Core Banking Solutions (CBS) :
Core Banking Solutions has helped banks to offer better customer service. It has also reduced the time and increased the efficiency. The Core Banking Solutions mainly work on the support of effective communication and good information technology. It is on account of merger of communication technology and information technology which enables the banks to offer core banking needs of the clients.
Core Banking Solutions are computer based banking applications (software) which works on a platform. The computer software handles the different functions of the bank like, recording of transactions, updating the balances in the accounts based on the type of transactions calculate interests and application of interest, charges etc., The software is installed in the branches and the computer systems are interconnected with a main computer server though communication lines (telephones, satellite, internet, fibre optical)
CBS is a back end system, and it processes daily banking transactions and updates the records accordingly. CBS helps the clients to operate their accounts from any CBS branch. CBS branch assist customers to handle their funds transfers in a quick turnaround time. It also assists the client to withdraw and deposit funds in other branches apart from the parent branch, where he maintains his account.
Data Warehousing- A Data Warehouse or Enterprise Data Warehouse (DWH/EDW) is a database used for reporting and data analysis. It is a central repository of data which is created by integrating data from one or more separate sources. DWH store current as well as historical data and are used for creating trending reports for use by senior management. The data stored in the warehouse are uploaded from the operation systems. The main source of data is cleaned, transformed, catalogued and made available for use by the managers for data mining, online analytical processing and decision support.