Method and system for limiting risk in banking transactions

A system for providing banking solutions by limiting risk in provision of one or more banking services to customers of a banking services provider, the system comprising:

• a central application server installed at central facility of the banking services provider, the central application server comprising a primary software application configured to provide the one or more banking services to direct customers of the central facility and to customers of one or more local branches, wherein the primary software application comprises executable files having business logic for running one or more software processes for provisioning the one or more banking services;
• a central stand-in server configured to provision the one or more banking services to customers during End of Day processing, wherein the central application server transfers control to the central stand-in server during End of Day processing;
• a web server configured to enable customers of the banking services provider to access the one or more banking services through the central application server;
• a connector application configured to interface the central application server with a plurality of delivery channels and a plurality of electronic applications;
• and
• one or more local stand-in servers installed at the one or more local branches for provisioning the one or more banking services to customers of the one or more local branches when connectivity between the one or more local branches and the central application server and between the one or more local branches and the central stand-in server is unavailable, wherein the one or more local stand-in servers provide the one or more banking services by implementing risk limiting logic, further wherein risk limiting logic is implemented by utilizing an allocated risk limit value corresponding to each customer while authorizing banking transactions.