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CORE Banking

Banks worldwide are in the process of transforming their core banking business to adapt to new market and industry drivers. Increased regulation and globalization are heightening competition, forcing banks to become more agile in the marketplace and adopt international best practice. Expansion into new markets requires banks to leverage more on their existing branch and channel networks. Furthermore, changing population demographics and more demanding, intelligent customers means that banks must understand their customers completely and meet their needs, or lose them to competitors.

Banc724 Core Banking is a solution specifically designed to help Banks to meet these challenges head-on. One of the leading core banking solutions in the country today for tier-2 and tier-3 type banks, Banc724 Core Banking covers the entire spectrum of your bank's business from retail to commercial banking. Ours is a flexible, auditable and easy to use end-to-end solution for all services - across lines of business and channels.

We have specific Core Banking solutions for District Central Co-operative Bank, Regional Rural Banks, State Co-Operative Banks and rural subsidiaries of public sector banks. We built these solutions based on our working relationship with these banks over a period of time. The loan and the reporting modules are customized to suit the operations of these banks. For minor business variations in these areas we undertake to customize the product to suit the bank.

We also have a Banc724 Core Banking Lite product which is developed for Agricultural Cooperative Societies and Microfinance market. To bring financial services to those who need it most, Banc724- Micro Finance CBS offers a reliable end-to-end microfinance banking solution that can be accessed through point-of-sale devices and other wireless handsets over existing networks, with support for field activities (carried out through Hand-Held Devices - or HHDs) being integrated in on-line or off-line modes of transaction.

Banc724- Micro Finance CBS is designed as an all-in-one solution that completely meets the life-cycle needs of all kinds of microfinance operations. It empowers you with innovative loan management software tools to engage with borrowers with diverse needs and social groupings. With data about your lending customers in one place, regardless of the point of origination or loan type, you can reduce risk, gain processing efficiencies and use information more effectively across your business.

 

Coverage
 

» Retail and Commercial banking
» Rural Banking, PACS and Microfinance
» Scalable, seamlessly integrated solution
» Front-to-back-office straight-through processing
» New generation technology platform
» Adaptable information architecture
» Customer-centric enterprise foundation
» Aadhaar Enabled Transactions
» Electronic Clearing Service (ECS)

 

Key Highlights
 

» 24/7 processing of large transaction volumes, with high availability.
» Multiple delivery channel support, including branches, ATMs, point-of sale terminals, BPO centers, mobile devices, and internet banking and M-Commerce.
» A Web-based user interface with user definable online help.
» Security management covering application and role-based access controlled by ACL
» Online validations and automated exception processing with maker checker concept.
» Centralized, decentralized (Store and Forward, Using only for consolidation and reporting), combination deployments.
» Ease of integration with existing systems using flexible XML and Web Services.
» Operational risk management controls, including limits, collateral, and nonperforming assets
» Centralized / Cluster / Distributed Deployments
» Modular Architecture allowing procurement of the required modules 'as and when' Bank transits in such segments
» Superior Total Cost of Ownership (TCO) allowing the Bank to optimize on its technology investments with the business scalability
» Multilingual Capability to reach the market
» Single window operation for all types account closing
» Automated lien handling process for deposit link loans
» Statutory reports generated in consolidated mode
» Customer centric KYC data captured on entry point to system
» State of art MIS reporting system