Finacus is the finest company with the top core banking solutions & services provider in India. A core banking solution brings with all the features that will support a bank's development in the highly competitive banking market. With a supporting technology, we help to streamline existing business processes.
Finacus provides the Top Core Banking Solutions For Small Banks which brings together all the features that will help the growth of a bank in the highly competitive business of banking.
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Core Banking Solutions Market The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Core Banking Solutions Market.
The growth sectors of the Core Banking Solutions Market are identified with precision for a better growth perspective.Core banking is defined as the service that is delivered by a group of networked bank branches to customers.
These services include all important banking activities like account access, debts, loans, money transactions, and payments.
Market Research Future (MRFR) has published and released a research report about the global core banking solutions market that estimates growth for this market with 4% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023.
It observes the strategies of the key players in the market and follows the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and the developments (R & D) in the market.The major factors that are enhancing the market growth for core banking solutions include cost-effective solutions, customer demand for advanced banking technologies, and the growing need of operating customer accounts from a single server.
The restraints that can restrain the growth of the market include lack of awareness among enterprises of modern banking technologies and no synchronization between core banking solution and global industry expectations.The global core banking solutions market has been segmented on the basis of deployment, solution, service, and lastly, region.
The recent biggest ATM security data breach in India is an alarming situation where banks need to focus on safeguarding their systems to avoid similar breach in future.What is the Current Scenario?3.2 million debit cards in India were “compromised” due to a major security breach, termed as India’s biggest ATM security breach.
The banks denied responsibility for the huge mishap in the Indian banking sector.
Banks floated out SMSes to their customers to change their ATM PINs (Personal Identification Number) and even blocked ATM cards, to avoid further damage.
This episode came to light when banking customers raised complaints about unauthorized usage of their money from locations of China and US.
About 2.6 million cards on Visa and Mastercard platform while 6 lakhs on RuPay, asper the reports.
Of all the banks that suffered a hit, SBI, HDFC Bank, ICICI Bank, YES Bank and Axis Bank had the worst.How ATM security breach Happened?Hitachi provides ATM, POS (point of sale) and other services to white collar banks.
