Banking In Banking

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Banking Made Easy (BME) is a Banking Information System designed to cater to the requirements of the Indian Banking sector. It is proposed for and made on behalf of the Indian Banking Association (IBA), a consortium representing 173 banking companies operating in India. It aims the following: • Develop, coordinate and strengthen the Indian Banking System • Assist member banks in adoption and implementation of new online processes and systems • To minimize the level of manual intervention required in the banking process • To ensure an efficient banking system which is easy to use and maintain • Integration of the Banking Information system with systems of other sectors such as retail, production, health, agriculture, education etc. To meet the…show more content…
The banking sector forms a crucial basis for the overall economic development of the nation. Therefore, excellence in banking is a crucial focus of government policies. And it is imperative that the Information Technology is one of the most crucial facilitators for the transformation of the Indian banking industry in terms of its transactions processing as well as for various other internal systems and processes. The various technological platforms used by banks for the conduct of their operations, their method of reporting and the way in which interbank transactions take place has evolved remarkably over the…show more content…
with over ten years of experience in the Banking and Finance Domain, is committed to provide the best in class solutions for technology needs of all kinds in the banking domain. We have developed a Banking Information System (BIS) – Banking Made Easy (BME) for our client – Indian Banks Association (IBA). IBA represents 173 banking companies operating in India. IBA was formed for development, coordination and strengthening of Indian banking, and assist the member banks in various ways including implementation of new systems and adoption of standards among the members. The incumbent systems in the Indian Banking sector incorporate technology to an extent that marks the transformation from the traditional banking to the online banking. However there are some areas where information technology has not fully penetrated. Banking being a data driven industry, IBA wants a BIS which fully explores the advantages of new technologies in order to make use of the voluminous amount of data to understand its customers better and to connect with them round the clock on social platforms. Its key requirements from the banking system
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