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Mozrt’s Answer to Archaic Banking Core Systems

Updated: Nov 16, 2023

Core banking is stuck in the past. Mozrt has seen far too many financial institutions and fintechs stuck under the thumb of slow, dated systems that fail time and time again to meet the needs of modern businesses and clients.

A banking core is the back-end system that handles daily banking transactions, updates accounts, and manages financial records. It includes deposit, loan, and credit processing, interfaces with general ledger systems, and provides reporting tools. A banking core is a non-negotiable component of any financial institution or fintech that is looking to offer an alternative to traditional banking opinions.

Traditional core banking options are rigid, slow, fragile, and often wildly expensive. Smaller community banks and credit unions have been forced to rely on archaic systems for years, enduring delays, outages, and red tape every step of the way. These legacy systems are outdated, difficult to use, and–frankly–unacceptable in today’s digital landscape.

Meanwhile, fintechs have struggled with complex integration, lacking automation, poor user experience, limited customization, and high-cost, low-speed options that simply can’t move at the pace tech-forward companies need.

Introducing OnCore For Financial Institutions

OnCore is Mozrt’s core solution and our answer to the challenges surrounding core banking. A system that offers an essential alternative to the way it’s always been.

OnCore is optimized for domestic and international payments. It offers direct access to global payment networks, handles various payment types, manages virtual accounts, supports multi-currency transactions, provides card issuing and alternative payment methods, and integrates with regulatory technology (regtech) providers. It enables seamless digital onboarding, KYC/KYB workflows, AML transaction screening, and API integrations. Perfect for banks seeking modern capabilities without changing personnel or back-office procedures, this solution is high-tech, high-speed, and high-capacity.

Our system is built to be highly flexible and modern, supporting a wide range of APIs and enabling real-time updates through webhooks. This allows Mozrt’s clients and their users to integrate swiftly, completing the process in a matter of days rather than the traditional timelines of weeks, months, or even years. OnCore ensures that all transactions and interactions occur in real time, providing a dynamic embedded banking experience.

OnCore can function as a high-power sidecar for banks ready to attract new, tech-forward clientele and better serve their current tech-savvy clients within their existing ecosystems. It also brings forth readily available service and 24/7 processing that can act as a backup to the existing core for contingency planning. Or, Mozrt’s core solution can become your central payments core, bringing modern, lightweight, and well-designed APIs with thoughtful architecture and consideration of banking process needs.

OnCore For FinTechs

For fintechs, Mozrt’s OnCore serves as the ultimate core solution, aligning with your rapid pace. Integration with OnCore unlocks a wide array of benefits: direct access to global payment networks for diverse transactions, including FX payments in 130+ currencies and real-time payments. It offers comprehensive account options, virtual and multi-currency account management, merchant services, card issuance, and digital onboarding with KYC/KYB workflows. The platform ensures seamless API integration with regtech providers, backed by configurable notifications and webhooks. With high availability, backup services, and 24/7 support, OnCore empowers fintechs with reliability and efficiency in one package.

OnCore represents the present and the future of banking and technology. If you want to leverage OnCore and step into the modern era of financial services, we want to hear from you.


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