SMS Alerts
SMS alert services in banks enhance communication between banks and customers by providing timely notifications, improving transparency, and enhancing security. SMS alert services enhance customer service, security, and financial management by providing real-time information, enabling customers to stay informed and respond promptly to unusual account activity.
- Transaction Alerts
- Balance Alerts
- Bill Payment Reminders
- Security Alerts
- Account Update
- ATM Withdrawals
- Deposit and Interest Information
- Online Banking Activity
- Two-Factor Authentication (2FA)
Core banking functions vary according to the type of bank. Retail banking, for example, is aimed toward individual consumers, whereas wholesale banking is business conducted between banks, and securities trading is the buying and selling of stocks, shares, and other securities. Core banking systems are frequently tailored to specific types of banking. Core banking became possible with the advent of computer and telecommunication technology, which enabled information to be swiftly and efficiently transferred across bank branches. Prior to the 1970s, it took at least a day for a transaction to be reflected in the account since each branch had its own servers, and data from each branch’s server was delivered in a batch to the servers in the data center only at the end of the day (EoD). Most banks switched to core banking programs to support their operations during the next 30 years, where CORE Banking may stand for “centralized online real-time exchange.” This meant that all of the bank’s branches would be able to access programs from centralized data centers. As a result, the deposits
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