What exactly is Core Banking?

0
3K

Core Banking Solution (CBS) is networking of bank branches, which allows customers to manage  their accounts, and use various banking facilities from  any part of the world.

In simple term, there is no need to visit your own branch to do banking transactions. You can do it from any location ,any time. You can enjoy banking services from any branch of the bank which is on CBS network regardless of branch you have opened your account.

For the bank which implements CBS , the customer becomes the bank’s customer instead of customer of particular branch.

Execution of Core banking system across all branches  helps to speed up most of the common transactions of bank and customer. In Core banking , the all branches access banking applications from centralized server which is hosted in secured datacenter.

Banking software/application performs basic operations like maintaining transactions, balance of withdrawal & payment, interest  calculations on deposits & loans etc. This banking applications are deployed on centralized server & can be accessed using internet from any location.

Why we need Core Banking Technology ?

Nowadays, the use of Information Technology (IT) is must for the survival & growth of any organization and same applicable to banking industry also. By using IT in any industry, banks can minimize the operation cost; also banks can offer products & services to customers at competitive rates.

Read More>>

Căutare
Sponsor
Categorii
Citeste mai mult
Jocuri
Die besten FC 25 Spieler Preise: Tipps zum Kaufen in EA FC 25
Die besten FC 25 Spieler Preise: Tipps zum Kaufen in EA FC 25 In der Welt von EA FC 25 sind die...
By Jone Thomas 2024-10-29 03:18:03 0 299
Health
Katie Couric CBD Gummies
Katie Couric CBD Gummies Reviews And Benefits   Katie Couric CBD Gummies - The aggravation...
By Katie Couric CBD Gummies 2021-12-09 15:27:57 0 3K
Health
Hemp Labs CBD Gummies US(2024) 100% safe? Does it really work or not?
⇉ Product Review: — Hemp Labs CBD Gummies Reviews ⇉ Used For:  — Pain Relief ⇉...
By Keto Gummies For Pain 2024-03-02 05:32:39 0 840
Food
Tomato Puree Market Future Trend & Growth rate
Manufacturers to Enhance Authenticity of the Products Used in the Production of Tomato Puree to...
By Ajaykumar Patil 2022-12-16 23:13:21 0 2K
Networking
Expand Digital Marketing's Potential for Business Success
Businesses are continuously looking for new and creative ways to engage with their target...
By Faizan Ahmad 2023-12-05 09:50:21 0 2K