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“Back offices provide many administrative and support services to the front office of a bank”. What are the functions performed by the back offices in a bank? |
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Answer» Functions of the Back office: The functions carried out by the Back office are: 1. Sending statements to clients on mail and at the addresses provided if required. 2. Resolving clients‟ queries 3. Processing clients‟ standing instructions 4. Checking and Opening Clients‟ accounts as per the details provided. 5. Issuance of cheque books to clients 6. Cheque clearing 7. Positioning for all Bank products viz. cheques, cards, personal loan, mortgage loan etc. |
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