Core banking refers to the banking system in which multiple branches of the bank provide the service of accessing bank accounts and performing banking activities from any location. At present, core banking activities include money depositing, withdrawal, account reporting and cheque reimbursement. With the rapid development of technology, it is speculated that core banking would increase its scope of activity in the next few years. It has been observed that customers seem to be highly satisfied with their banks since the introduction of core banking technology. This is because bank customers had acquired the habit of standing in long queues or travelling thousands of kilometres just to deposit money. When they were offered the option of conducting their basic banking activities from any branch of the bank, they were extremely satisfied.
https://maveric-systems.com/services/t24The greatest advantage of core banking system is that it can be integrated with online banking platforms such as ATMs, CDMs, internet banking and mobile banking. In fact a number of leading banks in India have already integrated all their online and offline banking platforms with their core banking systems. As a result, customers can avail banking services from any platform they want and the information gets registered in the central database of the bank in real time. Since there is no lapse in data communication, the scope for mistakes is negligible and the bank customers do not get the opportunity to complain. However, the efficiency of a core banking system fully depends on the quality of the core banking software which is being used. There are a large number of core banking software’s that are available in the market today. Not all of these software’s are good enough to trust completely. In fact, there are only a few which can be used to handle core banking activities in large volumes. T24 core banking is one such software. Since its introduction in the market, it has not faced any kind of complaint from its partner banks. If a bank is planning to get digitally transformed and adopt a core banking system, t24 core banking would definitely be the best choice to opt for.
Another reason why t24 is the most preferred core banking software is that it provides a full range of services. This includes installation, integration and post deployment support to its partner banks. It is true that t24 would demand a certain amount of money for providing the required technical services but the cost is totally worth it as you will get high quality work.
