It is a term for a system that amasses and evaluates fiscal informations with the intent of doing good fiscal direction determination in runing the concern. It keeps path of house ‘s fiscal assets and fund flows. The cardinal intent of the fiscal information system is to accomplish the house ‘s fiscal demands as they come due, utilizing the least sum of fiscal resources dependable with an conventional border of safety. Outputs produced by the system include accounting studies, hard currency flow prognosis, working capital studies, runing and capital budgets, and assorted What-If Analysis studies.
A bank is a fiscal go-between that accepts sedimentations and controls those sedimentations into loan activities, either through capital markets or straight. A bank bonds clients with capital to clients excesss with capital shortage.
Servicess offered by a bank:
nest eggs and transactional histories
and many more.
Corporate Banking – It is the wide name given to diverse banking services that large companies, authoritiess, or other big establishments need in order to work twenty-four hours to twenty-four hours.
Retail banking – It refers to banking in which banking organisations execute dealing straight with consumers, instead than corporations or other Bankss.
Founded: – August 1994
Laminitis: – Bibu Verghese
Headquarterss: – Bombay, India
Cardinal people: – C.M. Vasudev ( Chairman )
AnandDubey ( MD )
HDFC Bank Ltd. is a first Indian fiscal services company based in India, formed in August 1994, after the RBI allowed puting up private sector Bankss. The Bank was promoted by the Housing Development Finance Corporation, one of the taking lodging finance company ( established in 1977 ) of India. HDFC Bank has 1,725 subdivisions and over 4,727 ATMs, in 780 metropoliss in India, and each and every subdivision of the bank is synchronized on an on-line real-time footing.
Forbes magazine has selected HDFC Bank as one of Asia Pacific ‘s top 50 companies. It was chosen from among 500 publically traded ( listed ) organisations in Asia Pacific with net incomes or market capitalisation more than $ 5 billion ( INR 22,330 crore ) .
Asset Management Mortgages
Recognition Card games
HDFC Bank ‘s aim is to go a First Indian Bank. The mission is to set up sound consumer franchises across distinguishable concerns so as to be the favoured supplier of banking solutions for mark retail and sweeping consumer subdivisions, and to achieve healthy growing in profitableness, consistent with the bank ‘s hazard appetency. The bank is dedicated to keep the top degree of corporate administration, professional unity, ethical criterions and regulative conformity. HDFC Bank ‘s concern doctrine is based on four nucleus values – Customer Focus, People, Operational Excellence, and Product Leadership.
Business Needs / Challenges
HDFC Bank has a immensely automated environment in footings of IT with considerable investing in finest available engineering to make greatest banking substructure. Like any big bank HDFC bank besides has a extremely varied engineering environment including several different applications running on a assortment of platforms.
Over the clip a web of corporate applications each fulfilling a peculiar “ concern service ” has materialized around the Core Banking system. Traveling frontward, HDFC Bank came across many challenges:
The “ satellite applications ” at that clip were based on old engineerings and were non suited to run into the of all time – turning client demands. “ Satellite Applications ” have grown quickly around the nucleus banking system.
Operational Management for these packages was besides a large challenge ( from the point of position of Data Center )
Care of these packages was besides a huge attempt as some of these packages were hosted on Personal computers and little graduated table databases.
HDFC Bank realized that with the purpose of enlargement in the hereafter, they should make a ‘Common Framework ‘ that combines the internal and external services together. By agencies of this model, ‘business services ‘ will be uncovered within HDFC Bank and will mean the person services below.
HDFC Bank began seeking at assorted platforms and engineerings. They shortly understood that non any of the bing market applications could run into their sole demands of an advanced, flexible and trim ‘Service Oriented Architecture ( SOA ) ‘ which was besides good inside their budget.
Besides, the bank was non eager to travel by any peculiar package seller ‘s position of how to travel about happening a solution and besides purchase a large and extremely expensive platform. Alternatively they decided to hold a customized version of the package.
HDFC bank opted for separate packages in corporate and retail banking as there was non a individual application that met both their concern necessities.
