Core Banking Soulution

Executive Summary

The banks were facing stiff competition. Markets were expanding very rapidly. The cost had to be brought down. The available technology was far more advance. It was at the moment, the concept of core banking solution appeared on the horizon. In an increasingly competitive environment, it is the demand for the day to ensure the implementation of core banking solution to achieve their business objectives.

In Bangladesh with the development of economic growth the banking sector also growing rapidly. The continually changing business dynamics in new age economy required banks to respond with a high degree of services. Today core banking solution emerged as the both key enabler and driver of change in Bangladeshi banking sector. With the expansion of business and banking industry the customers also demand best services from the bank. The core banking solution empowers the banks to transform their services and business in a new era. This solution address the core banking, consumer and corporate e-banking, mobile banking, web based cash management requirements.

The banks are in Bangladesh still practicing traditional way of banking, which is really difficult and time consuming for both the banks and customers. Core banking solution brings significant benefits for bank management and customers. It enables the banks, customer’s relationship management by providing a operational customer’s database and administration. The database can be different types such as- centralized database and distributed database. By deploying wireless network connectivity the branch banks and head office able to communicate and transact very quickly. The customers can access banking facilities from any branches of bank. As a result the customer no belongs to a branch. He belongs to the bank. It provides the improved services and cost saving, which is very essential for hugely populated and expanding economy like Bangladesh.

In this term paper the core banking solution...