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Core Banking

Core banking refers to the basic, essential services that a bank provides to its customers. These are generally handled through a centralized system (Core Banking Solution – CBS) so that all branches, ATMs, mobile/internet banking etc. can access and update the customer’s data in real time.Multi-factor authentication, encryption, fraud detection, strong identity management.

Key features include:

  • Benefit 01

    Account opening, maintenance

  • Benefit 02

    Cash deposits and withdrawals

More Key Points:

Core banking” refers to the centralized back-end system used by banks to carry out their basic operations.

  • Fund Transfer
  • Cheque processing / clearing
  • Interest calculation & posting
  • Overdrafts, loans & credit management
  • Statements & account inquiry
Benefits of Core Banking

Automation of routine tasks reduces manual effort and errors. Centralized data and processes help reduce duplication.

Customers can access services anytime, anywhere (mobile/internet/branch). Real-time updates on balances, transactions etc.

Easier to introduce new products, services, or integrate with fintech/ third-party services via APIs.
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