What is core banking and how does core banking work?

Core banking are services provided by banks where customers may access their accounts and perform transactions from any branch of the bank. A core banking system helps address this and the day-to-day challenges faced by the banks.

Core Banking is the business conducted by a banking institution with its retail and small business customers.  Larger businesses are managed via the corporate banking division of the institution. Core banking basically is depositing and lending of money