Core Banking Solution

What type of network is used in core banking solution?

Core Banking Solution is the process of providing a centralized on-line system where all the data related to transactions, customer data (such as name, profession, income, family members, etc.) are stored and are available to all networked branches for access. The centralized data repository helps online transaction processing, making it easier and faster. Core Banking solutions have made banking more efficient by cutting down time in data access and has made database maintenance easier.


HCL Technologies banking practice is wholly focused upon the future of retail banking, corporate banking, and investment banking with a particular focus on the alignment of appropriate SAP® solutions to meet the needs of our clients. HCL Technologies clients include some of the biggest names in banking, including Deutsche Bank, Lloyds Banking Group, Barclays Bank, EBRD, Nationwide, and Standard Bank of South Africa. Our service structure allows us to deliver expertise from a global perspective across the EMEA, Asia-Pacific-Japan (APJ), and Americas regions.


For Europe’s largest mortgages and retail services bank, HCL provided the domain experts and functional specialists to analyze the requirements and to create the functional specification documents.


Many of our clients are implementing or planning to implement middleoffice processing hubs such as payments or loans platforms. A complex element is the integration of these middle-tiers with the backends which are holding the accounts. Very often this integration is done using a point-to-point integration approach, resulting in complex and inflexible solutions. The same problem occurs when banks are doing a core banking replacement program and have to integrate the new back-end with existing processing channels. It is surprising to see how this integration is handled in a tactical way and consequently important opportunities to offer a better service are missed. In this article we will describe an alternative approach which we call the Smart Integration Approach (SIA). SIA has two key ingredients which are the Account Location Service (ALS) and Core Banking Container (CBC). Nevertheless these components are not magic solutions and only make sense in a unified approach based on a Service Oriented Architecture. Another observation is that integration requires a toolkit. We are not advocating any specific tools such as TibCo or Websphere as differences between the vendors are marginal. What we are proposing is a mature and smart integration approach, which can be obtained with whatever tool, including CISCO AON.