For many Rural Banks when choosing a banking system, having physical servers in their branches or head office is a cumbersome burden. This reality brings quite a few headaches with it, from the need to constantly support the remote locations by the bank’s IT team (today extremely difficult due to COVID-19 lockdowns), to extensive staff training and finally, the biggest pain of us all – substantial spending through both direct and indirect hidden costs.
Every single Rural Bank in the Philippines is being forced to find ways to cut costs in these challenging times for business.
A Rural Bank can have their hardware systems:
- On-premise in all of their branches, and a central system physically in the HQ
- Leased/hosted completely on Amazon AWS or similar providers
- Provided in the cloud by their trusted Core Banking System provider (all costs included in the price of the Service)
Want to get a full comparison on these three systems and see where and how to save money when making a choice for a new CBS?