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Gartner defines a core banking system (CBS) as the financial institution’s back‐office software that performs real-time or end-of-day processing for deposits and loans. Apart from advancing the processing dates, representative capabilities include transaction posting, interest accrual/payment, service charge calculation and cash management (zero balance, target balance). CBSs provide deposit and loan product servicing with interfaces to other applications, such as customer-facing channels, general ledger systems and reporting tools. CBSs can be deployed on the bank’s premises or run from the cloud or any hosted environment. Bank employees and customers either directly or indirectly use the bank’s CBS. The CBSs of a financial institution’s back‐office software perform either real-time or end-of-day processing for deposits and loans. Apart from advancing the processing dates, representative capabilities include transaction posting, interest accrual and posting, service charge calculation and cash management (zero balance, target balance). All these processes and steps imply a business model based on conventional banking principles that imply interest accrual on accounts and profitability from any lending practice. Therefore, CBSs, by definition, implicitly exclude Islamic CBSs that, to the contrary, use Islamic financial tools to back Shariah-compliant business models that require different mechanisms to produce profits.

• inter-Vision Financial Platform
  4.4

  5 Reviews

Finance refers to the products and services that support the planning, management, analysis, and optimization of financial operations across enterprises and financial institutions. This category includes markets that support core accounting, financial planning, treasury, tax, audit, compliance, investment management, and digital banking—enabling organizations to maintain financial integrity and ensure regulatory compliance.

• inter-Face
  3.5

  16 Reviews