The first version of Banking Operations System (BOSS) was developed in early 1980s even before “IBM PC” became popular. This version was a back-office solution. Later, in early 1990s an upgraded on-line version was released using Btrieve file management system.
The first user was Shreelaxmi Co-operative Bank Ltd., which extended its implementation to almost all its branches at Ahmedabad. This on-line version has been working successfully at large urban sites as well as a small rural site for over fifteen years.
Now a web enabled version of BOSS is planned to be developed. BOSS is designed to handle operations of the smallest branch to the biggest commercial branch as well as the Head Office of Cooperative banks with demonstrated capabilities to handle more than 10,000 transactions per day in one branch. Using this package, a bank can multiply its business without incurring costs on hiring more staff and deliver superior service to customers.
Benefits / Features
BOSS used the well-known Btrieve file manager. This was chosen over RDBMS for gaining performance and cutting costs. The web enabled version will be based on a RDBMS.
Among other industrial strength features, it allows protection of files with encryption and password.
Only Boss program can access BOSS data files; therefore, security is enforceable and no one can tamper with any data.
Data files in BOSS are managed safely; There is not a single reported incidence of misuse or loss of any data in the fifteen years of its usage.
BOSS envisages maintenance of redundant data to overcome hardware failures/accidental loss.
BOSS allows distribution of tasks among the bank staff consistent with the designation and authority, which the manager wishes to assign to each individual.
As and when it is needed, rights of any user can be expanded or curtailed.
A transaction could be received and signed electronically by the officer before it is treated as being processed. This means flexibility and elimination of printed reports, checking of which is error prone, time consuming and expensive.
BOSS is comprehensive in its scope. It handles all types of accounts: Savings, Current, Fixed Deposit, Recurring Deposit, Loans and Advances.
All daily, periodic and RBI’s statutory reports can be easily generated. BOSS is designed in a way that renders incorporation of new or customised requirements very quickly and economically.
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