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One of the most important tasks currently undertaken by banks is the optimisation of core banking (also known as transactional banking). This encompasses all the systems associated with the administration of current accounts, savings accounts, time deposits and loans. Optimisation of these systems enables a perfect data flow within these mass transactions, reduces costs and complexity, and consequently increases margins and efficiency.
Accordingly, in cooperation with our partners we provide you with comprehensive consulting and development services
- Core Banking
- Core Insurance
- Core Financials
Core banking projects place intense demands on implementation partners, as even the smallest process or setting error can cause significant damage, such as incorrect account balances and bank transfers or erroneous risk calculation data. Moreover, such errors do not merely impact on a reporting unit or sub-system, but affect the bank’s “engine”, that is, the entire IT infrastructure and production system – in other words, all accounts, deposits, transfers, loans and customer data. This “engine” must operate without interruption throughout the entire conversion period. A stoppage of only one working day could prove catastrophic, while cessation for three working days would probably mean the end of the bank. As a consequence, such a project requires particularly comprehensive planning and a highly specialised partner.
ifb group has successfully carried out numerous transactional banking projects, partly in cooperation with SAP AG and banks in a whole host of countries.