Core Banking refers to core banking business and cross-divisional functions such as account management, payment transactions, lending and asset/liability management with the management of external loan, current account, time deposit and savings accounts as well as internal (counter) accounts with the underlying processes and postings. This is supported by liquidity management, overall bank management, controlling and accounting, accounting and statutory reporting requirements as well as master data and contract management.
Business areas and divisions as well as the corresponding terms are not always clearly documented and clearly defined in the market. WEPEX generally combines retail and corporate banking, lending, retail banking, private banking, commercial banking and wholesale banking etc. under Core Banking.
Processes and systems must be continuously developed further to meet the high demands of customers and regulators.
All-in-standard core banking systems typical in the market are e. g. OSplus (savings bank financial group), Agree / Bank21 (Fiducia/GAD), Avaloq, T24 (Temenos), SAP, Core24 (Kordoba), TCS (Tata), MidasPlus (Misys), Konto3000 (CSC) and so on. Of course, there are numerous special systems that perform individual functions, both as standard systems from software manufacturers and as individual banks’ own developments.
Selected projects that we have carried out in this environment are listed below:
- German big bank: Advice on the renewal of the core banking process and core banking system landscape (establishment of a comprehensive program management manual, definition of governance and committee structures, control and reporting processes, bundling of projects into programs)
- German big bank Sub-project management for the standardization of core banking and payment systems (introduction of a central core banking system and replacement of local applications in 34 foreign locations)
- International commercial bank: Optimization of business partner master data processes, standardization of client codes, extensive centralization of responsibilities, synchronization of all relevant systems along the value-added chain with the central master data system, comprehensive expansion of master data for internal and external requirements.
- Cooperative banking group: migration of credit accounts to a central system for better identification and calculation of values and risks
- Cooperative banking group: management of the technical specifications and implementation for further developments at the front workplaces in the primary banks.