MyBanco

Reviewed Application Software: MyBanco
Type: Open source software
Download Link: http://timg.ws/downloads/mybanco/

Review:

MyBanco is a free open source software that help you and your bank to do Core banking, which normallyusually cost thousands of dollars, without having to spend even a cent. It provides a Remote Procedure Call (RPC) protocol that is easy to setup and use within minutes. MyBanco makes you work faster with the support of the installation of all size. With a one computer test system, it is capable of processing around 100 transactions per second, and with a 10 machines test system, it is can process up to 1500 transactions per second. In addition, it integrated the Cross Communication (XBank) which allows to send more messages between banks than any other system in the markets.

Pros:

• Fully free core banking software for not just now, but in the future as well
• Well documented open source software
• High quality source code
• Your data will be safe, because data will never be deleted
• Provides solution to be able scale well with new technology
• Cross Communication (XBank) can transfer the most number of messages between banks
• Every transaction is logged – you always know where the money go

Cons:

• Things can always go wrong with the data (for safety, always back-up)
• Any changes made has to be send to the author

Summary:

Normally, core banking application is very expensive – because it is an important application to use to distribute important information between banks to banks or from a branch to another branch. However, this seems to be a very reliable application because of its high quality source code that even passes the standard application. Even though, the installation is different from common application, it does provide a guide to install its latest version. Overall, you should give it a try. As for me, it, most definitely, is a must for my future job. Just because it is free, it does not mean that it cannot be as good as the one that cost you money. 

Rating: 4 stars ()