Automated banking system
Automated banking system
The automated banking system (ABS) is the central IT system of the bank, ensuring the execution of all key operations: from opening accounts and processing transactions to calculating interest and accounting. This is the technological "heart" of the bank, without which it is impossible to launch a financial institution and obtain a banking license. The ABS ensures the continuous operation of all departments - front office, back office, treasury, accounting and compliance department, synchronizing data and processes in a single information core.
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Automated banking system is a mandatory component for the functioning of any bank. Its presence is a basic requirement of central banks and regulators for obtaining a license to carry out banking activities.
It covers the following key processes:
- Maintaining client accounts and managing products (deposits, loans, transfers);
- Processing all transactions — both retail and corporate;
- Automatic calculation of interest, commissions, fines and taxes;
- Generation of transactions, transaction journals and accounting reports;
- Maintaining double entry, automatic closing of days/months/years;
- Preparation and submission of regulatory and management reports;
- Support for multicurrency, interest rate policies, tax rules.
The system is critical for the following divisions of the bank:
- Front office (work with clients);
- Back office (cash transactions, support);
- Treasury and financial control;
- Accounting;
- IT department;
- Risk management and compliance department.
The main owner of the system is the IT director (CTO) or CIO together with the operational unit. In matters of compliance with regulatory requirements, he interacts with the CCO (Chief Compliance Officer) and CFO.
What strategic objectives do the proposed solutions solve
Guarantees the stable operation of all key banking processes.
Guarantees the stable operation of all key banking processes.
Ensures compliance with Central Bank requirements and financial reporting standards.
Reduces errors and duplication of information between systems.
Reduces costs by automating routine operations.
Enables rapid adaptation to legislative changes and the introduction of new products.
Make working with documents simpler and faster
Who are the solutions suitable for?
Results after solution implementation
Reducing fines for violations of reporting and regulatory requirements to zero.
Reducing costs for IT support and maintenance by up to 25%;
Reduction of operating personnel costs by 30–40%;
Increased confidence among regulators, investors and auditors;
Accelerating digitalization and readiness for Open Banking
Supporting flexibility in launching new banking products.
Centralization of all data, improvement of the quality of analytics;
Easy to scale through modularity and API integrations;
Stability and fault tolerance – minimizing technological risks.
Processes are optimized, routine operations are automated, and employees have more time for truly valuable tasks.
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FINEEO CS
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BRB
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