31
Aug
The evolution of core banking systems has had a profound impact on banking operations, revolutionizing the way banks manage their processes, serve customers, and adapt to market changes. Here is a detailed exploration of the evolution and impact of core banking systems: Legacy Mainframe Systems: The early core banking systems were based on mainframe technology, characterized by centralized processing and limited functionality. These systems were primarily focused on transaction processing and basic account management. However, they lacked flexibility, scalability, and integration capabilities, making it challenging for banks to introduce new products, adapt to changing customer needs, and respond to market…