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Banking Industry Solutions

Credit Transaction System

Booking system for various credits is a transaction system. Banks will have separate credit transaction systems for personal loans, mortgages, credit cards, corporate and other retail loans. Day-to-day transactions like deposits and withdrawals by cash and cheque and other transfer entries are recorded in Credit Transaction system. This is linked to the Core Banking system and the feeds are generated and integrated with other systems and Data Warehouse.

Business Challenges

As there are many types of loans and loan products being sanctioned every day by Banks and financial institutions, there is a need to have a Credit Transaction system separately for recording the daily transactions.

Some Banks have already implemented core Banking Systems and there is a need to upgrade the transaction system as different module in the core banking system.

Various enhancements are being requested by the IT department in the credit transaction system based on the AML/KYC norms and other regulations.