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Swaraj Core Banking System

 

Overview:

Core banking systems are the backbone of a retail bank. These systems facilitate central accounting, Customer information and transaction processing functions. These systems were traditionally run on IBM mainframes. Only a select group of vendors offered such systems.

These systems have a centralised database that provides information on customers' assets and liabilities, a transaction processing engine and a system to support financial management of the bank. The core banking systems are loaded on to the centralised systems in the banks' data centre.

 

Banking Module:

This will fulfill the basic requirements of Bank / Branch automation. The Banking module comprises of :

  • Customer details
  • Savings Account
  • Current Account
  • Loans & Advances Account
  • Term Deposit Account
  • General Ledger Accounts
  • All above transactions
  • Queries
  • Reports
  • Periodical Operations like interest calculations etc.

 

Scope Of The System

To cater all these needs a software having following layers can be developed. For fulfilling the requirements of different banking practices with the core are briefly discussed below. With this the Bank can not only improve customer service levels but also provides the base data to handle Bank’s asset and liability management.

 

  • Core module
  • Other Functions & Facilities
  • Support module
  • Consolidation Module

 

Features

  • Open System – Based on Relational Database Management System with full GUI support, portable, maximum utilization of client and full support for OLE

 

  • Modular Approach – The system has to be designed in such a way that addition and deletion of modules to the core module will be easy and economic. Normally one module caters one part of the banking function.

 

  • Parameter Driven – For flexibility and to suit individual banking practices make it parameter driven. Parameters can be set at product level and account level for Standardization, Setting default values, Controls & checks.

 

  • Up-to-date Information – As soon as the transactions are entered the database is to updated immediately with all effects.

 

  • Multi – Branching – To enable number of different branches of a bank work with single database.

 

  • System Control – To provide complete control measures regarding the access and integration of the system following controls can be introduced –

Generate audit trail

Maintain edit history

Transaction Tracking system

 

  • Easy to use – Provision of online help to explain operation of each module, field level validations to avoid wrong inputs.

 

  • Security – It is the most important feature.

Login security

Module wise rights

Account rights

System locks

 

  • Fallback System – Quick restart of operations in case of minor / temporary system failure through recovery procedure. Rollback feature of RDBMS should be used.

 

  • Flexible Reports -  Extensive reportage system. Should include standard fixed format reports, general reports and user defined reports. Should support Browse, Zooming, Previews, Printer selection.