Core Banking
Overview
BankFlex® Core Banking is a highly configurable, rules-driven, highly performant, microservices-based, and real-time banking solution.
Comprising of a comprehensive set of business modules, BankFlex® Core banking can be easily configured and aligned to the bank’s business processes and their national bank’s regulatory requirements. BankFlex® Core banking can also be easily extended to add any business functions or business processes as per the bank’s requirement.
BankFlex® Core Banking supports all banking products and functions such as customer accounts, transactions, and loan payments, and more.
The platform is also is highly configurable. BankFlex® Core banking interfaces with the local/regional clearing system, SWIFT/SEPA gateways, General Ledger of the bank’s choice, CRM, Card Management System, Billing Aggregator, Wealth Management System or any other third-party applications/systems, as required by the bank.
BankFlex® Core Banking is deployed using Accelerated Agile Approach, allowing the bank to continuously review and offer feedback as the solution is getting aligned, configured and integrated as per the bank’s requirements.
BankFlex® Core Banking can also be deployed in phases, and the bank can define which essential functions to be deployed in initial phases and which ones to save for later phases.
Provides non-stop banking 24/7 availability
Highly Automated and real-time system
Highly Secure with all sensitive data encrypted or masked.
BankFlex supports Open Banking. Hence, any third party can access banking products and services through BankFlex NextGen PSD2 interfaces.
Comes with BankFlex MAC, command center for the bank’s operations, business, and IT teams to monitor, administer and configure BankFlex Banking system. BankFlex MAC is a role-based solution, and the bank’s staff can perform the operations in MAC as per the roles assigned to them.
BankFlex fully audits all the operations carried out in BankFlex Core banking, along with any other interaction that involves the Core Banking solution.
BankFlex core banking is highly performant multi-threaded application.
Customer Information Management, including Cersai compliance, CIC (like CIBIL, Experian, Equifax, and CRIF High Mark) Integration and NESL Integration
Accounts products such as Current and Savings Accounts, Overdrafts
Fixed Deposits (Term, Flexi, etc.)
Loans and Advances, Collaterals
Lien Noting / Marking
Auto NPA Management
Clearing And Return / ECS / ECS Mandate / Return Memo / Auto Return Charges
Remittances, Clearing (RTGS / NEFT /IMPS/etc.)
Cheque and Passbook Printing
Cheque Truncation System and Clearing
Bill Payment Systems
Locker Management
Cash Management (Cash Vault, Branch Level Cash Exchange, Retention Limit), Currency Denomination
N-way Reconciliation
AML - STR Whitelisting / Marking and CCR Data Entry, Auto Risk Categorization Reports
Chart of Accounts, GL Postings, Interfacing with GL, Balance Sheet, Profit and Loss, GST Module
Govt. Yojana (PMJJBY, PMSBY, APY) solutions with Auto Debit System as per Govt / RBI Guidelines
Shareholding Accounting (Share Department)
Treasury Management, Bank Investments (GOI, CBLO, Call Deposits, Other Bank FDs, Repo - Reverse Repo, Tri - party Repo - Reverse Repo, T-Bill, Mutual Fund, Mark to Market)
Electronic Funds Transfer (EFT) - ATM Switch Interface for Banking Customers
POS – EFT, E - commerce EFT Switch Interface
Regulatory reporting such as CIMS Reports, CTR, STR etc.
Etc.