Vendors can pay for more visibility on this website, for example a higher place in a ranking or more room on a page. Commercial relationships can also affect which products we feature and how prominently. Every vendor link is marked the same, whatever the arrangement behind it. The largest vendors in core banking software
cannot hold places 1 to 3. Places 1 to 3 go to challengers, vendors outside the best-known brands in a category,
wherever the category has them; the established names follow from place 4 in their ranked order. How it works: placement disclosure ·
editorial process.
The 11 tools, reviewed
#1 Mambu
Dutch composable SaaS core for lenders and neobanks · Netherlands · mambu.com
Composable SaaS Lending
Mambu splits its platform into Mambu Core for deposits and lending, Mambu Payments for payment flows, and an AI layer called Mambu Agentic. Lending is cut by product type, and Islamic financing such as Murabahah and Qard Hassan has its own modules. A lender can launch one product and add the next later.
- Pricing: Quote only. Quote only; the website points visitors to a demo request. Free plan: none.
- Best for: Lenders and neobanks building in modules
- Strengths: Mambu Core; Mambu Payments; Consumer and business lending.
Where it falls short
Mambu publishes no prices, no hosting region and no list of sub-processors. The imprint names Mambu B.V. in Amsterdam but does not say which group company signs customer contracts.
Wrong for
A bank that must run its ledger in its own data centre should look at Temenos.
Visit Mambu →
#2 Skaleet
French modular core on EU-based private cloud · France · skaleet.com
EU hosting Modular Event-driven
Skaleet offers three starting points: a greenfield launch, a move from a BaaS provider to its own SaaS core, and a legacy migration. Modules for accounts, cards, payments, loans, savings and process automation are switched on one at a time on an event-driven, API-centric base.
- Pricing: Quote only. Quote only; no price list on the website. Free plan: none.
- Best for: Banks wanting an EU-hosted SaaS core
- Strengths: Accounts and cards; Payments; Loans and savings.
Where it falls short
Skaleet shows no price, shows no legal notice on its own website, and lists fewer reference customers than the established vendors. The legal entity had to be found in the French company register.
Wrong for
A bank that insists on installing the core in its own data centre should look elsewhere.
Visit Skaleet →
#3 Thought Machine
London cloud-native core ledger with a payments product · United Kingdom · thoughtmachine.net
Cloud-native Configurable Ledger
Thought Machine, founded in London in 2014, sells Vault Core as a real-time ledger and Vault Payments for orchestration and card processing. Products are written in a configuration layer, and the vendor says its code is never forked per customer. It describes three availability zones with automated failover and no scheduled maintenance windows. Lloyds Banking Group is named as the first tier 1 client, from 2016.
- Pricing: Quote only. Quote only; demo on request. Free plan: none.
- Best for: Banks ready for a core replacement programme
- Strengths: Vault Core ledger; Vault Payments; Product configuration layer.
Where it falls short
Thought Machine publishes no price and no uptime reports, so its availability statements stay vendor claims. The platform is described only as cloud-native, which leaves a bank with an on-premises requirement guessing.
Wrong for
A very small lender without a delivery team should consider SDK.finance or Vodeno. A bank that needs the core inside its own data centre should ask early or choose Temenos.
Visit Thought Machine →
#4 Temenos
Swiss core, digital, payments and wealth suite · Switzerland · temenos.com
Suite On-premises SaaS
Temenos states that more than 950 banks use its Core Banking and that it has 52 offices in 36 countries. Its portfolio covers core, digital, payments and wealth, with editions for credit unions, community banks and Islamic banking. Of the eleven vendors here, it is the one that explicitly offers on-premises installation, cloud deployment and Temenos SaaS.
- Pricing: Quote only. Quote only; delivery partners often add cost. Free plan: none.
- Best for: Banks wanting deployment choice
- Strengths: Core banking; Digital banking; Payments.
Where it falls short
Temenos publishes no price. Projects usually involve delivery partners, which adds a second party to the contract plus cost and lead time.
Wrong for
A young lender that wants only lending and deposits should look at Mambu or Skaleet.
Visit Temenos →
#5 10x Banking
London SaaS core for banks, mutuals and lenders · United Kingdom · 10xbanking.com
SaaS Mutuals AI migration
10x Banking calls its product a fourth-generation core and publishes a practical guide to buying one. Three AI functions are listed: AI Build turns a plain-English description into product configuration, AI Learn answers questions from live data, and AI Migrate maps legacy data onto the platform. Case studies include Chase UK, West Brom Building Society and Westpac.
