Core Banking Solution
The banking sector has evolved significantly over the years and has grown tremendously to accommodate new-age solutions. With increased connectivity, reach and digital platforms, the need for highly networked banks (and branches) have heightened. Banks have to constantly meet customer expectations while facing critical challenges revolving around profitability, compliance, bad loans and more. To have a unified and centralised system that streamlines processes, products, services and transactions, core banking software must be adopted by banks and financial institutions.
CBS - An Overview
Core banking solutions (CBS) are the bank’s centralised systems that are responsible for ensuring seamless workflow by automating the frontend and backend processes within a bank.
CBS enables single-view of customer data across all branches in a bank and thus facilitate information across the delivery channels. It enables banks to provide their customers with specific, targeted and tailored products and services at one place. The convenience of core banking solutions enable customers to access all banking facilities from any of the bank branches across the country, regardless of which one is their home branch.
CBS – The Advantages
A core banking system, when implemented well, ensures accurate and error-free delivery of financial services to customers, thus adding to the banks’ efficiency and performance.
Some of the most positive impacts of deploying CBS in banks:
Sesame’s Core Banking Application - BEACONPRO
Sesame Software Solutions – a trusted partner for banks and credit societies offers its flagship product, BeaconPro CBS to simplify routine banking tasks.
BeaconPro is an outcome of innovative thinking and best-breed technologies that redefine banks’ operating models. Having successfully implemented CBS for 200+ clients (majorly co-operative banks) in Kerala, BeaconPro has become synonymous with the ideal solution that transforms financial institutions into flourishing businesses.
Learn more about how BeaconPro helps financial institutions and bankers meet and exceed their business goals. Click here!