An Introduction to Banking Technology
Tim Walker, Lucian Morris · 2021
This chapter looks in more detail at the technology used in banking. It covers various historical technologies that the readers may still come across as well as those technologies that they would be implementing in a new banking institution or using to replace legacy technology in an existing institution. The chapter descries simple bank that offers deposit accounts (including current accounts), unsecured loans and secured loans (including mortgages) to retail and business customers through a single branch. The core banking platform must enable different account types to be defined and therefore hold information on the characteristics of each account type, e.g. interest rates and features available. The chapter also covers how banking database systems have been architected and how users access the applications that in turn use databases. It further covers the basics of how a Customer Information Control System mainframe platform works.