Is it possible to bind fields in SugarCRM CE version?
For example I have a customized Redemption module with an 'Points' Field and another 'Points Redemption' field at Customer module, is it possible by using studio that when I create a new redemption for a particular customer it will be updated at Customer module on that customer's profile?
Yes, and I can think of two good ways of doing so. The first, easier way, is to use Sugar Logic. For paid editions of SugarCRM, Sugar Logic offers a Javascript-esque style formula builder which allows simple summations and math functions and the ability to pull in related information.
More on Sugar Logic here: http://support.sugarcrm.com/02_Documentation/04_Sugar_Developer/Sugar_Developer_Guide_6.5/03_Module_Framework/Sugar_Logic and here: http://developer.sugarcrm.com/category/sugar-logic/
The second method will be more code-centric. You could place a series of logic hooks on the Customer and Redemption modules such that saving or adjusting the relationships will adjust a field on the Customer module.
