The banking sector is leveraging on technology and end to end Core Banking Solutions (CBS) not only to cut cost but also to better serve the customer and beat the competition.

Banks all around the world are embracing technology. By leveraging effectively on technology, banks have cut costs, reduced the time of the transactions and also added value to their customers. Starting off with the basic automation of the bank branches, banks now are adopting technology solutions like Core Banking Solutions (CBS) which are helping them to compete better in today's world by enabling them to differentiate their products and services from their competitors.

CBS has heralded an all new era in the banking world. It opened up new channels to transact with the customers. Now the customer can choose the channel for doing his transactions either through the ATMs, or through Internet and even through phone. All this is resulting in a complete change in the way the banking is done. This is the era of anywhere and any time banking, making the branch banking and limited banking hours a thing of the past. This is also the time of real-time banking. Transactions get done instantly, instead of waiting to be done in the next couple of days and weeks especially in the case of cross-border money transfers. All this is an integral part of the CBS. At the same time, CBS is also helping banks to decrease the product development and testing lead time enabling the bank to launch new products and become innovative and agile.

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