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    Core Banking

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    preethygopala
    The document discusses core banking solutions. It provides definitions, describes core banking functions like deposits, loans, and payments. It explains that core banking allows customers to access accounts and perform transactions from any branch. The key benefits are lower costs, easier product introduction, and faster customer service. However, risks include over-reliance on technology and disruptions if computer systems fail or are hacked.

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    Core Banking

    Uploaded by

    preethygopala
    3K views14 pages
    The document discusses core banking solutions. It provides definitions, describes core banking functions like deposits, loans, and payments. It explains that core banking allows customers to access accounts and perform transactions from any branch. The key benefits are lower costs, easier product introduction, and faster customer service. However, risks include over-reliance on technology and disruptions if computer systems fail or are hacked.

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    The document discusses core banking solutions. It provides definitions, describes core banking functions like deposits, loans, and payments. It explains that core banking allows customers to access accounts and perform transactions from any branch. The key benefits are lower costs, easier product introduction, and faster customer service. However, risks include over-reliance on technology and disruptions if computer systems fail or are hacked.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    3K views14 pages

    Core Banking

    Uploaded by

    preethygopala
    The document discusses core banking solutions. It provides definitions, describes core banking functions like deposits, loans, and payments. It explains that core banking allows customers to access accounts and perform transactions from any branch. The key benefits are lower costs, easier product introduction, and faster customer service. However, risks include over-reliance on technology and disruptions if computer systems fail or are hacked.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 14

    CORE BANKING

    Presented by Priyanka g Priyanka p

    Core Banking
    Core banking is used to describe the services provided by a group of networked bank branches. Bank customers may access their funds and other simple transactions from any of the member branch offices. It is the heart of a modern financial service organization and is all about providing the banking customers with the right products at the right time through the right channels 24 hours a day, 7 days a week through a multi location, multi branch network. CORE stands for "centralized online real-time exchange".

    Core banking functions


    Normal core banking functions will include deposit accounts, loans, mortgages and payments. Banks make these services available across multiple channels like ATMs, Internet banking, and branches. Elements of core banking Making and servicing loans. Opening new accounts. Processing cash deposits and withdrawals. Processing payments and cheques. Calculating interest. Customer relationship management (CRM)activities. Managing customer accounts. Establishing criteria for minimum balances, interest rates, number of withdrawals allowed and so on. Establishing interest rates. Maintaining records for all the banks transactions.

    core banking solutions


    The platform where communication technology and information technology are merged to suit core needs of banking is known as core banking solutions. Computer software is developed to perform core operations of banking like recording of transactions, passbook maintenance, interest calculations on loans and deposits, customer records, balance of payments and withdrawal. Software is installed at different branches of bank and then interconnected by means of communication lines like telephones, satellite, internet etc. It allows the user (customers) to operate accounts from any branch if it has installed core banking solutions.

    Advantages of core banking solution


    Substantial reduction of operation costs Easier introduction of new products Faster customer service Integration of all products and services, leading to improved risk management Mitigation of Operational Risk Real-time transaction processing Scaling up of operations Availability of e-trade options to bank customers Efficient and easy transactions which can be conducted 24/7

    Various facilities associated with core banking


    All branches of the bank are interconnected. Details of the accounts can be viewed online just as u login to view email account. Main thing is that u can transfer money online from your account to any account with any bank in your country. U can do majority of the transactions online that u needed to go personally to the bank to perform it.

    U can perform transactions of your account from the bank counter at any part of the country

    Disadvantages of core banking


    Excessive reliance on technology Any failure in computer systems can cause entire network to go down.

    If Data is not protected properly and if proper care is not taken , hackers can gain access to the sensitive data Due to the any failure of computer system the network will be crashed. The technology must be upgraded every time and if some errors occur in some part whole system may be disrupted

    Method and system for integrating core banking business processes

    I Banking Application Architecture Platform Underlying technical foundation for all systems and applications. Represents the basis for a service oriented architecture used across the integrated platform. II Customer Data Management Central system for business partner management serving multiple banking applications. III Frontend Interface between users and backend systems. Presents data stored and calculated in the back-end in a well-arranged business supporting way. IV Customer Relationship Management System to manage customer and sales prospect interactions from a sales or marketing perspective by providing technologies to automate and organize business processes.

    V Analytical Banking Bank controlling system containing technical solutions for analytical processes in fields like risk management, BASEL II, IFRS or profitability analysis. VI Transactional Banking Transactional banking covers the processing of operational banking transactions managed by account managing systems. These are responsible to support the complete lifecycle of accounts or contracts. VII Enterprise Banking Enterprise applications for all industries to support common business processes, such as quality management, human resources or financial accounting. VIII Business Intelligence A BI system supports business decision processes by providing client specific historical, current, or predictive views on business operations.

    IX Transaction Broker A transaction broker connects the banking system to the outside world, mainly focusing on payment transaction flows. X Teller Application Teller applications provide user interface solutions for tellers to support customer transactions like payment transfers, deposits and withdrawals, foreign exchange cash transactions etc. XI Further Applications Further bank applications outside the banking application platform

    Total Bank automation


    Total Branch Automation (TBA)'' are available to automate the various activities of a typical branch. Bank automation will be networked so that bankers and customers can access the different applications of the bank. Such applications, based on integrating various functionalities, call for complex software development projects.

    Problems in bank automation


    Some PSBs have more than one dissimilar TBA package from different vendors. now it has created serious problems for inter-branch communications within a bank. More manpower requirement because some PSBs have parallel manual and computerised systems. The bank may have to double spending on computerisation projects.

    THANK YOU

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