Core Banking Operations

What is core banking ?

Core banking can be defined as a back-end system that processes banking transactions across the various branches of a bank. The system essentially includes deposit, loan and credit processing. Among the integral core banking services are floating new accounts, servicing loans, calculating interests, processing deposits and withdrawals, and customer relationship management activities. Core banking systems are aimed at empowering existing and probable customers to have a greater freedom of their account transactions. With technological evolutions, transactions are now safer, faster and less cumbersome. The fact that these transactions can be executed remotely, from any part of the world has made core banking systems a significant aspect of banking these days. Core banking always brings down operational costs considerably, ensuring lesser manpower requirement for execution. It also enables greater accountability of the customers. Software application based platforms make core banking systems user-friendly and more efficient. The benefits of core banking systems are multi-faceted – keeping pace with fast-evolving market, simplifying banking processes and making it more convenient for the customers, and expanding the outreach of the banks to remote places.

Why Core banking Solution(CBS)

Features

  • Scalable, proven capability for handling large transaction volumes
  • Multi-tiered modular architecture ported on wide range of platforms/application servers
  • User defined customer-wise demographic and geographic data
  • Seamless development and rapid deployment of new products
  • Multi-level comprehensive security with role based access privilege

Benefits

  • Parameterized application, enabling you to respond quickly, easily to market changes
  • Supports multi-deployment modes – centralized and distributed
  • Helps to centralize operations and transaction information, automate core processes, and streamline advanced banking functions
  • Ensures real-time, efficient customer service and a variety of interactive, integrated Web services
  • Supports end-to-end business banking products

Functional Modules

Customer Information

Deposits

Loans

Collecting and Clearing

Foreign Exchange

Remittances

Budget

Inventory

General Ledger

Fixed Asset Management

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