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CORE BANKING SYSTEMS

A core banking system is the back-end data processing application for processing all transactions that have occurred during the day and posting updated data on account balances to the mainframe. Core systems typically include deposit account and CD account processing, loan and credit processing, interfaces to the general ledger and reporting tools.

“Core technologies are evolving into highly agile architectures, and the implications for making the wrong decision will be lasting — and could put banks at competitive risk. “

CORE BANKING SYSTEM FEATURES

  • Alerts & Electronic Distribution
  • Anti Money Laundering Reports (AML)
  • ATM / Point of Sale
  • ATM / POS interface as per ISO 8583 Standard
  • Bank Credit Line / Customer Credit Line / Customer Security Line
  • Bank Profile / Branch Profile
  • Browser Based Clients
  • Bulk Account Opening (Through Excel Sheet) & Account Open Form Printing
  • Bulk file upload for transactions and account open
  • Calculation Methods Highly Parameterize
  • Cash Maintenance (Unit wise)
  • Cash Management
  • Centralized day end / day begin
  • Centralized Process
  • Charges / Fees Application
  • CTS (Cheque Truncation System)
  • Customize Web Services to handle any third party interface
  • Delivery Channels Support
  • Direct Selling Agent (DSA) features with capabilities for sub-DSA, turnover and commissions calculations
  • Elaborate channel rules and channelbased differential pricing for charges and interest
  • Event-based charges with provisions for online and batch collection of charges
  • Exchange rate structures with multitiered definitions
  • Extensive framework for bank management with user definition capabilities, audit trail features, reporting and exception management
  • Globalization – Language and Calendar Compatibility
  • Interest Application
  • Interest rate support for definition of differential and slab-based interest rates
  • Interface with Cheque book printing machine
  • Interface with Financial Inclusion / hand held devices
  • Interface with MICR machine
  • Interface with Pigmy (daily deposit collection) machine
  • Interfaces
  • Internet Banking
  • Inventory management
  • Inward / Outward clearing process
  • Kiosk Banking (Touch Screen)
  • KYC (Know Your Customer) Standard
  • Maker & Checker Concept
  • Menu Rights
  • Mobile Banking
  • Multi Currency
  • Non Performing Assets Management (NPA)
  • Online NPA (Non Performing Assets)
  • Phone Banking
  • Rebates, clawbacks, subsidies, planned prepayments and multi-source repayment configuration capabilities for retail loans
  • RTGS / NEFT interface
  • Rule-based Signature Verification System (SVS)
  • Service Branch Clearing (Indian content)
  • SMS Banking
  • Standing Order execution
  • Support for preferential pricing and discounts, both ad hoc and based on customer segments
  • Sweep Account Facility
  • Tax structure definition and application of withholding tax for defined events