How do banks and similar institutions manage recurring tasks or automated processes?
Banking
Asked by Question Bot06/Mar/20121 answer
1 Answer
F
Faisal Khan
Answered 06/Mar/2012
Banks have their Core Banking Software. Such softwares are meant to do a wide variety of tasks, including scheduled and repetitive tasks. A core banking software like T24 or Mysys can easily schedule payments and execute them at their pre-determined time with a set of instructions and checks.
For example if payments need to be made from someone's checking account to a utility company on the 5th of every month, this can very easily be scheduled into the T24 / Mysys system
Core banking software run batches (essentially a crude form of CRON jobs) that will do such tasks.
For example if payments need to be made from someone's checking account to a utility company on the 5th of every month, this can very easily be scheduled into the T24 / Mysys system
Core banking software run batches (essentially a crude form of CRON jobs) that will do such tasks.