Core banking means is the back-end system that can process daily banking transactions across different branches of a bank. CORE means Centralized Online Real-time Exchange. Also, the core banking can post updates to accounts and other financial records. Core banking systems can include deposit, loan, and credit processing capabilities, with an interface to general ledger systems and reporting tools. It provided a group of many bank branches where the customer could access their bank account and perform transactions from any of the member branch offices.
Benefits of core banking software:
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