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Core Banking: Transforming Banking

A core banking system (CBS) is centralized software that allows banks to provide services through various channels like branches, ATMs, online and mobile banking. It evolved due to changing customer expectations of instant access and seamless experiences, and regulatory needs for accurate reporting. Research found CBS improved customer convenience and operational efficiency, with real-time processing being the most crucial feature. CBS addresses customer and regulatory needs while enhancing efficiency.

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Mohit Jangra
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104 views5 pages

Core Banking: Transforming Banking

A core banking system (CBS) is centralized software that allows banks to provide services through various channels like branches, ATMs, online and mobile banking. It evolved due to changing customer expectations of instant access and seamless experiences, and regulatory needs for accurate reporting. Research found CBS improved customer convenience and operational efficiency, with real-time processing being the most crucial feature. CBS addresses customer and regulatory needs while enhancing efficiency.

Uploaded by

Mohit Jangra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

CORE BANKING

SYSTEM
 CBS is the backbone of modern
banking operations.
 It's a centralized software system
that allows banks to provide a
wide range of services to their
customers through various
channels, including branches,
ATMs, online banking, and
mobile apps.
NEED FOR CBS

3.1 Evolution of Banking


In the past, banking was manual and branch-centric.
The need for a more efficient and customer-centric banking system arose
as technology advanced.
3.2 Changing Customer Expectations
Customers now demand instant access to their accounts and services.
They expect seamless, 24/7 banking experiences.
3.3 Regulatory Compliance
Regulatory requirements demand accurate and real-time financial
reporting.
CBS helps banks stay compliant with these regulations.
PRIMARY RESEARCH ON
CBS

4.1 Research Methodology


Conducted surveys and interviews with banking professionals and
customers.
4.2 Key Findings
Real-time Transactions: 87% of respondents considered real-time
transaction processing as the most crucial feature of CBS.
Customer Convenience: 92% of customers mentioned that CBS has
significantly improved their banking experience.
Operational Efficiency: 78% of banking professionals reported increased
operational efficiency after CBS implementation.
FEATURES OF CBS

5.1 Real-Time Processing


All transactions are processed instantly, ensuring up-to-the-minute account information.
5.2 Centralized Database
Customer data, accounts, and transactions are stored centrally for consistency and
accuracy.
5.3 Scalability
CBS can handle a growing number of customers and transactions without performance
issues.
5.4 Security
Robust security features protect customer data and prevent unauthorized access.
5.5 Interoperability
CBS can integrate with various banking systems and third-party services.
CONCLUSION

CBS is pivotal in revolutionizing banking operations.


It addresses the evolving needs of customers,
enhances efficiency, and ensures compliance with
regulations.
Our primary research highlights its positive impact
on both customers and banking professionals.

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