Ondato streamlines KYC and AML-related processes with tools including KYB forms, ultimate beneficial ownership structure, remote business information collection, and AML screening in an all-in-one platform.
• ModulrsupportingTechnology or Integration · 1 December 2023Modulr provides API-based payment infrastructure integration for embedded payment capabilities.
• AdvantiosupportingTechnology or Integration · 1 November 2023Advantio provides pentest services to meet highest industry security standards.
• Orca SecuritysupportingTechnology or Integration · 1 October 2023Orca Security provides cloud security evaluation for Banking.Systems platform protection.
• Blackhawk NetworksupportingTechnology or Integration · 1 September 2023Blackhawk Network provides gift cards, eGifts, rewards, incentives, and payment solutions. Integration enables Bansoft to offer gift card management solutions and incentive programs.
• XE.com IncsupportingTechnology or Integration · 1 August 2023XE.com provides currency exchange rate data with 30 years of FX experience. Integration enables real-time, accurate currency exchange data for hundreds of worldwide currencies sourced directly from financial data providers and central banks.
• ionCubesupportingTechnology or Integration · 1 July 2023ionCube provides PHP encoding and protection technology for Banking.Systems source code and intellectual property protection.
• ConserBIsupportingTechnology or Integration · 1 March 2023ConserBI provides BIRisk Platform integration for risk management solutions.
• Processing.Network (TylerTech)supportingTechnology or Integration · 1 February 2023Processing.Network by TylerTech provides processing services integrated with Bansoft platform.
• MoneynetsupportingTechnology or Integration · 1 September 2022Moneynet provides payment platform integration for international payment processing capabilities.
• SonarQubesupportingTechnology or Integration · 1 June 2022SonarQube provides continuous code quality inspection with static analysis to detect bugs, code smells, and security recommendations across multiple programming languages.
• Fraud.netsupportingTechnology or Integration · 1 April 2022Fraud.net provides award-winning fraud-prevention solution that helps users stop losing money to fraud. It's a customizable SaaS tool for automating decisioning with all data from one login.
• FisentsupportingTechnology or Integration · 1 January 2022Fisent provides Fisent Risk platform for quantitative customer risk scoring through an advanced risk engine and management platform. Enables institutions to calculate, manage, and maintain risk scores for compliance with regulatory requirements.
• Ocean SystemscoreTechnology or Integration · 1 November 2021Ocean Systems provides KYC compliance platform integration with Bansoft. Services include OFAC EDD Server for compliance screening, Enhanced Compliance Solution (ECS) for BSA/AML monitoring, and fraud detection. Operating since 1991 with certified vendor status at Federal Reserve Bank.
• VerifosupportingTechnology or Integration · 1 October 2021Verifo provides payment platform integration facilitating cross-border wire transfers, payment collections, and currency exchange services. For international transactions between European countries, Verifo offers SEPA payments.
• VersatecsupportingTechnology or Integration · 1 August 2021Versatec provides card processor integration. As a certified processing company with international franchises operating throughout Central America and Panama, Versatec enables VISA card business development.
• CloudLinuxsupportingTechnology or Integration · 1 June 2021CloudLinux provides security services implementation for platform infrastructure with focus on Linux security, stability, and profitability.
• RevolutcoreTechnology or Integration · 1 April 2021Revolut provides integration facilitating remote access to account services from back office interface. Secure API connectivity allows instantaneous transacting and payments progress logging. Revolut is building the world's first truly global financial superapp.
• TransferWise (Wise)coreTechnology or Integration · 1 March 2021TransferWise provides Wise Platform API integration allowing real-time mid-market exchange rates for any currency route. Dynamic transfers can be scheduled using real-time exchange information. Wise is a global technology company building the best way to move money around the world.
• NexorONE RESTful APIsupportingTechnology or Integration · 1 December 2020RESTful API Web Services Library with expanded API methods for third-party integration capabilities.
• ForrestersupportingTechnology or Integration · 1 August 2020Forrester's 2020 Global Banking Platform Deals report featured Banking.Systems as an Online Banking Software Platform Provider for Puerto Rico IFEs. Banking.Systems acknowledged as key Base and Regional player and FinTech pioneer.
