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