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Through generations of financial technology innovation, core banking systems have remained the beating heart of banking operations. From early mainframe-led batch processing to today’s cloud-native, API-driven platforms, core banking systems have continually evolved to unify digital channels, enable real-time banking services, and enhance operational efficiency.
For nearly 50 years, Ultradata has helped shape this evolution for Australia’s and parts of Asia-Pacific financial services sectors.
"Historically, the sector has been dominated by Ultradata solutions, who are investing in and evolving their platform."
This longstanding track record has been made possible by the UniVerse platform and our ongoing partnership with its current custodian, Rocket Software.
Now, as financial institutions look to the future, the core banking platform of tomorrow is poised to power hyper-personalised, intelligent banking experiences. As we look ahead, we highlight the building blocks of effective core banking modernisation: The key pillars of Ultracs, and our collaboration with Rocket Software that makes it all possible.
Ultradata's financial technology solutions have been built using the UniVerse database management system.
The UniVerse platform delivers fast and efficient data storage and processing capabilities for the Ultracs core banking system. Ongoing enhancements over the years have enabled Ultradata to continually strengthen security, reliability, and performance.
For example, the database’s capability to encrypt data aligns with Payment Card Industry Data Security Standard's (PCI DSS) requirements for protecting credit card numbers. Additionally, enhanced secondary index capabilities allow database queries to execute significantly faster.
Rocket Software’s integration technologies have been a key component of the Ultracs architecture for many years. Enhancements - often developed with input from Ultradata - have improved the reliability and performance of integration between Ultradata’s client-facing applications (such as the Ultracs App) and the core banking system.
Today, the vast majority of core banking system activity is driven by the integration of external applications. Rocket Software’s integration technologies serve as the critical link that enables these interactions, ensuring seamless, high-performance data exchange across the financial technology ecosystem.
Since Rocket Software acquired UniVerse in 2009, the joint focus with Ultradata has been on future-proofing the Ultracs Core Banking System.
UniVerse now forms part of Rocket’s MultiValue (MV) Application Platform - a modern suite combining traditional database robustness with the flexibility and speed required by today’s applications. Its integrated architecture reduces the need for complex IT management, lowers the total cost of ownership and development, and accelerates deployment, positioning financial institutions to meet the demands of rapid change head-on.
Today’s financial technology landscape is characterised by an increasing emphasis on fraud prevention, data security and regulatory compliance.
Alloy’s 2025 Fraud Report highlights the growing threat of fraud to financial institutions, with 60% reporting an increase in fraud in 2024. To combat increasing fraud threats, core banking systems must be resilient, and backed by a robust security posture.
KPMG’s 2025 Global Banking Scam Survey, 60% of financial institutions believe that a secure core banking system is effective in blocking fraud attempts targeting their institution.
Data security trends are also transforming financial services, with cyber threats on the rise. IBM’s 2024 “Cost of a Data Breach” report reveals that the average cost of a data breach in the financial sector has surged to $5.9 million, underscoring the need for advanced security protocols.
Increasingly complex regulatory compliance remains a top priority, for global financial institutions. Thomson Reuters “Cost of Compliance” report found that managing compliance and the associated costs are a key and are a growing challenge for organisations.
As regulatory demands grow more complex, many organisations are struggling to dedicate sufficient resources to compliance. This underscores the need for streamlined, automated solutions within core banking systems to support real-time monitoring and cost efficiency.
So, how do core banking systems remain resilient in the face of these challenges? The same way they always have.
Throughout Ultradata’s history, the success of our Ultracs core banking platform is defined by 4 key pillars:
Security without performance is frustrating. Reliability without manageability becomes costly. The Ultracs core banking platform delivers a balance of all four creating an integrated, stable, and high-performing environment for modern banking.
Collaborating with Rocket Software has been ensuring a solid foundation for innovation. Through years of evolution in financial technology, these pillars have governed Ultradata’s continuous core banking modernisation. They also serve as the launchpad for future advancements.
Enhancements to the Ultracs product offering is driven by evolving demands from financial institutions, their customers, regulators, and Ultradata’s own innovations in digital banking services.
Ultradata maintains frequent and ongoing engagement with Rocket Software to drive enhancements that benefit both Ultradata and its clients. This collaboration spans software development, application architecture, deployment models, and operational efficiencies.
One such collaboration has been the introduction of the Recoverable File System (RFS). An innovation driven by Ultradata, the RFS provides the ability for the Ultracs database to be fully restored following an unexpected outage, mitigating risk and ensuring the core banking system’s database remains intact.
The combination of Ultracs and UniVerse equips clients to scale efficiently while maintaining operational resilience. With the flexibility of UniVerse’s MultiValue architecture, Ultradata’s clients can future-proof their core banking systems, ensuring they remain adaptable.
Powered by UniVerse and Rocket Software, Ultradata’s Ultracs core banking software offers financial institutions a proven platform built on decades of success, and engineered for the challenges of tomorrow.