502 branches of Sonali Bank get Core Banking Systems

Sonali Bank Limited installed Core Banking Systems (CBS) in its 502 branches across the country to facilitate quick real time online services.
Earlier on April 9, the bank signed a contact with the Bank and Financial Institutions Division of Ministry of Finance to install CBS in its 500 branches in 2015 as a part of Key Performances Indicators (KPI), a press statement said yesterday. The bank has a plan to complete installation of CBS in its 1207 branches by the year of 2016, it added.
CBS records transactions, maintain customer information, calculate interests on loans and deposits.
The data, instead of huge ledgers, are stored in databases in digital form. The same software can be installed in various branches of a bank and can be interconnected through the internet or telephone lines to form a core banking network of the bank.
Through the service, a customer can operate his or her account from any branch of a bank and if the bank has internet banking or ATM facilities, then operation of any account is possible from virtually anywhere.

502 branches of Sonali Bank get Core Banking Systems

Sonali Bank Limited installed Core Banking Systems (CBS) in its 502 branches across the country to facilitate quick real time online services. Earlier on April 9, the bank signed a contact with the Bank and Financial Institutions Division of Ministry of Finance to install CBS in its 500 branches in 2015 as a part of Key Performances Indicators (KPI), a press statement said yesterday. The bank has a plan to complete installation of CBS in its 1207 branches by the year of 2016, it added. CBS records transactions, maintain customer information, calculate interests on loans and deposits. The data, instead of huge ledgers, are stored in databases in digital form. The same software can be installed in various branches of a bank and can be interconnected through the internet or telephone lines to form a core banking network of the bank. Through the service, a customer can operate his or her account from any branch of a bank and if the bank has internet banking or ATM facilities, then operation of any account is possible from virtually anywhere.