Core Banking System

The Core Banking System by Panamax transforms the banking functions for the BFSI industry through its cloud-native, regulatory compliant, and real-time decision-making capabilities. The platform addresses a variety of banking functionalities like retail, corporate, wealth, and payments enabling the banks and FIs to drive customer loyalty. Be future-ready with an agile, interconnected, and efficient banking model and create a cloud-enabled financial ecosystem for the end users.

  • Secured browser-based multi-channel integrated banking solution
  • Assured compliance with central banks and government regulations
  • Cost-effective delivery mechanism
  • Integrated additional delivery channels like SMS Banking, Net Banking, Mobile Banking, Payment Gateways, PoS, IVRS, Settlement Systems, Handhelds, Kiosk, Third-party interface integration and 24/7 banking
  • Addressing key security concerns like secure authentication, multi-level authorization and data encryption
 
Core Banking Architecture
 
Key Functionalities
CASA

The CASA module of our Core Banking System supports multiple accounts including savings, current, recurring and overdraft. The system featuring account analysis capability and specified controls, provides facilities such as flexible service charges and fee options, a variety of interest accrual and payment methods, credit or debit interest on balances, cash management, standing instructions and fund transfers.

Standing Instructions

Standing Instructions (SI), a highly essential banking service, refers to customer orders for scheduling regular transactions. Our Core Banking System effectively automates the processes of payments, collections, account-to-account sweeps (sweep-in and sweep–out) as well as variable payments among other things.

Term Deposits

The Core Banking System processes various operations like term deposits, account opening, redemption, renewal, interest and maturity processing. The types of term deposits handled by the system include cumulative deposits, non-cumulative deposits, deposit certificates, denominated deposits. The deposit can also act as collateral for an OD facility, enabling the placement of liens against loans and mortgages. The system can be used for maintaining multiple streams of deposits with different amounts and different maturity characteristics under a single customer account. This makes it possible to ‘top off’ a deposit during its tenure.

Interoperability with other systems

Enterprise-class n-tier architectures are designed with interoperability in mind. J2EE application servers and similar middleware act as a bridge for linking diverse systems in a heterogeneous environment through standards such as Web Services, CORBA and JMS. Standards-based interoperability empowers you to orchestrate seamless integration between your web application and legacy systems, as well as the customer, partner and supplier systems. The Core Banking System ensures that your application interoperates with nearly any system your company needs to add in the future.

Document Management

The Document Management option provides the ability to place key documents online for review by staff or clients as necessary. It offers a centralized secure document repository, allows scanning from any Twain-compliant scanner, and facilitates reviewing on back-office workstations and client browsers with necessary permissions.

 
Core Modules
Branch Management
Branch Management
Corporate Management
Corporate Management
Omni-channel Delivery
Omni-channel Delivery
Trade Finance
Trade Finance
 
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