Core Banking in Europe – Whats in a System

Today’s topic, is a common question that is hard to define a specific answer for is;

“What constitutes a Core Banking System ?”

There is a set of capability that I think everyone will agree is in scope;    The accounting ledgers and posting mechanism that enact the product definitions are the core of any core banking system.  From this point, I think things get a bit more subjective.  My stake in the ground for a Core Banking system in addition to the above is.

  • Customer file – The legal account holding data, not the breadth required for CRM
  • Payments – The ability to capture and invoke payments against accounts
  • Credit Management – Setting limits and managing
  • Collateral – Held against credit
  • Securities – Non cash holdings
  • Regulatory reporting

Read more at Insights on Business

Core Banking in Europe – Whats in a System

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