One of the ways a company can leverage its growth is through mergers and acquisi
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One of the ways a company can leverage its growth is through mergers and acquisitions. There arc two common goals of any M&A; transaction. In addition to higher revenue, companies also expect to be able to reduce expenses by eliminating redundant facilities, systems, and staff. Often one of the largest deterrents to achieving these efficiencies comes from difficulties encountered in the integration of their IT systems. Consider the following two scenarios and enumerate the types of challenges you would expect to encounter in integrating the software systems. a. A hardware manufacturer acquires its largest competitors b. An international bank acquires a bank in a new countryExplanation / Answer
Core banking solutions is jargon utilized in banking circles. The advancement in technology, particularly net and knowledge technology has light-emitting diode to new ways that of doing business in banking. These technologies have reduced manual add banks and increasing potency. The platform wherever communication technology and knowledge technology area unit incorporate to suit core wants of banking is understood as core banking solutions. Here, pc software package is developed to perform core operations of banking like recording of transactions, record maintenance, interest calculations on loans and deposits, client records, balance of payments and withdrawal. This software package is put in at totally different branches of bank then interconnected by means that of pc networks supported telephones, satellite and therefore the net. It permits the banks customers to work accounts from any branch if it's put in core banking solutions.
Gartner defines a core banking industry as a back-end system that processes daily banking transactions, and posts updates to accounts and alternative money records. Core banking systems usually embody deposit, loan and credit-processing capabilities, with interfaces to book systems and news tools. Core banking applications area unit usually one among the most important single expense for banks and inheritance software package area unit a serious issue in terms of allocating resources. Strategic defrayal on these systems is predicated on a mixture of service-oriented design and supporting technologies that make protrusile architectures.
Many banks implement custom applications for core banking. Others implement/customize industrial ISV packages.[2]
While several banks run core banking in-house, there area unit some that use outsourced service suppliers in addition. There area unit many Systems integrators like cognizant Technology Solutions, EdgeVerve Systems restricted, Capgemini, Accenture, IBM and TCS that implement these core banking packages at banks.
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