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‘Core’ banking?

Published Jul 24, 2013 07:14am


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I AM an account holder of a branch of the National Bank of Pakistan. It is run fairly efficiently, and I have had no complaints.

The process has been simple: I would hand in my cheque at a counter, the man would process it in minutes, and I would take the cheque to the next counter where the teller would give me the money in a couple of minutes.

Over a fortnight, the process has been changed. The same man posts the cheque and is also the teller. When I went there last time, there was a long queue and I just couldn’t understand what the big deal was and why one man was being called upon to do both the jobs.

I talked to the manager, who appeared highly frustrated. He said he was fed up with the NBP headquarters’ orders that the same man should clear the cheque and make payment. This was, he said, known to be ‘core banking’.

If this is ‘core banking’, we rather not have it. Of what use is it when it wastes the client’s time?


Comments (4) Closed

p r sharma Jul 24, 2013 09:53am

Core banking means that you are the customer of the bank and not of a particular branch.. you can withdraw money/ transact business from any branch anywhere in the country/ abroad. Is it not facilitating the customers. So far as payment by the same man is concerned higher responsibilities is given to him (with additional allowances/ pay hike).with a single widow system where you need not go to different counters ( this also consumes time) and customers is better served. As there is a queue is observed by the author there is a dislike but if the crowd is more ,the local management can arrange more such counters for speedy services ( provided there is resources/ manpower for it) it will lead to optimum utilization of the man power sparing the hitherto officer passing the cheques for other banking activities. This will ultimately reduce the operational cost of the bank . Why not get a n ATM card anduou may not need to go to a bank and money can be withdrawn from ATM booth any time i.e. 24 hours . Core banking has been mis defined and presented to the author. Core banking is prevalent all over the globe for banking transactions. In absence of core banking You can not have debit cards / no ATM no utility payment , no booking an air/ railway / bus ticket of distant places at the click of a button ,sitting in the comfort of home.. Cheers.

Ali Jul 24, 2013 11:06am

Wow -- you need a bank account to live in Pakistan.

sarfaraz Jul 24, 2013 11:45am

Noora kushti. May be the Manager of the Bank tried to convince the account holder. But looks like it could be to reduce "one employee" per branch and reduce expenses. Smart.

RK Jul 24, 2013 12:15pm

The revised procedure at NBP may be termed as "One Stop Teller". There is nothing new: it has been adopted by Banks all over the globe