Aura Cloud provides a cloud-native core banking platform that enables financial institutions to launch digital products and services within 12 to 16 weeks, significantly reducing time to market. The platform enhances operational efficiency with a transaction processing rate exceeding 99.5% without human intervention, while minimizing IT costs to less than 5% of income.
Funding
$820K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional core banking systems are often monolithic, inflexible, and expensive to maintain, hindering financial institutions' ability to rapidly launch new digital products and services. This inflexibility results in long development cycles, high IT costs, and a delayed time to market for innovative offerings.
Solution
Aura Cloud provides a cloud-native core banking platform designed to enable financial institutions to quickly deploy digital financial products and services. The platform offers agility, allowing institutions to launch new offerings in weeks rather than months. By automating transaction processing and minimizing the need for manual intervention, Aura Cloud enhances operational efficiency. The SaaS infrastructure reduces IT licensing and resource requirements, leading to significant cost savings.
Target Audience
Aura Cloud targets financial institutions seeking to modernize their core banking infrastructure, launch digital products quickly, and reduce IT costs, including banks, credit unions, and fintech companies.
Features
- Rapid deployment of financial services, enabling greenfield customers to go live in 12-16 weeks
- High straight-through processing (STP) rate, exceeding 99.5% of transactions processed without manual intervention
- Flexible loan and credit offerings with integrated data analysis for improved decision-making
- Full-suite card issuing and payment processing capabilities
- Support for various account types, including current, savings, and term deposit accounts, as well as single IBAN multi-currency accounts
- SaaS infrastructure minimizing IT licenses and resource requirements