• PaymentComponentscoreStrategic or Co-development Partner · 1 July 2020PaymentComponents partnership enables NexorONE to integrate with PaymentComponents's Open Banking API Management platform aplonAPI. Provides capability for Banks and Financial Institutions to access fully scalable Open Banking technology stack swiftly and safely. Banking.Systems and PaymentComponents are front runners in empowering banks and FIs to navigate new business models and Fintech Ecosystem opportunities.
• CelentsupportingTechnology or Integration · 1 June 2020Banking.Systems listed on Celent as a banking platform vendor, recognized by this analyst firm.
• PaysoftsupportingTechnology or Integration · 1 June 2020Paysoft provides eCheck clearing service integration for check processing capabilities.
• MailChannelsupportingTechnology or Integration · 1 May 2020MailChannel provides SMTP relaying implementation for email delivery optimization.
• LukapaysupportingTechnology or Integration · 1 March 2020Lukapay provides merchant platform integration for payment processing capabilities.
• OnpexsupportingTechnology or Integration · 1 November 2019Onpex provides payment platform integration for international payment capabilities.
• TextelsupportingTechnology or Integration · 1 September 2019Textel provides SMS notification messaging integration for Bansoft. Customizable enterprise solutions lower call volumes, increase net promoter scores, and generate more leads through texting workflows.
• MailgunsupportingTechnology or Integration · 1 July 2019Mailgun provides email service platform integration for transactional and marketing email delivery.
• TwiliosupportingTechnology or Integration · 1 April 2019Twilio provides SMS messaging integration for customer communication capabilities.
• Keesing TechnologiescoreTechnology or Integration · 1 March 2019Keesing Technologies provides ID document checking integration with NexorONE. Their AuthentiScan product authenticates world's identity documents in seconds. Documentchecker database offers up-to-date reference information for identity documents and banknotes from around the world. Helps financial institutions with KYC compliance.
• ModularsupportingTechnology or Integration · 1 February 2019Modular provides digital asset solutions for banking platform integration capabilities.
• PraxiscoreStrategic or Co-development Partner · 1 January 2019Praxis provides technology escrow services for provision and maintenance of scalable escrow account solution. Escrow agreement houses software source code, DB structure, and supporting documentation. Allows customer access to escrow materials if company ceases operations. Banking.Systems reviewed multiple escrow vendors and chose Praxis for its secure, robust platform with flexibility to adapt to specific requirements.
• DynatracesupportingTechnology or Integration · 1 December 2018Dynatrace provides application performance monitoring and management implementation for platform infrastructure.
• Pentest365supportingTechnology or Integration · 1 September 2018Pentest365 provides implementation and channel partnership for security testing and assessment.
• Open Exchange RatessupportingTechnology or Integration · 1 August 2018Open Exchange Rates provides digital currency feed integration for exchange rate data.
• Google AuthenticatorsupportingTechnology or Integration · 1 June 2018Google Authenticator provides two-factor authentication integration for NexorONE. Allows improved user-side security features with TFA available to users and internal staff.
• NominoDatasupportingTechnology or Integration · 1 February 2018NominoData provides risk management solutions integration for fraud prevention and compliance.
• SequrestsupportingTechnology or Integration · 1 January 2018Sequrest is a strategic cyber security integrator partnership. Acts as principal cyber security integrator for Banking.Systems and its clients, enhancing and protecting NexorONE and Bansoft platforms with greater online security features.
• BansoftsupportingTechnology or Integration · 1 November 2017Bansoft deployed Processing.Network (RapidFin) for transaction processing capabilities.
• SwivelSecuresupportingTechnology or Integration · 1 August 2017SwivelSecure provides multi-factor authentication solutions. Financial institutions using NexorONE can benefit from authentication solutions for authenticating users and transactions with advanced and dynamic adaptive authentication.
• PayXpertsupportingTechnology or Integration · 1 June 2017PayXpert provides secure, global, multi-currency payment solutions for merchants. Integration enables companies to accept non-cash payments in traditional and virtual settings with gateway services, IPSP solutions, risk management, chargeback recovery, and prepaid card solutions.
• Bankers ToolboxcoreTechnology or Integration · 1 March 2017Bankers Toolbox provides BAM+ anti-money laundering (AML) and fraud prevention software integration with Bansoft. Solutions include Money Laundering Detection, Data Validation, Automated Risk Rating, SAR Preparation & E-Filing, CTR Automation, Case Management, Enhanced Due Diligence, Negative News and OFAC Sanctions Screening.
