Core Banking Solution
What is Core Banking Solution ?
Core Banking Solution (CBS) is networking of branches, which enables Customers to operate their accounts, and avail banking services from any branch of theBank on CBS network, regardless of where he maintains his account. The customer is no more the custo
mer of a Branch. He becomes the Bank’s Customer. Thus
CBS is a step towards enhancing customer convenience through Anywhere and Anytime Banking.
How shall CBS help Customers?
All CBS branches are inter-connected with each other. Therefore, Customers of CBS branches can avail various banking facilities from any other CBS branchlocated any where in the world. These services* are:
To make enquiries about the balance; debit or credit entries in the account.
To obtain cash payment out of his account by tendering a cheque.
To deposit a cheque for credit into his account.
To deposit cash into the account.
To deposit cheques / cash into account of some other person who has account in a CBS branch.
To get statement of account.
To transfer funds from his account to some other account
his own or of third party, provided both accounts are in CBS branches.
To obtain Demand Drafts or Banker’s Cheques from any branch on CBS –
amount shall be online debited to his account.
Customers can continue to use ATMs and other Delivery Channels, which are also interfaced with CBS platform. Similarly, facilities like Bill Payment,I-Bob, M-bob etc. shall also continue to be available. Bank is in the process of launching Internet-banking facility shortly.All these aim to provide convenient, efficient, and high quality banking experience to the customers, comparable to world class standards.
What are other benefits to the Customers ?
A CBS branch is like a Sales & Service Delivery Center. Back office processes/activities are handled through technology at some other site, called Data Center.Branch, therefore, has more time for serving customers. This improves the quality and efficiency of the services rendered and the customer is directly benefited byway of satisfying and happy banking experience.Since a CBS branch is essentially designed to focus on customer-interface and customer service, the special lay-out and ambience of the branch is made toprovide a convenient and delightful banking experience. The Customer Service Representatives / Executives at the branch are specially trained to understand,facilitate and deliver banking services efficiently and effectively.We wish our customers happy banking.(*To safeguard the interest of customers, Bank has placed certain restrictions on the amount of transactions, which are handled through other branches underCBS. The details can be obtained from the branch).
The first Automated Teller Machine (ATM) was introduced in the year 1967 by Barclays Bank in Enfield Town in North London. At that time a few would have anticipated excess in ATMs. Then for many years
after, the aim was to shift people off the teller lines thus lowering a bank‘s distribution costs and increase
efficiency. But in the 1980s, it was noticed that people continued to visit branches, though not as frequently, so that with the added costs of ATMs, overall distribution costs were actually rising.Then, in the mid-1990s, came surcharges, which fuelled the proliferation of off-premises ATMs, which led in turn to the current overcapacity. There was a slowdown in ATM transactions, partially because of the
consumer’s reaction to the imposition of surcharges. Also by the advent of surcharging there was a