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 started CBS in the Year 2015 and all 6 branches of the Bank migrated to CBS platform.We are using Issac Technologies Pvt. Limited with other different urban Cooperative bank of West Bengal.All NEFT/RTGS transactions go through HDFC bank server and after successfull transaction,SMS alert is sent to the user mobile.