MyBanco

MyBanco is not only a free core banking solution, it is also open source. Having a core banking solution that is open source means that the source code must be of high quality (high enough to pass the standards that are set by government organizations such as ASIC (Australian Securities and Investments Commission) and FDIC. It must also be well documented so that it is easy for all people to look at the code, analyze it and look for bugs and possible loopholes in the source code.