Core Banking Solution (CBS) is a centralized banking system that enables banks to offer a wide range of services to customers from a single platform. Here's an overview of CBS:
Integration: CBS integrates various banking functions such as deposits, withdrawals, loans, and payments into a centralized system, allowing seamless communication and data sharing across all branches and channels.
Real-time processing: CBS facilitates real-time processing of transactions, ensuring quick and efficient service delivery to customers.
Centralized customer data: CBS stores all customer information, including account details, transactions, and KYC (Know Your Customer) documents, in a centralized database accessible from any branch or channel.
Multi-channel access: CBS enables customers to access banking services through multiple channels such as branches, ATMs, internet banking, mobile banking, and phone banking, ensuring convenience and flexibility.
Automation: CBS automates various banking processes, reducing manual intervention and minimizing errors, thereby enhancing operational efficiency.
Scalability: CBS is scalable and can accommodate the growth of banking operations, allowing banks to expand their network and services without significant infrastructure changes.
Enhanced customer experience: CBS enables banks to provide personalized and efficient services to customers, leading to improved customer satisfaction and loyalty.
Overall, Core Banking Solution plays a crucial role in modernizing banking operations, streamlining processes, and delivering superior banking experiences to customers.
The Balitikuri Cooperative Bank Limited launched its CBS platform in 2015 using Issac Technologies Pvt. Ltd. To enhance customer service and adopt emerging technologies, the bank migrated to TrustBank CBS by Trust Infotech India Pvt. Ltd. in 2021.