- Pricing: Quote only. Quote only; demo on request. Free plan: none.
- Best for: Mutuals replacing a legacy core
- Strengths: SaaS core banking; Retail and mutual banking; Corporate banking.
Where it falls short
10x Banking states 100 million accounts, 99.99 percent uptime and more than 10,000 transactions per second, but links no audit. No price or hosting region appears on the site.
Wrong for
A bank that needs on-premises installation is outside the SaaS model and should compare Temenos.
Visit 10x Banking →
#6 SDK.finance
Lithuanian ledger and wallet platform with public pricing · Lithuania · sdk.finance
Public price Source code Fintech
SDK.finance sells a transaction platform and a standalone general ledger that turns business events into double-entry journal entries. Its price page lists the SaaS tariff, with back office and apps included, and an enterprise route gives a source-code licence that can run on-premises or in the cloud. The site names PCI DSS Level 1 Service Provider and ISO 27001:2022.
- Pricing: Monthly plus per transaction. SaaS at EUR 10,000 flat for the first three months, then EUR 5,500 per month plus EUR 0.05 per transaction; source-code licence on request. Free plan: none.
- Best for: Fintechs, EMIs and small banks
- Strengths: General ledger; Transaction platform; Digital wallets.
Where it falls short
SDK.finance is a payments and wallet platform that can act as a core, not a universal bank core with decades of history. TechFin UAB states it is not a bank or payment institution, so the client must supply the licence.
Wrong for
A large bank replacing a legacy core with many product lines should compare Temenos or Thought Machine.
Visit SDK.finance →
#7 Crosskey
Finnish modular transactional banking platform · Finland · crosskey.fi
Nordic Modular Payments
Crosskey connects onboarding, customer data, accounts, payments, credit origination and loan servicing on one transactional platform, and banks can deploy each capability alone. Lending carries configurable risk rules and scoring models, and the customer module includes AML and KYC. Cards, wealth and a Swift service bureau sit in the same group. The company says it implements, operates and develops with its clients.
- Pricing: Quote only. Quote only; no price list on the website. Free plan: none.
- Best for: Nordic banks wanting a partner-run core
- Strengths: Transactional Banking Platform; Payments; Customer and deposit.
Where it falls short
Crosskey publishes no price and no technical documentation, which makes a first technical comparison harder than with Mambu. The site does not say whether on-premises installation is offered. Its wording is Nordic throughout, so reference depth in other regions is unknown.
Wrong for
A bank outside the Nordics that wants public API documentation before talking to sales should start with Mambu or SDK.finance.
Visit Crosskey →
#8 Engine by Starling
Pre-integrated core, portal and SDKs from a live UK bank · United Kingdom · enginebystarling.com
Digital bank UK Pre-integrated
Engine says its platform has run Starling Bank since 2016 and cites Starling's 2025 annual report, with 6.2 million group accounts and 79 percent active customers. It packages core products, a management portal for operations and mobile SDKs for the customer app, so a new bank gets pieces other cores leave to third parties.
- Pricing: Quote only. Quote only; contact the team. Free plan: none.
- Best for: New digital banks and sidecar launches
- Strengths: Core banking products; Management portal; Mobile SDKs.
Where it falls short
Engine publishes no price and no hosting region, and its strongest proof is Starling itself, which is also a consumer bank competing for customers. Independent references are fewer. The site shows no self-hosting option, and Starling's separate UK banking-as-a-service team is a different offer.
Wrong for
A bank that does not want a vendor owned by a competing consumer bank should compare Thought Machine or 10x Banking.
Visit Engine by Starling →
#9 Vodeno
Polish banking-as-a-service platform with smart-contract core · Poland · vodeno.com
BaaS Licence access Poland
Vodeno combines a cloud-native platform with access to a full banking licence through its partnership with Aion Bank. Its HiLo core uses smart contracts, which the vendor describes as self-executing code on blockchain technology, and product owners design products in a no-code visual tool. Services around the core include onboarding, IBAN accounts, lending, FX, cards and outsourced monitoring and reporting.
- Pricing: Quote only. Quote only; no price list on the website. Free plan: none.
- Best for: Firms launching banking products without a licence
- Strengths: HiLo smart-contract core; No-code product design; European IBAN accounts.
Where it falls short
Parts of the Vodeno website looked out of date when reviewed: the footer showed 2024 and the home page held placeholder text. No price is published.
Wrong for
A bank that wants to operate under its own licence should look at Thought Machine or Skaleet.
