The operative banks with a history of almost 100 years have become an important constituent ofthe Indian Financial System. This is attributed mainly to their much better local reach, personal interaction with customers, and their ability to catch the nerve of the local clientele. With this backdrop, one can envision the tremendous potential which lies ahead for them. However, the realisation of this potential depends on how they gear themselves to meet the challenges of modem banking, mainly driven by technology.
Technological innovations such as Core Banking Solution (CBS), Image Enabled Cheque Processing and payment have been the cornerstone of new age
banks worldwide. For Co-operative banks, these initiatives must become the benchmark to satiate the demands of the present consumer as well as underline their presence in the competitive banking landscape.
Present day customer wants quick fund transfer, deposits/ withdrawals, account updates, transaction postings etc. and have no time to wait in queue. Co-operative banks can answer customers' demands effectively and efficiently by implementing CBS. The 'Anywhere Banking', 'Anytime Banking' through new, 24 X 7 X 365 delivery channels such as Automated Teller Machines (ATMs), Internet, and
Mobile banking, etc., are some of the benefits of core banking. Additionally, the Management Information System (MIS) reports, which is a feature in all core banking solutions, helps the top management as an effective risk management and a strategic decision making tool.
A centralised Data
Center, secured information exchange, role defined access, robust authentication
process back up site
(Disaster recovery) is
the real core running in the background which makes bank to service, and customers to avail banking
at a mouse click.
Technological innovations such as Core Banking Solution (CBS), Image Enabled Cheque Processing and payment have been the cornerstone of new age
banks worldwide. For Co-operative banks, these initiatives must become the benchmark to satiate the demands of the present consumer as well as underline their presence in the competitive banking landscape.
Present day customer wants quick fund transfer, deposits/ withdrawals, account updates, transaction postings etc. and have no time to wait in queue. Co-operative banks can answer customers' demands effectively and efficiently by implementing CBS. The 'Anywhere Banking', 'Anytime Banking' through new, 24 X 7 X 365 delivery channels such as Automated Teller Machines (ATMs), Internet, and
Mobile banking, etc., are some of the benefits of core banking. Additionally, the Management Information System (MIS) reports, which is a feature in all core banking solutions, helps the top management as an effective risk management and a strategic decision making tool.
A centralised Data
Center, secured information exchange, role defined access, robust authentication
process back up site
(Disaster recovery) is
the real core running in the background which makes bank to service, and customers to avail banking
at a mouse click.
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