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Complete Centralised Solutions - Banking Service

Essay by   •  February 4, 2017  •  Course Note  •  734 Words (3 Pages)  •  4,663 Views

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COMPLETE CENTRALISED SOLUTION (CCS)

INTRODUCTION

CCS is a banking service offered by a group of networked bank branches. Under this, the bank account may be accessed by the customer from any of the member branch office and can perform basic transactions. CCS banking is generally associated with retail banking. Many commercial banks consider their retail client as their CCS banking clients. CCS banking performs basic activities like depositing and lending of money.

Different types of banking functions such as transaction accounts, loan, mortgages and payments are included in general CCS banking. Banks make these services available to their customers across multiple channels like ATMs, internet banking, mobile banking and branches. CCS banking services largely depend upon computer and network technology to allow a bank to centralize its record keeping and allow access from any location. It has been the development of banking software that has allowed CCS banking solutions to be developed.

MEANING

CCS Banking stands for “Centralized Online Real-time Exchange.” It primarily meant that all the branches of banks could access applications from centralized data centres. It means that the deposit made by the customer has been reflected immediately on the bank’s servers and the customer could withdraw the deposited money from any of the bank’s branches.  Hence, a CCS banking system is the software used to support the most common banking transactions.

CCS banking became possible with the advent of computer and telecommunication technology that allowed information to be shared between bank branches quickly and efficiently.

ELEMENTS OF CCS BANKING

  1. Making and servicing loans.
  2. Opening new bank accounts.
  3. Processing of cash deposits and withdrawals.
  4. Processing of payments and cheques.
  5. Calculation of interest.
  6. Customer relationship management activities.
  7. Managing the customer accounts.
  8. Establishing criteria for minimum balances, interest rates, number of withdrawals allowed and so on.
  9. Establishing interest rates.
  10. Maintaining records for all the transactions of bank.

FEATURES OF CCS BANKING

1. Scroll based browser screen.

2. Multilingual operations are possible by CCS banking.

3. Information and operations of daily receivable and payable.

4. Customer ID concept can be implemented.

5. CCS banking facilitates in Data Export Facility.

6. It helps in auto generation of all kinds of charges.

7. It ensures consistent and quick access through normalized data structure.

8. It provides user level based security.

9. It can be used for user configurable printing i.e. Demand Draft, Fixed Deposit Receipts, Pass book etc.

10. Single window operation can be performed through CCS banking.

11. It provides maximum operations and information on hot keys.

12. Remote transactions are available through modem of media.

13. Strong system for bills (bank guarantee and pay orders) are available.

14. CCS banking offers the facility of user wise reminder setting.

15. Standing instructions of any period and effect are possible.

16. All types of Management Information System, RBI returns and statutory reports can be prepared.

17. It ensures secured and authorized signature operations.

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