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Overview of banking processes
In India, the banks basically perform the following
business called the core business.
- Accept deposit from public
- Lend money to public for specific purpose
- Deal with remittance and collection
- Undertake Treasury & forex operations
Banks also conduct a few other activities that are
incidental to their main activity such as offering safe
deposit lockers etc.
Banks basically use two kinds of software:
Standalone branch solutions
The transactions take place in the server at the
branch level and at the end of day it is consolidated
and sent to Regional/Head office for further consolidation.
Core Banking Solutions (CBS)
As the main focus is on core area of deposits, loans,
remittances and MIS, banks use the core banking solutions
that can be deployed centrally to take advantage of
both the following:
- The central administration
- Distributed operation through their network of branches
The CBS takes care of various complex business processes
in different modules. At the same time, the CBS is cost
effective and efficient. In CBS, banks maintain a central
database and all transactions that take place in various
branches are updated in the central server online. People
also can transact business from any of the branches
of the bank. Adequate infrastructure such as dedicated
lines, necessary hardware etc. must be available.
• Overview
of banking processes ...
read more
• IS
Audit of banks ... read
more
• Controls
in the Information System environment ...
read more
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