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Title of Project

Study on Core Banking Solutions

Introduction
Banks and financial services organizations have long recognized the advantages of
deploying technology to improve the value, speed and flexibility of their product
offering to customers. Particularly in today’s highly competitive banking industry,
core banking technology is a vital element that helps a bank differentiates itself.
This is especially true on the retail front, and allows banks to offer many new
technology driven channels to customers such as ATMs and Internet banking, thus
pioneering the concept of Anywhere Banking, and eliminating the concept of
branch banking. With features like real-time transaction processing coming into
effect, customers can experience the benefits of “real-time banking” and no longer
need to wait days or weeks for their transactions to be completed. Another key
advantage of technology is the significant decrease of product development and
testing lead time, leading to faster launch of new products for the bank – enhancing
the organization’s innovativeness and agility.

Statement of the Problem


Core banking is a modular consumer, corporate and trade finance solution
delivering business agility, minimized risk and lower Total Cost of Ownership
(TCO). It's a highly scalable new generation solution that addresses both the back
office and front office requirements of banks in a seamlessly integrated manner.
This extensively parameterisable solution offers 24x7 operations, powerful STP
and workflow capabilities, multiple channel integration frame work and supports
multi-currency, multi-lingual and multi-entity functionalities. The services oriented
architecture along with the unique Extensibility tool kit and layered architecture
ensures unparalleled flexibility and ease of integration. The solution comes with
integrated banking CRM and alerts’ capability enabling banks to create a rich and
differentiated value proposition for their customers.

Objective of the Study


 To know how the Introduction of Technology has revolutionized the
functioning of banking industry in India

 To understand the whole concept of Core Banking Solutions

 To know the benefits of ERP Implementation in the banking industry in India

 To know how CRM practices have benefited banking industry in India

Scope of the Study

The study will allow for the identification of the various inadequacies in the Core
Banking Solutions as well as identify the various causes for these inadequacies.
This will be important in being able to develop control or corrective measures for
the inadequacies and to ensure that the implementation falls back on line and that it
meets the objectives it was previously set to achieve. The inadequacies of Core
Banking Solutions have largely been contributed by lack of initiative of top
management. For any successful implementation of a project or policy roll out, the
management has a huge influence. The decisions taken and the support extended to
implementation staff are very critical
Methodology
The research will be done to understand the Core Banking Solutions and the
perception of customers regarding it. Hence it will be necessary to conduct a
research on the process. The research design used in this research will be
Exploratory Research Design.

Explanation of the Method


A Research Survey will be performed among 50 Respondents (10 officials + 40
Customers) to understand the Core Banking Solutions. The technique of Random
Sampling will be used in the analysis of the data. The sample will be collected
from all the departments of the organization.

No of Respondents
50

Location of Study
New Delhi

Method to classify data


Primary Data

The primary source of data will be scheduled questionnaire


Secondary Data

The secondary source included brochures, annual reports, magazines, employee’s


handbook, magazines and journals
Method you will use to present the data
The data will be analyzed through statistical methods. Simplex percentage
analysis will be used for analyzing the collected data.

Simplex percentage analysis:

Percentage analysis will be the method to represent raw streams of data as a


percentage (a part in100‐ percent) for better understanding of collected data.

Graphs:
Graphical representations will be used to show the results in simple form. The
graphs will be prepared on the basis of data that will be received from the
percentage analysis

Chapterization Scheme
This research project consists of six chapters, excluding reference and appendices
list. The chapters are presented below.

CHAPTER 1 Introduction

CHAPTER 2 Objectives & Scope of Study

CHAPTER 3 Literature Review

CHAPTER 4 Research Methodology

CHAPTER 5 Data Analysis & Interpretation

CHAPTER 6 Conclusion and Suggestions

Bibliography
References
1. Kotler, Philips principles of marketing (2016) pp-155-162.

2. Business Research Methods, 6th Ed.: Cooper, Donald R; Schindler, Pamela S.

3. Understanding Consumer Decision Making- the Means-End Approach to Marketing and


Advertising Strategy edited by: Reynolds, Thomas J; Olson, Jerry PP-67

4. Malhotra, Naresh Research methodology (2017) pp-142-152

5. Trochim, M.K. William: Research methods

6. www.wikipedia.com
7. Advanced Database Technologies Dr. N Mamoulis
8. www.infosys.com/finacle
9. Info 330 slides courtesy Mirek Riedewald
10. CN3023, Databases 3, School of Informatics
11. www.ewsolutions.com
12. Data Mining ppt courtesy Denise Ecklund

QUESTIONNAIRE

RESPONSES FROM THE BANK OFFICIALS

1. WHILE CHOOSING AN ERP SOLUTION, WHAT FACTORS WOULD YOU LIKE


TO CONSIDER THE MOST?
 Vendors Credibility ------------------------------ 34 per cent
 Competitive Edge -------------------------------- 15 per cent
 Practical demonstration ------------------------- 40 per cent
 Other factors ------------------------------------- 11 per cent
2. ACCORDING TO YOU WHICH INDUSTRIAL SEGMENT SHALL BE THE MOST
BENEFITED FROM THE ERP SOLUTION?
 Manufacturing ---------------------------
 Retail -------------------------------------
 Transport --------------------------------
 Service sector --------------------------
 Other sectors ---------------------------

