Core Banking

Core banking services are typically provided by banks, financial institutions, or other organizations that offer banking services. These services include a variety of financial products and services, such as:

• Account management: Core banking systems allow customers to manage their accounts through a variety of channels, including online banking, mobile banking, and traditional banking services.
• Payments and transfers: Customers can make payments, transfers, and other transactions using the core banking system, which provides real-time processing and immediate updates to account balances.
• Loan management: Core banking systems are used to manage various types of loans, including personal loans, home loans, and business loans. Customers can apply for loans, receive approval, and manage their loans through the core banking system.
• Investment management: Core banking systems may also offer investment management services, allowing customers to buy and sell stocks, bonds, and other financial instruments.
• Customer relationship management: Core banking systems provide tools for managing customer relationships, including customer data management, customer segmentation, and customer communication.

Record Room

A record room in a bank is a dedicated space where important documents and records are stored and managed. These records may include account information, loan documents, legal contracts, customer information, and other important documents related to the bank's operations.

The purpose of a record room is to ensure that all records are stored securely and can be easily accessed when needed. This is particularly important for banks, which are required to maintain accurate records for regulatory and compliance purposes.

The record room may be managed by a designated staff member or a team responsible for ensuring the safekeeping and maintenance of the records. The records may be stored in physical form, such as paper documents or microfilm, or in digital form, such as electronic records or data backups.

Access to the record room is usually restricted to authorized personnel only, and security measures such as cameras, alarms, and access controls may be in place to prevent unauthorized access or theft.

Daily Services

Deposits and withdrawals: Banks allow customers to deposit money into their accounts, as well as withdraw money as needed.

Check cashing: Banks may cash checks for their customers, allowing them to access funds without needing to deposit the check.

Transfers and payments: Banks provide a variety of transfer and payment options, including wire transfers, electronic fund transfers, and bill payments.

Account management: Banks offer a range of account management services, such as online banking, mobile banking, and telephone banking.

Foreign currency exchange: Banks may provide foreign currency exchange services for customers who need to exchange currencies for travel or business purposes.

Credit and debit cards: Banks issue credit and debit cards that can be used for purchases and cash withdrawals.

Loans: Banks provide various types of loans, including personal loans, home loans, and business loans.

Investment services: Banks may offer investment services, such as brokerage accounts and investment advice.

Insurance services: Some banks provide insurance services, such as life insurance, health insurance, and travel insurance.

Lockers

Lockers are safe deposit boxes provided by banks for their customers to store valuable items, documents, and other personal belongings in a secure and confidential manner. Banks typically offer locker services for a fee, and customers can choose the size of the locker based on their specific needs.