BCM Challenges in Indian Banking Industry - DRI-India

Core Banking System• Gartner defines a core banking system as a back-end system thatprocesses daily banking transactions, and posts updates to accountsand other financial records. Core banking systems typically includedeposit, loan and credit-processing capabilities, with interfaces togeneral ledger systems and reporting tools.• For a layman, Core Banking is synonymous with Running the Bank• It is the heart of a modern financial service organization and is allabout providing the banking customers with the right products at theright time through the right channels 24 hours a day, 7 days aweek through a multi location, multi branch network• While many banks run core banking in-house, there are some whichuse outsourced service providers as well. There are several Systemsintegrators like Accenture, IBM and HP which implement these corebanking packages at banks.© 2012, www.periculum.in Internal13