Please Explain What Are The Different Types Of Banking Software Applications Are Available In The Industry?
Answers
Answer:
There are many types of banking software applications and few are listed below
a) Internet banking system:
Internet banking allows the customers and financial institution to conduct final transaction using banks or financial institute website.
b) ATM banking (Automated Teller Machine):
It is an electronic banking outlet, which allows customers to complete basic transaction.
c) Core banking system:
Core banking is a service provided by a networked bank branches. With this, customer can withdraw money from any branch.
d) Loan management system:
The database collects all the information and keeps the track about the customers who borrows the money.
e) Credit management system:
Credit management system is a system for handling credit accounts, assessing risks and determining how much credit to offer to the customer.
f) Investment management system:
It is a process of managing money, including investments, banking, budgeting and taxes.
g) Stock market management system:
The stock market management is a system that manages financial portfolio like securities and bonds.
h) Financial management system:
Financial management system is used to govern and keep a record of its income, expense and assets and to keep the accountability of its profit.
Explanation: