In Bangladesh, Core Banking Software (CBS) is a crucial component for banks and financial institutions, automating processes, centralising operations, and enhancing service efficiency. With the financial landscape evolving towards digitalisation, CBS systems have become indispensable for operational agility and customer convenience. However, with these advantages comes a heightened risk of cyber threats, which poses significant challenges for banks and financial institutions.
OVERVIEW OF CORE BANKING SOFTWARE (CBS) IN BANGLADESH: Core Banking Software refers to the suite of applications used by banks to facilitate day-to-day transactions, account management, loans, deposits, and more. Leading commercial banks and financial institutions in Bangladesh use various CBS platforms such as Temenos, Flexcube, and Finacle, while some institutions have developed proprietary solutions tailored to their specific needs.
The adoption of CBS enables banks to streamline services, reduce operational costs, and ensure real-time updates across different branches and ATMs. It also supports multiple channels, including internet banking, mobile banking, and agency banking, creating a seamless…
