CBS FULL FORM IN BANKING

CBS FULL FORM IN BANKING

CBS full form is Core Banking Solution. In this Core refers to Centralized Online Real-time Exchange. In simple words customer of the bank need not to visit his own branch to do Banking transaction. CBS most commonly used word in banking now days. It is a networking of bank branches, which provides facility to customers to manage their accounts, and use various banking facilities from any place where bank branch exists. In CBS platform customers become bank customers instead of particular branch customers.

In present senario the use of Information Technology is required for survival and growth of organization and the same is required to the banking industry. 
By using IT in banks can reduce the operation cost and banks can offer better products and services to customers.

In Banking industry Core Banking actually came into existence after the entry of computers and telecommunication technology. It's allowed the banks to exchange information among themselves in an efficient way. By that  reduced manual work. CBS helps in doing the daily transactions quickly and properly. In recent time every banks have shifted to core banking applications to support their operations.

CBS SOFTWARES USED IN INDIAN PUBLIC SECTOR BANKS.

In India mainly three core banking software used by public sector banks. They are

1) Flexcube

2) BaNCS

3) Finacle

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