Core Banking Solutions (CBS)

Core Banking Solutions (CBS) are achieved through the use of communication technology and information technology; their role is one of efficiency, as their task is that of economising core banking processes.

Core banking refers to the everyday transactions undertaken by the bank’s retail and small business customers, such as deposit, withdrawal and transfer, for a variety of accounts inc. deposit accounts, loan accounts and mortgage accounts, performed either in branch or at an ATM, on the telephone or via internet banking.

CBS involves highly sophisticated computer software designed to execute core banking operations remotely, securely, efficiently and simultaneously.

The result is that retail and small business customer transactions can be performed at any branch or on any acceptable medium (phone, internet etc) and be instantly processed and reflected in the accounts affected. CBS is a rapidly evolving area of information technology. While there are a large number of CBS providers out there, three worthy of consideration are SAP (SAP Banking Solutions), IBM (Enterprise CBS for SAP) and Capgemini.