CORE baNking sYstem

CORE BANKING
The platform where communication technology
and information technology are merged to suit
core needs of banking is known as Core Banking
Solutions
Anywhere and Anytime Banking
Core Vs Centralized Online Real-time Exchange
Centralized data store
No EoD but realtime update

Advantages
Customer:
Transaction of business from any branch, ATM that offers him anytime
anywhere banking facility.
Lower incidence of errors. Hence accuracy in transactions.
Better funds management due to immediate availability of funds.
Banks:
Standardisation of process within the bank.
Better customer service leading to retention of customer and increased
customer traffic.
Availability of accurate data & Better use of available infrastructure
Better MIS and reporting to external agencies such as Govt., RBI etc.
Increased business volume with better asset liability management and risk
management.

Benefits
Balance of payments and withdrawal are
done.
Mobile banking
Internet banking
ATMs
Recording of transactions
Passbook maintenance
Interest calculations on loans and deposits
Customer records

How ??
Technology
Communication

Standard tools

Intellect Suite from POLARIS

Flexcube from iFlex Solutions
Finacle from Infosys
B@ncs from TATA Consultancy Services