Sunday 22 December 2013

ABOUT CORE BANKING SOLUTION ASPECT OF INDIAPOST




Introduction to Core Banking Solution

India Posts maintains
over 17 Crore accounts
with a deposit of rupees 5.5 Lakh crore
rupees
in 1.5 Lakh post offices.
Introduction to Core Banking Solution

India post is losing its customers due to
lack of modernization in its customer
experience and operations.
At present, India post does not have the
services of ATMs, Mobile banking and
demat certificates facility.
Need for Core Banking Solution in Post Office
Majority of work in manual and duplication
Cheque clearing is done in manual and
locally
No Global account number system
Need for Core Banking Solution in
Post Office
No data protection and customer data
Cash management function is inadequate
resulting extra work
No MIS facilities
Issue of certificate in manual instead of
Demat
Poor record maintenance
Need for Core Banking Solution in
Post Office
Inadequate audit functions
Non agreement of balances
Non integrated systems architecture
customer services and back office
Calculations of agents commission in
manual
Need for Core Banking Solution in
Post Office
Real Time Processing
Multi channel support like ATMs/Mobile
Banking
Process automation and simplification to
reduce service response times
Benefits of Core Banking
Solution
Reduction off operations
Elimination of duplicate works
Stream line process to customers
Processes help to reduce operational risk
Benefits of Core Banking Solution
Minimum staff required
Lesser time in handing the POSB CBS
transactions
Online processing of bank cheques

Benefits of Core Banking Solution
Auto reversal of transactions and
associated charges
Various interest calculations
Bills payment for customers
Support telephone banking services
Benefits of Core Banking Solution
Inter branch transfers and transactions
Telephone and Internet banking

Architecture of Core Banking
Solution
High database security system
Real time functionality with offline
capability
Run of RDBMS and open
database connectivity
Use of graphical user interface

Architecture of Core Banking
Solution
Smart card
Screen verification of signatures
Cash account on accrual basis
One uniform ledger for all modules of all
post offices
Auto generation of daily balance sheet
Architecture of Core Banking
Solution
Reversal of accrual and prepayments
Online transactions to customers on
centralized database
Lowest connectivity cost in maintaining
local database
Mailing system for customer Relationship
management

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