• GiactcoreTechnology or Integration · 1 February 2017Giact provides GIACT Verification Services for real-time verification and authentication of bank account and customer data. Integration allows Bansoft users to have data validated in real-time and meet KYC and AML compliance guidelines, including payment risk and fraud prevention solutions.
• SendGridcoreTechnology or Integration · 1 February 2017SendGrid provides cloud-based email platform for customer communication. Integration allows monitoring and control of all emails sent, with secure, scalable infrastructure solving email deliverability issues.
• MailChimpsupportingTechnology or Integration · 1 December 2016MailChimp provides email marketing implementation for customer communication campaigns.
• Payment21supportingTechnology or Integration · 1 October 2016Payment21 provides crypto payments platform integration capabilities for digital currency transactions.
• eComm365supportingTechnology or Integration · 1 August 2016eComm365 provides payment acceptance solutions including e-commerce, Mail Order/Telephone Order (MOTO), and POS devices. Integration enables financial entities to offer cashless point of sale payments.
• WaveCrestcoreTechnology or Integration · 1 June 2016WaveCrest provides full platform integration enabling NexorONE clients to issue and manage prepaid MasterCard and Visa cards. WaveCrest is a regulated e-money issuer and principal member of Mastercard and Visa EU with operations in Gibraltar and Americas.
• IntercashcoreTechnology or Integration · 1 April 2016Intercash provides full card platform integration for NexorONE, including prepaid MasterCard products. Financial entities can access card requesting, funding, balances, transaction history, and status functionalities in real-time.
• CloudflarecoreTechnology or Integration · 1 October 2015Cloudflare partnership provides web performance and security solutions. Banking.Systems is a Cloudflare Certified Partner, delivering their solution to help protect and accelerate customer websites. Once websites join Cloudflare, they load twice as fast and are protected from online threats.
• ClickatellsupportingTechnology or Integration · 1 September 2015Clickatell provides global mobile messaging integration. NexorONE can harness SMS-enabled chatbots to communicate with customers. Clickatell is a pioneer in mobile messaging and B2C communication solutions.
• WorldPaycoreTechnology or Integration · 1 May 2015WorldPay provides payment platform integration enabling companies to accept vast array of payment types across multiple channels, anywhere in the world. WorldPay processes payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies, accepting more than 300 different payment types.
• OlarksupportingTechnology or Integration · 1 September 2014Olark provides live chat software integration. Companies using NexorONE can chat with clients and answer questions in real-time, providing customer service experiences.
• NanorepsupportingTechnology or Integration · 1 August 2014Nanorep provides self-service, virtual assistants, and smart bot solutions for customer service. Integration allows financial entities to provide real-time support to clients with automated customer service using AI capabilities and Natural Language Processing.
• StripecoreTechnology or Integration · 1 May 2014Stripe provides global online payment processing integration. Companies using NexorONE can integrate payment processing securely, rapidly and efficiently. Stripe focuses on providing technical, fraud prevention, and banking infrastructure for online payment systems.
• EastNetscoreTechnology or Integration · 1 April 2014Banking.Systems is an official Channel Partner for EastNets, a leading global provider of compliance, payment and cloud solutions. This partnership provides financial institutions easier access to EastNets services in a fully integrated way. NexorONE is integrated with PaymentSafe 2.0 and Bansoft can send and receive SWIFT messages directly.
• Amazon Web Services (AWS)coreTechnology or Integration · 1 January 2013AWS provides cloud server infrastructure for Banking.Systems. AWS Cloud Servers implementation enables scalable, reliable hosting for the NexorONE and Bansoft platforms.
• XignitesupportingTechnology or Integration · 1 August 2011Xignite provides market data cloud solutions enabling companies to consume, centralize, distribute and optimize access to real-time market and reference data.
• EarthPort DirectsupportingTechnology or Integration · 1 June 2011EarthPort Direct provides payment platform integration for international payment processing.
• WorldchecksupportingTechnology or Integration · 1 March 2011Worldcheck Sentinel provides compliance platform integration for KYC screening and due diligence.
• Payment21supportingTechnology or Integration · 1 October 2010Payment21 provides eCheck clearing platform integration capabilities.
• WorldCompliancesupportingTechnology or Integration · 1 September 2010WorldCompliance provides compliance platform integration for AML screening and due diligence.
• NCC GroupsupportingStrategic or Co-development Partner · 1 June 2010NCC Group provides escrow and security solutions cooperation with over 20 years of experience in software and technology escrow.
