The Best Cloud-Based Core Banking Providers: A 2026 Guide for Financial Institutions
The shift toward cloud-based infrastructure has moved from experimental to mainstream across the financial sector. Banks and fintech companies are increasingly replacing legacy systems that cannot meet modern expectations for scale, resilience, and real-time digital access. By 2025, cloud-based core banking represents more than 32% of new deployments, and the trend is accelerating as institutions embrace flexible architecture, predictable operating costs, and faster product delivery. At the same time, the rise of the SaaS banking platform model has opened new pathways for launching financial products without the long timelines associated with traditional development.
What Is Cloud-Based Core Banking?
Cloud-based core banking refers to the operation of a financial institution’s core system in a cloud environment rather than on-premise hardware. These platforms are designed for real-time processing, horizontal scaling, high availability, and API-driven connectivity. They allow institutions to introduce updates more frequently, extend capacity as demand grows, and integrate easily with third-party services. For many, adopting a SaaS banking solution helps reduce operational complexity while improving delivery speed.
The Purpose of Cloud Core Banking Providers
Cloud core banking providers supply the infrastructure that enables institutions to launch, operate, and scale financial services without needing to engineer every component internally. Their systems manage account data, ledger operations, payment flows, compliance activities, and integrations with external networks such as card issuers, payment gateways, and identity services. By offering these capabilities through a SaaS delivery model, providers allow internal teams to focus on product innovation rather than infrastructure management.
Leading Cloud-Based Core Banking Providers 2026
Below is an overview of the SaaS-oriented platforms shaping the cloud banking ecosystem in 2026, with SDK.finance at the forefront.
SDK.finance
SDK.finance is a leading SaaS banking platform provider for institutions aiming to launch or modernise financial products quickly. Operating since 2013, the company offers a modular, secure Platform certified to PCI DSS Level 1 and ISO 27001:2022. Its architecture supports real-time processing, multi-region deployment, and deep configurability, making it suitable for banks, PSPs, and fintech teams building digital-first services. Unlike many SaaS cores, SDK.finance also offers a source code licence, giving institutions full ownership of the technology stack while retaining the option of a SaaS banking solution for rapid rollout.
The Platform includes more than 60 functional modules, a configurable back office, and white-label mobile apps for iOS and Android. SDK.finance has been recognised at the PayTech Awards and Banking Tech Awards for excellence in core banking technology and supports organisations across the United States, Europe, MENA, Africa, and North America.
Typical use cases include:
- Cloud-based neobank solutions
- Multi-currency digital wallets
- Crypto-to-fiat and fiat-to-crypto wallets
- Real-time payment processing engines
- Merchant acquiring and payout services
- Closed-loop wallets for marketplaces and corporate ecosystems
Mambu
Mambu is one of the most widely referenced SaaS-native core banking platforms. Its composable architecture enables institutions to build financial products from modular components. Mambu is often selected by neobanks, digital lenders, and fintech companies that prioritise rapid go-live timelines and clean integration patterns. As a SaaS banking platform, it offers a predictable operating model with minimal infrastructure maintenance.
Thought Machine Vault
Thought Machine’s Vault platform is cloud-native and built around a smart contract-based product engine. This design allows financial institutions to configure products programmatically with considerable flexibility. Vault is delivered as a managed cloud service and is increasingly chosen by large banks and digital challengers looking for customisable architecture.
10x Banking
10x Banking focuses on large-scale transformation initiatives within incumbent banks. Its cloud-native architecture supports high-volume transaction processing and real-time data availability. For institutions planning multi-year core migration programmes, 10x is often shortlisted due to its architectural depth and scalability.
Finxact (a Fiserv company)
Finxact provides a cloud-native, event-driven core banking platform designed for digital banks and fintech-led propositions. Its strong API design and open data model make it well-suited for initiatives that require deep integration with external systems. Finxact is particularly prominent in the North American market.
Unit
Unit provides a SaaS-based core tailored for embedded finance use cases. It enables companies to launch accounts, cards, payments, and compliance workflows through a BaaS model. While more specialised than a universal core platform, Unit is widely recognised as a fast path for brands integrating financial features into existing digital products.
Comparison of Leading SaaS Banking Providers
| Provider | Cloud-native | Delivery Model | Market Focus | Key Strength |
| SDK.finance | Yes | SaaS or Source Code | Banks, PSPs, embedded finance | Fast deployment, modular architecture, high performance, white-label mobile banking apps for end users |
| Mambu | Yes | SaaS | Neobanks, lenders | Composable architecture |
| Thought Machine | Yes | SaaS | Digital banks, large institutions | Smart contract engine |
| 10x Banking | Yes | SaaS | Incumbent banks | Designed for large-scale transformation |
| Finxact | Yes | SaaS | Digital banking | Event-driven architecture |
| Unit | Yes | SaaS | Embedded finance | Rapid delivery of banking features |
A Changing Landscape
Cloud-based core banking is entering a more mature stage as institutions standardise on cloud technologies rather than testing them in isolated pilots. The need for agility, predictable cost structures, and reliable scaling continues to push banks and fintechs toward SaaS-based infrastructures. Among the modern offerings, SDK.finance stands out for combining the speed of a SaaS deployment with the option to own and customise the full source code – a combination that offers both short-term efficiency and long-term strategic flexibility.