3. DO YOU AGREE THAT ERP SOLUTION IS A TECHNOLOGICAL SUCCESS IN


THE INDIAN BANKING SCENARIO?
 Yes ---------------------------------------------
 No ----------------------------------------------
 Do not know/ can not say -------------------

4. WHAT ARE THE MAJOR CHALLENGES TO THE IMPLEMENTATION OF ERP


IN BANKING SECTOR IN INDIA?
 Choice of solution -----------------------------
 Implementation process ----------------------
 Commitment of the Organization ----------
 Others ------------------------------------------

5. FUTURE OF THE ERP IN BANKING SECTOR IN INDIA.


 The boom will continue ------------------------------------
 The boom is a temporary economic situation--------
 Do not know/ Cannot say --------------------------------
RESPONSES FROM THE BANK CUSTOMERS

1. DO YOU USE ONLINE BANKING TO PERFORM BANKING TASKS (E.G.,


CHECK YOUR BALANCE, PAY BILLS, ETC.)?
 Yes -------------------------------------------
 No --------------------------------------------

2. DO YOU USE TELEPHONE BANKING TO PERFORM BANKING TASKS (E.G.,


CHECK YOUR BALANCE, PAY BILLS, ETC.)?
 Yes -------------------------------------------
 No --------------------------------------------

3. WHAT FUNCTIONS DO YOU PERFORM ON ONLINE BANKING?


 Only Balance enquiry -----------------------------------------
 Only Transaction -----------------------------------------------
 Both the above -------------------------------------------------

4. HOW SECURE DO YOU FEEL USING ONLINE BANKING?


 Not at all secure -------------------------
 Not very secure -------------------------
 Somewhat secure -----------------------
 Very secure ------------------------------

5. BETWEEN ONLINE BANKING AND BRANCH BANKING, WHICH ONE DO YOU


THINK PROVIDES MORE FACILITIES TO THE CONSUMER?
 Online Banking ------------------------------
 Branch banking ------------------------------
 Do not know/ cannot say -------------------
6. BETWEEN ONLINE BANKING AND BRANCH BANKING, WHICH ONE DO YOU
THINK PROVIDES MORE SAFETY AND SECURITY TO THE CONSUMER?
 Online Banking ------------------------------
 Branch banking ------------------------------
 Do not know/ cannot say -------------------

7. DO YOU FEEL THAT BANKS SHOULD USE SOME BETTER FORM OF


CONSUMER IDENTIFICATION OR AUTHENTIFICATION FOR THE ACCOUNT
HOLDERS LOGGING INTO ONLINE BANKING?
 Not necessary ---------------------------
 Does not matter ------------------------
 Recommend for it ---------------------
 Strongly recommend for it -----------

8. Some banks are beginning to use a personalized image to authenticate the online
banking site to the user. Each user selects a picture they would like to use, and every
time they login to the online banking site, the picture is displayed by the bank. If the
picture is NOT there, the user will know that they did not reach the bank’s real site.
Would you like to use a personalized image of some sort?
 Yes ------------------------------------------
 No -------------------------------------------
 Do not know/ cannot say ----------------

9. AS FAR AS YOU KNOW, DOES YOUR BANK USE ANY OF THE SECURITY
METHODS MENTIONED BELOW?
 Yes, my bank uses personalized images -----------------------
 Yes, my bank uses tokens or hardware devices --------------
 Yes, my bank uses risk-based authentication, asking additional secret questions for high-
risk transactions -----------------------------
 Yes, my bank uses risk-based authentication, confirming via an automated phone call for
high-risk transactions ---------------------------
 No, my bank does not use any additional authentication mechanism besides standard user
name and password for all transactions ------
 Yes, other ---------------------------------------------------------

10. SHOULD YOUR BANK BE LIABLE FOR FRAUD OCCURRING ON THE


INTERNET BANKING WEBSITE?
 Yes, my bank should be liable in any case --------------------
 No, I am liable for what happens in my bank account ------
 Sometimes, it depends on the case -----------------------------

11. HAVE YOU EVER HEARD OF THE TERM “PHISHING”?


 Yes and I know what it is -------------------------
 Yes but I am not sure what it is ------------------
 No ----------------------------------------------------

12. HOW MANY TIMES A WEEK DO YOU RECEIVE PHISHING EMAILS ON


AVERAGE?
 Once a week or less --------------------
 Two to five times a week -------------
 More than five times a week ---------

13. ARE YOU LESS LIKELY TO SIGN UP OR CONTINUE TO USE YOUR BANK’S
ONLINE SERVICES BECAUSE OF THE PHISHING PHENOMENON?
 Not at all less likely -----------------------------
 Somewhat less likely ---------------------------
 Very less likely ---------------------------------
14. DO YOU AGREE THAT BANKS STRONGLY ADDRESSING THE SECURITY
ISSUES WILL HELP TO BOOST E- BANKING IN INDIA?
 Yes ---------------------------------------------
 No ----------------------------------------------
 Do not know/ Cannot say ------------------