Corebank is a customer-centric, real time, relational database solution that provides a 24x7 continuous processing solution for global banks and supports a wide range of customer, product build, deposit, lending and payment functionality for the retail banking environment. Based on IBM’s Information Framework Financial Services Data Model (FSDM), Corebank’s application architecture supports a component-based business model and is extremely efficient at re-using software components, thereby reducing complexity, maintenance effort and development risk.

Corebank’s robust business functionality can be delivered in COBOL on the mainframe zSeries platform as well as in a J2EE environment on either UNIX pSeries or mainframe zSeries. Corebank is the world’s first platform-independent core processing solution based on J2EE technology. This advanced technology infrastructure and world-class business functionality provide financial institutions a competitive advantage in an ever-changing global marketplace.

The Corebank Solution

Corebank is delivered as a set of integrated core banking components that are then tailored to fit the institution’s individual business requirements. These components can be easily re-configured as business requirements change, protecting the organization’s strategic investment and maintaining a unified business approach.

Corebank components include:

• Corebank Financial Institution Infrastructure
• Corebank Product Build 
• Corebank Customer Management and Customer Overview 
• Corebank Account Administration 
• Corebank Payments 
• Corebank Management Information 

Corebank can bring significant benefits to the organisation. Corebank can:

• Enable the organisation’s Customer Relationship Management (CRM) strategy by providing a robust operational customer database and customer administration.
• Provide cost savings and improved customer service through simplified account administration.
• Support portfolio growth with a fast-track Product Build component that creates flexible financial products, providing the capability to build products in line with the prevailing market conditions.
• Deliver speed to market in terms of product development with support for a wide range of account types online in real-time.
• Facilitate increased productivity and reduction of errors through components that automate calculation of complex fees and interest rates.
• Provide full multibank and single-bank operations, including multilanguage support, to support mergers and acquisitions and other branding strategies.
• Support multicurrency operations.
• Provide increased business and operational efficiency with true 24x7 operations.
• Generate accounting and management information from operational data for compliance, risk management and profitability analysis.
• Provides the opportunity to rationalize processing infrastructure with resulting cost reductions and increased operational resilience.
• Provide data structures and user-exits to extend Corebank’s functionality to support bank-specific needs, thus reducing maintenance and upgrade costs.