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It will reduce the overall operational costs and improve the efficiency and profitability, flexibility of operations, improve competencies and is highly growth oriented.
I think it will reduce overall operations cost and also by providing efficient, expediency and competitive services to the customers at the end as well as on part with the competitors.
Banks operates on huge data. In the absence of a system to maintain all the data at one centralized location, getting the data and analyzing the same involves huge operational cost. The same is reduced to a large extent on implementing core banking system as the data can be stored at a centralized location and the same can be easily accessed. Further, reconciliation and other manual works involved are avoided as the core banking system easy solution for everything.
