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 offoffline 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