BUID: A Virtual Agent to Become Robust Integrated Core Financial System

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Vaibhav R. Bhedi
Ujwal A. Lanjewar, Shrinivas P. Deshpande


Today’s core banking system is a comprehensive, integrated yet modular business solution that effectively addresses the strategic and day-to-day challenges faced by banks. It is highly parametrical providing much-needed flexibility to innovate and adapt to a dynamic environment. The current core banking system is comprehensive and unified customer data repository with capabilities to educate and empower customers. With core banking solution, banks can meet the challenges of managing change, competition, compliance and customer demands effectively. But core banking system doesn’t know the customers opened number of accounts in assorted banks under one roof. This paper offers the concept of BUID (Bank unique Identification) code to unhide customer details and transaction from income tax department, government and overall financial system. The BUID can be easily unified in current financial core system. It will be better alternative of pan card. The BUID will be well-built to execute a position to augment the present financial core system.

Keywords: Bank Unique Identification (BUID), Bank Account Number (BAN), OLTP, OLAP, 7-tier Architecture.


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