Question

Write short note on Core Banking System

Answer 1

Gartner defines a core banking system as a back-end system that processes daily banking transactions, and posts updates to accounts and other financial records. Core banking systems typically include deposit, loan and credit-processing capabilities, with interfaces to general ledger systems and reporting tools.

Answer 2

Answer:

core banking is a banking service provided by a group of networked Bank branches, their customers may assess their bank accounts and perform basic transactions from any of the member branch offices.

features:

1. centralised database
2. easy access to databases
3. Asus to any branch
4. easy transfer of fund

Explanation:

merits:

1. translation from any place
2. no need to visit the Bank
3. improves efficiency