Cooperative banks need to move beyond basic Core Banking Solution (CBS) functionalities and focus on customization, regulatory reporting, and data management to remain future-ready, said Adil Gandhi, CEO of Prime Cooperative Bank, during a panel discussion on Core Banking Modernization for Cooperative Banking at the Summit held in Lucknow on Saturday.
Gandhi observed that while CBS vendors initially focus on product sales and transaction processing, banks eventually face growing demands related to regulatory compliance, reporting, and data management.
“Most banks begin with basic CBS functions, but over time requirements become far more complex. Regulatory reporting has emerged as a major challenge,” he said.
Sharing his bank’s experience, Gandhi said Prime Cooperative Bank formed a dedicated five-member team to understand and implement the Reserve Bank of India’s evolving data-reporting requirements.
“The new RBI data requirements were initially painful, but we developed customized reports to meet those expectations. Today, whenever the regulator seeks information, we are able to generate and provide the required data efficiently,” he noted.
Gandhi stressed that cooperative banks must continue investing in technology, data capabilities, and system customization. According to him, modern CBS platforms should not only facilitate transactions but also support regulatory reporting, data management, and operational efficiency in an increasingly data-driven banking environment.
During the event, Gandhi was also honoured with the Best MD/CEO of the Year Award in recognition of his exemplary performance at the summit.