There are a number of core banking software available in the market. Each of the software comes with its own advantages. However, the one core banking software which has gained immense popularity in the last few years is T24. Almost all the leading banks have procured licenses of T24 core banking software and integrated it in their banking systems.
According to several reports, banks which have been using T24 core banking software have registered a higher degree of productivity than those which use other software. There are a number of features which make T24 the most preferred banking software.
A few of these features are discussed in this article.
- High degree of configurability
The greatest challenge a bank faces during the integration of a core banking software with its banking system is the configuration of the software as per need. There are many banking software known for their high performance capabilities, but they do not come with enough flexibility to get configured. In this regards, T24 core banking software can be considered the best as it provides an array of configurable features. This feature allows banks to create online avatars of their offline operational processes without losing the core elements. - High scalability
Another feature which makes T24 unique in the market is its scalability. The software can be used for a small bank as well as large multinational banks. There is no lower or upper limit of users or banking programs that can be handled by the software. This is the reason why most banks prefer T24 core banking software as it can be scaled up periodically to accommodate the growth of the bank over the years. - No risk of obsolescence
T24 core banking software is a product of modern technology. The technical team of T24 core banking software keeps upgrading its functionalities as per the need of the hour. So, it has got no risk of getting obsolete in the market. In fact, the new banking software released in the market, are all followers of T24 in terms of build and technology. - Value for money
The most important reason why a bank should opt for T24 core banking software is the economy associated with it. Anybody who has checked the comparative prices of banking software in the market would agree that the benefits a digitally transforming bank would earn after it installs T24 would be much greater than the amount it would pay to acquire it. This is the reason why most banks prefer T24 as their first choice of banking software.
