Core Banking is networking of branches, which enables Customers to operate their accounts, and avail banking services from any branch of the Bank, regardless of where he maintains his account. The customer need not stick to only one bank, he can easily go to any branch of the Bank to avail service. The customer is no more the customer of a Branch. He becomes the Bank’s Customer. Thus this service is a step towards enhancing customer convenience.
Advantages of Core Banking- :
All branches are inter-connected with each other. Therefore, Customers can easily avail various banking facilities from any branch located anywhere. The services provided are as follows:
To make enquiries about the balance; debit or credit entries in the account.
To obtain cash payment out of his account by tendering a cheque
To deposit a cheque for credit into his account.
To deposit cash into the account.
To deposit cheques / cash into account of some other person who has account in a branch.
To get statement of account.
To transfer funds from his account to some other account – his own or of third party, provided both accounts are in CBS branches.
To obtain Demand Drafts or Banker’s Cheques from any branch on CBS – amount shall be online debited to his account.
Bank provides Core Banking facility that aims to provide convenient, efficient, and high quality banking experience to the customers.