Corebank

The Corebank Core Framework is an architectural framework and suite of robust enterprise business components. Corebank enables financial organizations to deliver competitive solutions focused on customer insight, superior service and world-class products. Based on the IBM® Information Framework Financial Services Data Model (FSDM), Corebank’s enterprise components are proven, real-time, continuous-processing, highly scalable, open platform solutions for retail banks and processors with in-house IT core banking renewal objectives.

Corebank Core Framework can bring significant benefits to the organization:

• Supports the phased introduction of new functionality to realize immediate business benefits while co-existing with legacy systems
• Enables revenue generation with creation of sophisticated, customer-centric products
• Improves customer retention and customer experience with a robust operational customer database and 360-degree customer view across the enterprise
• Enables core system renewal as a series of transformative innovations, reducing risk and investment while “future-proofing” core processing  
• Supports IT self-sufficiency for core transformation with robust, industry-standard JEE framework and business components
• Protects infrastructure investment with platform independence, reducing IT and operational expenses

Corebank components support these business domains:

• Enterprise Customer – Manages extensive real-time master customer and prospect information in an operational data store. Presents a consistent, complete view of the customer relationship in any channel for customer relationship management.
• Product Factory – Administers enterprise products, packages, product catalogue, business rules, options for regional requirements, and flexible fee and interest pricing to streamline product development and increase revenue generation. 
• Account Processing Engine – Controls the account life cycle for a full range of banking products. Processes all financial transactions in real time. Manages periodic payments, retries, intra-day sweeps, and blockages in domestic and foreign currencies. Provides the data for management information, financial reconciliation and reporting.