Core Banking(CBS) is customer of a Bank Instead of a Branch. e.g. If You have an account with A Branch of PNB in Delhi. Tommorrow u are in Mumbai you can operate your account from any Branch of PNB in Mumbai. You can do Internet Banking by CBS. The remittance of funds by RTGS has become very easy. E payment of bills is possible through CBS. The statement of different accounts of same bank can be easily viwed/ obtained by mail. The business man can transfer funds to their different parties from their office. This has reduced cost of banking. Further it has helped bankers as they have better control over their branches. The regulator (RBI) has made it mendatory for all the banks to shift to CBS plat form to comply with of Baslle- II recommendations. Further, it is mendatory for banks to provide CBS banking under financial inclusion. For more detail please mail querries to firstname.lastname@example.org
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Core Banking is normally defined as the business conducted by a banking institution . 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.
Finacle, the universal core banking solution from Infosys,