Our Story

Once upon a time

I’ve always been keen to get my hands dirty when it comes to software engineering. Admittedly, there has been a period where my job role was pushing me in another direction. But when I started meddling with code again in 2011, I started to realise that there are so many commonalities between core banking – something I had more than 15 years of experience in – and e-commerce – something I was discovering at the time. In both cases you need to manage customers, set up products, make payments, etc. So why not build a framework that would be able to provide core functionality to both?

There are of course a number of what I would call ‘technical’ frameworks but I was looking for more of a ‘business’ framework, something that would focus more on business components, workflows, tasks, etc. Something that would be simple for people to use. Something that would be flexible enough for other developers to build on whilst still being easy to maintain. Something that would embed tools to easily deploy the solution and that could be installed in-house or provided as a cloud solution.

There wasn’t really anything like that available… 

Naqoda Low-Code Framework is born

So I pulled together a team and we started to put together the pieces of the Naqoda Low-Code Development Platform aka the Naqoda Framework. The framework progressed well and we managed to use it for the development of the Naqoda Tax Engine, a withholding tax calculation and reporting solution for banks. Later on when we got involved in building an online reservation system, once again we managed to reuse the same framework.

A new challenge

We’re now in the Summer of 2015, four year later and a question has always been there at the back of my head. Would it be possible to use the framework to build a core banking solution? Or would that just be such an impossible and immense task? Well if the framework is any good, it shouldn’t really be an issue, right? Especially if we were to focus on purely the core and integrate with other solutions when it comes to payments, accounting and regulatory reporting. And of course building everything would probably be quite an immense task, framework or not. So why not open things up a bit and combine a framework, core banking business components and a community of keen users and give it a shot?

Naqoda Banking Platform is here

Well we’re happy to present Naqoda Banking Platform, a core banking solution with a twist. It’s built on a robust framework, has loads of business components, a forms and workflow editor to map your business processes. It’s fully extensible whilst easy to maintain. It is offered as a cloud solution or you can install it in-house. A community of partners and users and a market place is being built.

I hope you enjoy it!

Erik Bogaerts



Prior to founding Naqoda, Erik acted as a Director and Partner at Callatay & Wouters (now Sopra Banking), a supplier of core banking software. With over 20 years of experience in information technology and the banking industry, he has realised a consistent and successful track record in the management of large scale and complex banking IT implementation projects for international clients, as well as the launch of business development activities at a number of overseas locations across Asia and Europe. As a managing director at Naqoda he supervises day-to-day operations with a focus on software development and support services.