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Core Banking Software Testing Services

Core banking systems (CBS) have taken over the banking industry in immense way.   They are critical to the competitiveness of large banks, the number of transactions they facilitate, owing to their sheer size, and the wide range of their product and service offerings. They are varied in nature and depend upon the type of customer bases that the bank is catering to.  Also, as these banks start to expand rapidly and customer demands for centralised operations become louder, the need to integrate the IT systems of new branches and subsidiary banks into the CBS is becoming critical.

The fundamental goals of core banking are providing greater customer convenience and cutting down on operational expenses.  In simple terms, there is no need to visit your own branch to make banking transactions. You can make it from any place at any time. You can have the benefit of  banking services from any branch of the bank which is on the CBS network regardless of the branch you have opened your account.

Why we need Core Banking Technology?

 

Nowadays, the use of Information Technology (IT) is a must for the survival & growth of the banking industry also. By using IT, Banks can minimize the operation cost; also can offer products & services to customers at competitive rates.

 

CBS is required

  • To meet the effective changing market & customer needs.

  • To build on & simplify banking processes in that banking staff can focus on sales & marketing stuff.

  • Comfort to customers as well as banks.

  • To Speed up the banking transactions.

  • To expand presence in rural & remote areas.

  • Larger flexibility, so that individual modules can be tested

  • Minimal re-work for subsidiary bank testing

 

Basic elements of CBS that helps to

  • Depository Services

  • Cash Operations

  • Currency Management

  • Account Sweeps

  • Internet Banking

  • Mobile Banking

  • ATM

  • Fund Transfers (IMPS, NEFT, RTGS etc.)

  • Customer Information

  • Loans

  • Interfaces

  • Trade Finance

  • Forex

 

Customers are benefited in multiple ways – round-the-clock banking, quicker services anywhere at any time like cash deposits, withdrawal, passbooks, statements of accounts, demand drafts, etc. , Fast payment processing via Internet banking, mobile banking. All branches access applications from central servers/data center and the rural/remote area penetration.

Banks benefit in no lesser way. Among the primary boons is process standardization, Retention of customers through better customer service. Improved management of documentation & records and considerable eradication of errors, and better safety and compliance process.

 

Central Bank Core Banking System Testing

 

Central banks are playing vital role in the economy of the country. They lead the financial systems, regulate the economy, handle government operations, focuses on currency issuance and management, central bank digital currency (CBDC), Bond issuance and depository services, supervision etc.

 

Levarus has Central Banking experts and they know the domain in detail and in depth. This helps the central banks to get defect free systems in quick turn around time.

Retail Bank Core Banking System Testing

Levarus aims smooth go live of all your large scale transformation projects with standard automation tool kit and robust test coverage.

 

Levarus offers a bouquet of services aligned to core banking and aims to evolve consistently with the changing market patterns.

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