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Mangalore: Core Banking Solutions Launched at MCC Bank

  •   Wed, Aug 22 2012 04:46:13 PM

Pics: Spoorthi Ullal
Daijiworld Media Network - Mangalore

Mangalore, Aug 22: The inaugural function of the implementation of Core Banking Solutions at MCC Bank was held on Wednesday August 22.
 
Melwyn D'Cunha, chairman of the Bank inaugurated the Implementation of Core Banking Solution software, “Omni Enterprises” designed by Infrasoft Technologies, Mumbai at the founder's branch.

Dr Edward Nazareth, vice-chairman and Valerian Patrick Pinto, professional director were present.

Fr Sunil George D'souza, assistant parish priest of Our Lady of Miracle Church, Milagres blessed the occassion.

Deril John Lasrado, manager of Karkal branch welcomed the guests and the gathering. Prakash Poojary, project manager of Infrasoft Technologies and Vinay from M/s Automation Technologies were also present.

Hilda Fernandes, Staff of Founder branch thanked the gathering. Anand Prakash Nazareth compered the programme.
  

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Comment on this article

  • PRAKASH, KUWAIT

    Sun, Aug 26 2012

    Core Banking is normally defined as the business conducted by a banking institution with its retail and small business customers. Many banks treat the retail customers as their core banking customers, and have a separate line of business to manage small businesses. Larger businesses are managed via the corporate banking division of the institution. Core banking basically is depositing and lending of money.

    Nowadays, most banks use core banking applications to support their operations where CORE stands for "centralized online real-time environment". This basically means that all the bank's branches access applications from centralized datacenters. This means that the deposits made are reflected immediately on the bank's servers and the customer can withdraw the deposited money from any of the bank's branches throughout the world. These applications now also have the capability to address the needs of corporate customers, providing a comprehensive banking solution.

    A few decades ago it used to take at least a day for a transaction to reflect in the account because each branch had their local servers, and the data from the server in each branch was sent in a batch to the servers in the datacenter only at the end of the day (EoD).

    Normal core banking functions will include deposit accounts, loans, mortgages and payments. Banks make these services available across multiple channels like ATMs, Internet banking, and branches.

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  • PRAKASH, KUWAIT

    Sun, Aug 26 2012

    Core banking solutions are new jargon frequently used in banking circles. The advancement in technology, especially Internet and information technology has led to new ways of doing business in banking. These technologies have cut down time, working simultaneously on different issues and increasing efficiency. The platform where communication technology and information technology are merged to suit core needs of banking is known as core banking solutions. Here, computer software is developed to perform core operations of banking like recording of transactions, passbook maintenance, interest calculations on loans and deposits, customer records, balance of payments and withdrawal. This software is installed at different branches of bank and then interconnected by means of communication lines like telephones, satellite, internet etc. It allows the user (customers) to operate accounts from any branch if it has installed core banking solutions. This new platform has changed the way banks are working.

    Gartner defines a core banking system as a back-end system that processes daily banking transactions, and posts s to accounts and other financial records. Core banking systems typically include deposit, loan and credit-processing capabilities, with interfaces to general ledger systems and reporting tools. Strategic spending on these systems is based on a combination of service-oriented architecture and supporting technologies that create extensible, agile architectures.

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  • sunil Praveen Pinto, manglore

    Sat, Aug 25 2012

    waw fr. sunil our master blessing. nice to see fr

    DisAgree Agree [1] Reply Report Abuse

  • kannadiga, mangalore/dubai

    Sat, Aug 25 2012

    Core Banking solution now ...after 100 years....to manage 13 branches....WOH....really a milestone....if not blackstone...

    DisAgree Agree [1] Reply Report Abuse

  • Jaison Taccode, Bangalore

    Sat, Aug 25 2012

    Good News... This symbolizes we are progressing. We hope very soon we will get ATM facility from MCC bank...

    DisAgree Agree [2] Reply Report Abuse

  • KRPrabhu, Kudla/Bangalore

    Sat, Aug 25 2012

    CBS introduction in MCC bank is a mile stone for the organisation.It is important that bank should open more branches to reap the benifit and reach out to customers and expand their base.
    Bank needs seriously think about refining it loan/deposit products,introduce new loan products to keep pace with needs of clients at large.
    It is also necessary the CBS newly introduced has capability to cater the growth plans of future and employee/custoemr friendly.Employee needs to be extensively trained in CBS operation.
    Fine tune/revamp bank web for easy understanding of banks products in all aspects.This needs to attanded on priority.One important aspect that this bank is completting century soon as such road map to future plans be envisaged clearly and introduced vigerously.Coming out from community clout is a must
    It is better and a nessesary to utlise the services of an experienced ex banker in its growth path.

    DisAgree Agree [2] Reply Report Abuse

  • mabel andrade, udupi/kuwait

    Sat, Aug 25 2012

    Good step taken by MCC Bank.Now after the introduction of core banking,We need NRI status soon for this bank as this is the best bank specially for all christians who lives abroad.

    DisAgree Agree [3] Reply Report Abuse

  • James, mangalore

    Wed, Aug 22 2012

    Thanks for everything ... but first let the Directors and the staff members respect the Shareholders by forwarding the proper invitations to the share holders and former employees.. they have not yet reconginesed the servises of the old share holders and former employees... who have contribitued to the survival of the bank ... God Bless the present management in doing so

    DisAgree [1] Agree [9] Reply Report Abuse

  • Juliet Mascarenhas, Bejai/Mangalore

    Wed, Aug 22 2012

    CBS platform.Avery good move.Stand united for the growth of this only one Bank in the hands of our community.

    DisAgree [2] Agree [6] Reply Report Abuse

  • John DSilva, Karkala/Mumbai

    Wed, Aug 22 2012

    Congratulations to MCC Bank and in particular to Melwynbab and Dr. Edward Nazareth for launching core banking solution. The account holders will get immense benefit from the core banking. It is time that everyone come forward to open the bank account in MCC Bank and become its shareholders. The bank is doing well. It needs the support of one and all. My best wishes to the bank and its management.

    DisAgree [6] Agree [12] Reply Report Abuse

  • Naveen Kulshekar, Mangalore

    Wed, Aug 22 2012

    It is a good news.Starting core banking system ,made easy for transection of money crediting one branch to anathor.Under the Leadership of Mr. Melwyn Dcunha our MCC bank is progressing fast, all our konkani christians hsa to support by becoming share holders,opening accounts and dealing with it also introducing others, all should work unitedly to make our bank as a scheduled bank.

    DisAgree [7] Agree [12] Reply Report Abuse


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