• CCS PrepaysupportingTechnology or Integration · 1 April 2010CCS Prepay provides prepaid debit card program consultancy and integration. Partnership gives entities using NexorONE ability to facilitate global debit card solutions.
• GSATisupportingTechnology or Integration · 1 March 2010GSATi collaboration as technology provider for platform infrastructure support.
• Prepaid Financial Services (PFS)coreTechnology or Integration · 1 September 2009PFS provides full card platform integration capability with NexorONE. Integration allows financial entities to access card features including Card Request, Card Funding, Card Balance, Card Transaction History, and Card Status in real-time. PFS is an award-winning payments technology specialist offering e-wallets, physical and virtual prepaid cards, and current accounts.
• RefPay (ArbiterSports)supportingTechnology or Integration · 1 August 2009RefPay provides electronic payment system for sports officials. NexorONE deployed to RefPay allowing leagues and athletic departments to electronically pay officials assigned through ArbiterSports Assigning System.
• EarthPortcoreTechnology or Integration · 1 February 2008EarthPort provides global payments network integration. NexorONE integrated with EarthPort gives clients access to global payment options in over 70 markets and connects with more than 60 local currency clearing systems. EarthPort is regulated by FCA with robust compliance measures.
• Rapid Financial SolutionssupportingTechnology or Integration · 1 August 2006Rapid Financial Solutions provides card platform integration for prepaid card programs.
• CardOnePlussupportingTechnology or Integration · 1 July 2005CardOnePlus provides card platform integration for card issuing capabilities.
• cPanelsupportingTechnology or IntegrationcPanel provides web hosting control panel integration for platform management.
• Zend (Rogue Wave)supportingTechnology or IntegrationZend provides PHP development framework and tools supporting the platform technology stack.
• ZohosupportingTechnology or IntegrationZoho provides project management tools. Zoho Project Management implementation supports operational workflows.
• McAfeesupportingTechnology or IntegrationMcAfee provides security solutions integrated into the platform infrastructure.
• DMCA.comsupportingTechnology or IntegrationDMCA.com provides website content protection for Banking.Systems intellectual property.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Thought Machine: Thought Machine provides a cloud-native core banking engine (Vault) used by global tier-1 banks and challenger banks. It competes with Banking.Systems' Bansoft in the cloud-core segment but at the enterprise end of the market.
• Temenos: Temenos is a global leader in core banking software serving retail, corporate, and digital banks in 150+ countries. It competes directly with Banking.Systems for mid-sized banks and digital banking deployments, though at significantly larger scale and price point.
• Backbase: Backbase is a digital banking platform provider offering engagement banking software for retail, SME, and wealth management. It competes with Banking.Systems on the digital banking front-end layer for traditional banks transitioning online.
• nCino: nCino offers a cloud-based banking platform with core processing, digital account opening, and lending workflows for community and commercial banks. It targets a similar FI segment to Banking.Systems, particularly credit unions and community banks.
• 10x Banking: 10x Banking provides a cloud-native core banking platform serving challenger banks and traditional institutions in the UK, Europe, and Australia. It directly overlaps with Banking.Systems' neobank-focused positioning.
• Mambu: Mambu is a cloud-native core banking platform serving neobanks, traditional banks, and fintechs globally. It is the most direct competitor to Banking.Systems' Bansoft/NexorONE, offering composable core banking APIs with multi-currency support.
• Q2: Q2 provides digital banking solutions for community banks and credit unions, including digital banking platforms and lending solutions. It is highly comparable to Banking.Systems' core online banking offering for credit unions and community FIs.

Broad incumbents

• FIS: FIS (Fidelity National Information Services) is one of the largest FI technology providers globally, offering core processing, digital banking, payments, and capital markets solutions. It competes broadly with Banking.Systems across multiple FI segments at significantly larger scale.
• Finastra: Finastra is a major incumbent providing broad financial services software including core banking, lending, treasury, and capital markets. It overlaps with Banking.Systems in core banking but covers a much wider portfolio of FI use cases.
• Jack Henry & Associates: Jack Henry provides core processing, digital banking, and payment solutions primarily for community banks and credit unions in the US. It is a natural incumbent comparison for Banking.Systems' credit union and community bank target segments.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/BankingSys
• Facebookfacebook.com/banking.systems

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banking Systems