Everything about t24 core banking

Posted by Lisa Williams on December 10th, 2019

Core banking can be best described as a system which takes care of the back-end processes in banking. This form of banking has created a seamless experience at the various branches of a bank.  Banks are now replacing the traditional system of banking and are opting for systems like t24 banking. This is a useful core banking solution that offers ample resources for managing and maintaining the data of the user.

T24 core banking equips an economic institution with all the essentials so that they can go about with their daily work, without any problem. Its banking services include supporting the back and front end of the banking system, along with establishing a sound relationship with clients.

A core banking scheme, when implemented in the structure, ensures a correct and error-free performance for the users. The banking solution composes of both front and back end office support. T24 core banking makes use of biometrics and multi-factor identification for performing administrative tasks. These forms of identification help protect the data and make sure that the process is risk-free.

They maintain a continuous stream of information, without any time lag. The system also enhances marketing intelligence and implements crucial insights, along with offering data regarding the consumer behaviour. The banking solution is a real-time program where the data is recorded, handled and made virtually accessible instantly.

Below are the features of this form of core banking.

• E-Cheques:
  Nowadays we are hearing about e-governance, e-commerce and various other online portals that have come into existence, in this part of the world.  New technology has been revealed in the banking sector in the form of e-cheques, which will gradually replenish the traditional method of using a paper cheque.
• RTGS:
  As the name implies, the resources are transferred within banks in ‘Real Time'. RTGS or the Real Time Gross Settlement is a method through which banks guide the users through electronic devices so that they can shift funds from one account to another.
• Telebanking:
  Telebanking allows users to carry out banking activities, which are not cash related, via the telephone. Under this scheme, an automated sound recorder is used for enquiries, which makes the process relatively easier. For complicated activities and transactions, a manual phone conversation is carried out.

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