INTRODUCTION

New Core Banking Systems, LLC is a privately held, employee funded company that incorporated in December 2004. The company designs and delivers mission critical software and hardware solutions for community financial institutions. The Company provides comprehensive installation, training and support services to ensure our system increases an institution’s efficiency, product offering, customer service level and profitability. New Core Banking Systems can be found on the web at www.thenewcore.com.

Why build a new core banking application?

When we began this journey, all competitive core banking applications were developed over the past several decades. We have developed Single Source because of the enormous opportunity to revolutionize the management control over banking with a “complete” solution that is 7 x 24 x 365 real-time and utilizes the best of today’s technology.

Historically an institution’s mission critical banking systems have consisted of separate and disparate applications, creating silos of data within an organization that required maintaining, interfacing and integrating each of these unique product sets. Single Source employs a holistic approach by combining traditionally isolated products into one single system, establishing the next generation banking application.

Development Methodology

All development is driven by our community financial institution client base and the Single Source Focus Group of financial institutions. All development for Single Source is performed by New Core Banking Systems associates and owned by New Core Banking Systems. All coding and customer support is performed in the USA.

The design of Single Source capitalizes on the Microsoft .Net / Single Source framework to ensure that new capabilities can be brought to market quickly and efficiently. While other vendors require the purchase of additional modules, servers, databases, and interfaces for future capabilities, Single Source will offer new applications at no additional cost that utilize the current processing platform, menus, hotkeys, and others.

When it comes to new development Single Source has advantages that are almost unfair – a holistic system design, the use of current technology, a single normalized database, and the original development team which utilizes a common framework for all system capabilities. These factors, among others, ensure that Single Source provides the required functionality (at the lowest total cost of ownership) with highest levels of customer support.

Going forward, New Core Banking Systems also supports a process termed “Co-Creation” whereby qualified Single Source financial institution clients can develop applications (system logic) using the Microsoft .NET / Single Source framework to access data. This co-development success will be shared with all Single Source clients, an approach which ensures all clients will continue to have the most innovative solutions with the desired functional capabilities.