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Developing Core Banking Technology: Evaluation and Perspectives

Pirnia, Mohammad | 2013

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  1. Type of Document: M.Sc. Thesis
  2. Language: English
  3. Document No: 44246 (55)
  4. University: Sharif University of Technology, International Campus, Kish Island
  5. Department: Science and Engineering
  6. Advisor(s): Vosooghi Vahdat, Bijan
  7. Abstract:
  8. Revolutionary developments in marketing, information and communications technology continue to transform the banking and financial industry. The objectives of this thesis are mainly to examine the role and perspective of core banking solutions as the heart of IT department in any financial institution, for addressing requirements of both financial institutions and customers. The study explores criteria for measuring core banking solutions, the time of core replacement in any financial institution and agenda that must be considered in the core banking replacement process.
    Moreover, in this thesis, the core banking solution architectures and the Service Oriented Architecture (SOA) as the most effective implementation architecture have been studied. Core banking solutions are classified in five levels based on main core banking elements. Each bank, with respect to its current and future requirements, must select a suitable solution either by “integrated vendor” or “best of breed” approaches. In continue, the advantages and disadvantages of three implementation methods have been studied.
    Since the requirements of banks and the services that they provide for their customers differ regionally, the popular core banking solutions are listed in the Middle East region. In continue, we study two solutions based on Microsoft Technology and IBM Framework. Finally, Cyclos and MyBanco as open source solutions are studied to provide efficient insight for implementation core banking services
  9. Keywords:
  10. Electronic Banking ; Electronic Payment System ; Services Oriented Architecture ; Core Banking Solution ; Banking Transaction

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