VSoft Leads Core Banking Modernization with API-First, Cloud-Ready Solutions for Real-Time Transactions

VSoft Corporation is leading a new era of innovation in core banking by introducing API-first, real-time solutions for banks and credit unions. This transformation is crucial as many financial institutions still depend on outdated core systems that can hinder their ability to adapt and thrive in a rapidly evolving market. Based in Atlanta, VSoft has been a reliable technology solutions provider for almost three decades. Under the leadership of Abhishek Veeraghanta, the company is dedicated to offering cutting-edge core and digital banking solutions. Veeraghanta, known for his visionary approach in the fintech sector, recently launched Pidgin, an early adopter of the FedNow Service, which enables real-time payments. His appointment underscores VSoft's commitment to driving innovation and providing next-generation solutions to financial institutions around the world. Many financial institutions still operate with legacy core systems that are over 40 years old, running on mainframe hardware and coded with outdated programming languages. These systems are not only costly and time-consuming to maintain but also inflexible, making it difficult to introduce new products or services. According to Oliver Wyman, approximately 5% of banks are planning to migrate to a new core system within the next two years, highlighting the growing urgency for modernization. The future of financial services will be built on platforms that prioritize integration and connectivity. Modern financial institutions need more than just updated systems; they require platforms that allow for true extensibility, enabling them to quickly add new features and meet customer demands. VSoft addresses this need with solutions like Wings, a cloud-ready core platform designed for seamless integration and superior performance in both deposit and lending operations. Wings is built with the following key features: - API-First Design: Facilitates easy integration with existing and new business systems. - Real-Time Processing: Ensures immediate updates and transactions, enhancing customer satisfaction. - Scalability: Supports growth and high transaction volumes without sacrificing performance. - Advanced Technology Stack: Utilizes modern, efficient technologies to reduce maintenance costs and improve flexibility. Veeraghanta emphasized, "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. With our cloud-ready solutions, financial institutions can remain agile, adopt emerging technologies, and deliver the uninterrupted, high-performance banking experiences their customers expect." While VSoft is renowned for its payment processing solutions, it remains deeply committed to this area. The company partners with some of the largest financial institutions in the nation, processing 1.5 million checks daily. Despite the rise of digital payments, checks still account for more than 20% of total payment value in the U.S., underscoring the ongoing importance of traditional payment methods. Additionally, VSoft’s digital banking platform, Arya, is being used by over 30 banks and credit unions, demonstrating robust growth and widespread adoption. VSoft Corporation is dedicated to delivering state-of-the-art core and digital banking solutions that cater to the needs of modern financial services. By adopting an API-first approach, VSoft ensures that its platforms can seamlessly integrate with complex business systems and support the adoption of next-generation technologies. The company’s focus on real-time processing and scalability provides financial institutions with the tools they need to handle high volumes of transactions efficiently and effectively. VSoft's robust integration capabilities and commitment to innovation help financial institutions worldwide deliver seamless, high-performing transactions across multiple channels. For more information about VSoft's solutions and their impact on the financial services industry, visit www.vsoftcorp.com.