Visit Vodeno →
#10 ERI OLYMPIC Banking System
Swiss front-to-back platform for private banks and custodians · Switzerland · olympicbankingsystem.com
Private banking Custody Swiss
ERI says about 400 banks and financial institutions in more than 60 countries have used OLYMPIC over 30 years. The platform runs from CRM and onboarding to portfolio management, advisory, custody and fund administration, alongside savings and loans. SaaS and cloud delivery are described, built for ISO 20022 with real-time straight-through processing.
- Pricing: Quote only. Quote only; no price list on the website. Free plan: none.
- Best for: Private banks, custodians, fund administrators
- Strengths: Core banking; Client onboarding; Loan management.
Where it falls short
ERI publishes no price and no hosting regions. Its group has separate legal entities in several countries, so the signing company needs confirming. The heritage is private banking and custody, so a retail neobank is not its main target, and self-hosting is not stated.
Wrong for
A consumer neobank or a lender focused on loans should look at Mambu or Skaleet.
Visit ERI OLYMPIC Banking System →
#11 Avaloq
Swiss integrated platform for wealth managers and private banks · Switzerland · avaloq.com
Wealth Private banking Operations service
Avaloq says it runs a bank's whole banking and wealth business on one cloud-based platform, from channels and investment management to trading, lending, payments, treasury and risk. It also sells Banking Operations as a business process service and an academy, so a bank can hand over operations as well as buy a licence. A partnership with Aladdin by BlackRock is listed.
- Pricing: Quote only. Quote only; no price list on the website. Free plan: none.
- Best for: Wealth managers wanting one platform
- Strengths: Digital channels; Client management; Investment management.
Where it falls short
Avaloq publishes no price, ownership or founding year on the pages reviewed, and its hosting regions are not stated. The weight is wealth management, so a retail-only lender gets less from it.
Wrong for
A retail lender or a fintech should look at Mambu or Crosskey.
Visit Avaloq →
Questions and answers
What is the best core banking software in 2026?
Mambu ranks first of 11, best for lenders and neobanks building in modules. Skaleet is second (banks wanting an EU-hosted SaaS core) and Thought Machine third (banks ready for a core replacement programme). Places 1 to 3 go to challengers, vendors outside the best-known brands, wherever the category has them.
Which core banking vendors are based in the EU?
Five of the eleven vendors contract from inside the EU: Mambu B.V. in Amsterdam, SKALEET in Boulogne-Billancourt, Crosskey in Mariehamn, TechFin UAB (SDK.finance) in Vilnius and Vodeno in Warsaw.
Does any core banking vendor publish its price?
Only SDK.finance does. It lists a SaaS tariff of EUR 10,000 flat for the first three months, then EUR 5,500 per month plus EUR 0.05 per transaction, with back office and apps included.
Which core banking software can run on-premises?
Temenos states that banks use its core on-premises, in the cloud or as SaaS. SDK.finance allows on-premises or cloud under its source-code licence. Mambu, Skaleet and 10x Banking are SaaS products, and Thought Machine is described as cloud-native.
What is the cheapest way to start with a core banking system?
SDK.finance has the lowest published entry point, EUR 10,000 for the first three months and then EUR 5,500 a month plus EUR 0.05 per transaction. It suits fintechs, e-money firms and small banks.
Which core banking vendors suit a private bank or wealth manager?
Avaloq and ERI OLYMPIC are the two built around private banking. Avaloq covers investment management, trading, lending, payments and treasury, and offers operations as a service.
Is there a core banking vendor for building societies and mutuals?
10x Banking has a dedicated page for customer-owned banks, mutuals and building societies, and lists West Brom Building Society among its case studies.
How long does a core banking migration take?
Only Skaleet states a figure: four to six months depending on the use case, and four to five months for a move from BaaS to SaaS. Thought Machine publishes no fixed timelines and says it avoids big-bang deployments.
Can a bank get a banking licence through a core vendor?
Vodeno is the one vendor here that offers access to a full banking licence, through its partnership with Aion Bank, which is how it serves regulated and non-regulated entities.
Is Thought Machine better than Mambu?
They solve different problems. Thought Machine is a real-time ledger plus payments product for banks replacing a core, with products held in a configuration layer. Mambu is a composable SaaS core assembled by product type, suited to lenders and neobanks.
What should a bank check before choosing a non-EU core vendor?
Check which legal entity signs, where the ledger and backups are hosted, and which courts govern the contract. Avaloq names Swiss law with Zurich courts in its terms, and Temenos names an Irish EU representative.
