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Could you explain Core Banking System?

Could you explain Core Banking System?

Could you explain Core Banking System?

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Jeeba Mar. 07, 2018

The CORE of 'core banking' is an abbreviation for Centralized Online Real-time Environment. Its called centralized in the sense that the entire information of all the member bank branches are located on a common server, typically called a cloud, instead of storing them in the local machines of the particular bank branches. As a result, you can enjoy the banking services from any place at any time. All you need is a device and internet connection.

Growth and perhaps even endurance of banks depends upon agile, cost effective core banking solutions that delivers distinguished service know how.

Core banking, in other words, can be called a platform where communication technology and Information Technology are merged to suit the core needs of banking. This technology has cut down time, and allows the user to work on dissimilar issues in a single platform.

Could you explain Core Banking System?

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