Core banking simplifed
Build, deploy, and scale banking products effortlessly with
our no-code, scalable, and secure Smart Contract Core
Banking solution.
Smart Contract Core Banking
What are smart contracts?
Smart Contracts are self-executing codes that are run on blockchain technology. They enable users to define and automate business processes by executing the terms of the contract when specific criteria are met. At the core of our technology, smart contracts enable product owners to define and automate business processes with precision and efficiency. We use intuitive no-code methodology to eliminate the need for complex coding, empowering clients to build and deploy banking products from scratch, with operational efficiency and unprecedented speed.
What makes HiLo different?
No code methodology
Continuous deployment accelerates speed to market
Scalable building block architecture
Hundreds of thousands of different features built-in
Compliant ready for future regulation
Single key security protocols
Multi-country solution
Proprietary visual designer puts clients in control
Core banking redefined
Machine Learning
Further to eliminate the need for complex coding, AI assists with building and deploying Smart Contracts for financial products and services. This enables business owners to change the core banking system as they need.
No database limitation
The database limitations of core banking systems are mitigated by using building blocks. Like many small bricks in a larger wall, new blocks can be easily generated and scaled through an automated process. Unlike a typical domain architecture, the performance of databases in each single building block is also closely monitored and scaled to technical limits.
Speed, scalability, and fexibility
Clients have complete control over the logic that makes up a Smart Contract. This enables flexibility and innovation in design and development without the need for programming knowledge. Many processes can be developed at the same time by different teams, and smart contracts can also be shared between processes and teams so our clients can build large ecosystems of related smart contracts, constantly refining processes and improving both efficiency and the customer experience.
Multi-country solution
Opposite to traditional banking systems, a new instance is not needed for different countries or time zones using smart contracts.
Trust, security, and transparency
Blockchain technology underpins all smart contracts and all data that we store in the customer ledger is secured through data encryption – row by row, per client using their dedicated encryption key.
Our Visual Designer puts clients in complete control of product design and delivery
Build Smart Contracts
Our proprietary ‘Smart Contract Visual Designer’ enables the build of smart contracts. Business analysts are able to build a completely new product, and this smart contract is completely independent from the core of the banking system - meaning clients can create whatever they want. It has transformed the speed and ease at which we can create smart contracts tailored to each BaaS client’s specific requirements.
No development
time required
The Visual Designer lets us take a consultative approach with our clients to help them identify and define the best products for their business - any modifications can be created by business analysts, without the need for developer time and resources.
Continuous
deployment
The nature of the Visual Designer enables continuous deployment, making changes to implemented financial products and services only a matter of a business decision.
Smart Contract-powered Ledger
Each client has their own ledger. Activities are chronologically logged, encrypted with customer-specific keys and linked using blockchain algorithms. In our system, we do not allow data to be changed; this guarantees data integrity and nonrepudiation, bolstering the security and credibility of all recorded actions.
Each client has its own encryption key, which we use to encrypt each row stored in the customer ledger. This ensures utmost security and complete transparency. In this way, using encryption and blockchain algorithms, we can guarantee that everything is kept in a chronological manner.
Since there is a ledger per client, we can build a solution that can easily scale up horizontally.
Building block architecture = easy scalability
With traditional core banking systems, there are limitations related to the database. You can have huge databases stored in the cloud, but banking requires complex transactional databases. To solve this problem we decided to use the concept of building blocks. We actually employ 50,000 databases for our clients. With these very small databases, we can easily manage the performance of the databases because they are not required to push to their technical limits. This allows us to scale up horizontally. Additionally, HiLo is multi-country. It doesn’t matter if a client would like to factor in different time zones because end of day processing is done client by client.
Accounting capabilities
- Fully parameterised and scalable chart of accounts, according to accounting standards
- Fully parameterisation of mappings to reporting lines for Regulatory Reporting
- Fully parameterisation of accounting models for each event of products
- Fully integrated online bookings in the general ledger within the HiLo System
- Multi accounting standard in general ledgers (GAAP, IFRS, others)
- Multi-currency ledger
- Online and end-of-day balance sheet reports are included in every accounting standard
- Standardised accounting interfaces for uploading data from other systems, with reference to external IDs
- Period code concept of bookings with the possibility of post-closing correction bookings
- Automatic end of year bookings
Get in touch to schedule a demo of our Platform in action.
- See the full suite of financial services you can offer
- Learn how Banking-as-a-Service can support your business
- Learn what a Banking-as-a-Service project looks like
