5 Features Next Generation Core Banking Solution Will Have As the term suggests, core banking solutions was initially brought into the system for on line transaction processing. In India, the concept is about a decade old. The concept of data churning is not new and with the implementation of this solution, the cluttered data was cleansed.
According to the experts, the typical shelf life of a core banking software will see a considerable reduction in future. This will also affect the Software as a Service (SaaS) availability and its working model. But the following features must be implemented in the new age software which can claim it to become truly CBS. Transaction Posting The fundamental requirement of the maker / checker is to be content with the financial transaction. All the core banking solutions should follow the following features to keep up the workflow: • Flexible • Configurable • Forward as well as reverse flow for modification • Should support non-financial authorization • Allow remote authorization Single sign on features