For corporate banking a HDFC Bank started with MicroBanker and so changed to Flexcube in 2002. They use Flexcube UBS, which functions on a Compaq Alpha box-GS160. This database was besides on DAS and was moved to SAN in December 2002. The bank utilizes SAN solutions from Hitachi Data Systems.
For retail banking athe bank utilizations Finware from i-flex solutions ( now known as Oracle Financial Services package )
Retail banking package – Finware
Finware is a package engineered by i-flex solutions ( now known as Oracle Financial Services package ) .
Finware ( HDFC ‘s nucleus banking system ) comprises of several faculties like
Time deposits ets.
It follows client-server architecture with distributed processing. Sybase was the RDBMS running on assortment of Platforms
It creates spool files holding statements for different class of consumers. Along with these files, Finware besides offers a drumhead / heading file that includes information about the single declarations within the bobbin files. The package generates files to be send to Printers ( and to Couriers ) that so direct out the statements to the Customers. System besides allows trailing of the statements printed and couriered to Customers.
Finware ‘fast parts ‘ – This is one characteristic of Finware which allows faster processing. It has certain cutoff screens which gives all the inside informations of the peculiar faculty.
Corporate banking package – FlexCube Core Banking
FlexCube is the flagship package of Oracle Financial Services. It provides the undermentioned merchandises.
A· Oracle FLEXCUBE
A· Oracle FLEXCUBE Core Banking
A· Oracle FLEXCUBE Universal Banking
A· Oracle FLEXCUBE Investor Servicing
A· Oracle FLEXCUBE Private Banking
A· Oracle FLEXCUBE Lending and Leasing
A· Oracle FLEXCUBE Islamic Banking
A· Oracle FLEXCUBE Direct Banking
A· Oracle FLEXCUBE Enterprise Limits and Collateral Management
FLEXCUBE is a complete, integrated yet modular nucleus banking solution that provides all the demands of a current fiscal administration and its legion concern sections. FLEXCUBE supports Retail and Corporate banking, Treasury, Investment and Mutual Fund demands.
FLEXCUBE is a multi-currency system, built on the dominant base of a flexible functional architecture.
The nucleus faculties include: –
User-definable multi-currency General Ledger a This supports boundless degrees for history consolidation and studies.
Customer Information System a This takes all relevant consumer information and provides good support for CRM services, relationship etc.
Management Information System a Provides complete studies at several degrees including concern section, client, subdivision, merchandise etc.
Risk Management arisk direction with powerful online, centralised trailing of multi-currency client bounds across the client ‘s exposure,
Other Important faculties are: –
Loans Application Processing System
Management Information System ( MIS )
Corporate Banking Faculties
Integrated Security Management System
Telebanking / Call Centre Interface
HDFC Bank confronting tough competition from long-established authorities Bankss, HDFC Bank was in desperate demand of a strong nucleus banking solution with the capableness to manage immense volumes of minutess in support of speedy growing across a broad scope of merchandises and channels. The bank selected the application Oracle FLEXCUBE ( once i-flex FLEXCUBE ) as its strategic engineering spouse to carry through its complete corporate application package demands. Using Oracle FLEXCUBE Core Banking, HDFC Bank has confined major market portion by publishing new merchandises, such as ATM cards, public-service corporation payments, call centre, phone banking, cyberspace banking, multibranch entree, and debit cards. Consequently, HDFC Bank has turned out to be India ‘s first private sector bank and has attained new highs in the field of banking.
Top 5 iRankings of banking packages – October 2010
Application System Software
T24 ; T24 for Microfinance and Community Banking ( MCB ) once eMerge ; GLOBUS ; TEMENOS CoreBanking ( TCB )
Oracle Financial Services Software ( once i-flex Solutions )
Flexcube ; Microbanker ; Finware
FIS | Fidelity National Information Services ( FNIS )
Corebank, FIS Alltel Systematics, Sanchez Profile, Horizon ACBS ( Advanced Commercial Banking System ) , Kordoba, ALLprofits, MiSER, BancPac, Metavante
TCS FS – Tata Consultancy Services Financial Solutions – once FNS
BaNCS – TCS BaNCS ( once FNS Bancs – Financial Network Services B @ NCS-24 )