Long are gone the days when people had to stand in queues to avail services in a bank, and all of this has been made possible with core banking solutions. Centralized Online Real time Exchange i.e. Core banking solutions aim to make banking services a better and improved experience for people around the world with every passing day.
Core banking systems act as a singular contact point to be able to avail the various services offered by the bank on a single platform. Processes such as interest calculations, money transfer, balance payments, customer information, loans, mortgages all have become completely automated because of core banking solutions.
Some of the advantages of a good core banking solution are as follows:
- Agile : Core banking solutions should be adaptive to constant changes and advancements in the industry as well as the technology, to ensure that the banking service offered is seamless.
- Scalable : With the number of people opting for online transactions increasing daily, banks will also notice bulk transactions taking place on a daily basis and thus they should be able to scale without keeping the present version of the software on hold.
- Flexible : Banks offer various services, and need various modules to offer those solutions. Only a good core banking solution will allow you to integrate the required IT resources as per your requirements.
- Cost-efficient : With the help of the online banking solutions, not only are banks able to provide customer satisfaction to their clients, but are also saving a lot of hours of manual labor and maintaining utmost accuracy in their work.
FinCORE, a core banking solution offered by Finacus, is not only adaptable to various banking operations, but can easily handle large transactional volumes as well. Additionally, some other advantages of FinCORE include, removal to intermediate processes, saving cost and time with advanced processes, documentation of the entire process, improved risk management with optimum checks. In a nutshell, Finacus offers a core banking system which is suitable to all banks and assures the utmost security of all the data.