07 February 2013
Avoid expensive mistakes, learn from the personal experiences of over 66 real-life system replacement projects
Changing a core banking system is probably one of the most complicated and intensive projects faced by IT managers and even the most experienced will approach this task with more than a little apprehension. However, the continual evolution of technology, banking products and regulatory requirements, means a replacement of the core banking system will face every bank sooner or later, regardless of its size, scope of operations and geographical location.
Nowadays, few financial institutions are taking any route other than to purchase a third party solution. Costs of maintaining bespoke or in-house built systems are proving too high, and the functionality of packaged systems has been continuously growing to encompass all but the rarest banking operation.
Core Banking Systems Case Studies contains a thorough analysis of the system conversion process based on the real-life experience of financial institutions around the world, starting with selection, continuing through the implementation phases, to going live with the new system, and analysing the outcome.
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This extensive compilation of case studies presents readers with an independent, unbiased view of the challenges faced by each financial institution with due regard to the specific banking and banking systems markets, the economy, legislation and public awareness in relevant geographies. It explains how various problems and difficulties were overcome and how the required results were achieved (or not) so that similar problems can be avoided in the future. The respondents, who were directly involved in the projects and steered them through highs and lows, offer constructive advice throughout each online case study, drawing on personal experience, making this an ideal resource to ensure success and avoid pitfalls.
There is a broad spread of case study topics covered, from niche activities, such as treasury, consumer lending and asset management, to universal operations (including Islamic banking) encompassing all major banking offerings.
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- Temenos T24 at North Shore Credit Union
- Oracle FSS Flexcube at Friesland Bank
- Avaloq at Liechtensteinische Landesbank
Once you have been able to review this sample content and have seen the quality for yourself, make sure you order access to our Core Banking Systems Case Studies >>
The research undertaken consisted of interviews with managers of banks/financial institutions which had implemented new core banking systems in the recent past. The officers concerned were top tier executives, IT directors, project co-ordinators and managers – those most influential in the change process.
Each case study covers the following areas:
- Drivers: What motivated each institution to change their systems. Was there a strategic objective or were they forced into it for a specific reason?
- Project profile: Details on the the functionality of the system, its scope and scale.
- Selection: How they went about selecting the vendor and system, what resources they used, what process was involved and how long it took.
- Implementation: How they went about implementing the system, how the project was planned, who made up the team, how they worked with the vendor, how they went about data migration, testing the solution and training the users, interfacing it to other applications and again, how long it all took.
- Results: Finally, each case study explores the results achieved and lessons learnt, and what each institution would do differently if they were to start all over again and advice they would give to their peers, as well as their further projects on the agenda.
Core Banking Systems Case Studies will help make the intricate process of a core system conversion a smoother journey, resulting in fewer mistakes along the way and a more cost-, time- and resource-effective operation – with considerably less stress.
In-depth analysis of the core system suppliers profiled in these case studies, and also of their products, can be found in the Back Office Systems & Suppliers Guide.
Other useful research tools from IBS Intelligence include:
- Retail Banking Systems Market Report >>
- Wealth Management Systems Market Report >>
- Treasury & Capital Markets Systems Market Report >>
- IBS Journal >>
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- Banking Definitions Guide
- Core Banking Systems Cost Benchmark 2012
- Core Banking Systems Benchmark 2011
- Core Banking Systems Case Studies
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- Islamic Banking Systems Guide
- Market Dynamics Report 2012
- Middle East Banking Systems
- Payments Systems Guide
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- Risk Management Systems Guide
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Contents of Core Banking Systems Case Studies Online
- About Core Banking Systems Case Studies Online
- Free extract: Drivers for change, selection, implementation and outcomes
- Drivers for change, selection, implementation and outcomes across all case studies (subscription)
- Avaloq Banking System – Liechtensteinische Landesbank (LLB)
- Avaloq Banking System - St Galler Kantonalbank
- BIS BISquit – Belgazprombank
- Callataÿ & Wouters Thaler – UFG-LFP Private Bank
- Callataÿ & Wouters Thaler – Rabobank IDB
- Calypso - Banco Espirito Santo
- Calypso – Rabobank
- CCK Guava – UnionBank of the Philippines
- CFT-Retail Bank – Kaspi Bank
- CFT-Bank – MTS Bank
- CS Ltd B2 – Energobank
- CS Ltd B2 – Volksbank
- Die Software Peter Fitzon OBS – Hauck & Aufhaüser Banquiers
- ERI Olympic – Bank Hapoalim Switzerland
- Financial Software Systems Spectrum – BOS Bank
- Finnova – Direct bank AXA Bank
- FIS ACBS & Systematics – Webster Bank
- FIS Horizon – BankFIRST
- FIS Profile – Government Savings Bank
- FIS & Diasoft Profile & Diasoft FA – Renaissance Credit
- Fiserv Signature – Caja Popular Mexicana
- Fiserv Signature – Bank of Queensland
- Fiserv Signature – Mutual of Omaha Bank
- Harland Financial Solutions Phoenix – National Bank of Kansas City
- ICS Banks – Industrial Development & Workers Bank of Egypt
- Infosys Finacle – Equity Bank
- Infosys Finacle – UnionBank of the Philippines
- Infrasoft OmniEnterprise – Global Banking Corporation
- Infrasoft OmniEnterprise – Lagoon Home Savings and Loans
- International Private Banking Systems – IPBS – Stocks & Securities Limited (SSL)
- Jack Henry Silverlake – Community Bank
- Misys Equation – Rusfinance Bank
- Openlink Findur – Europe Arab Bank
- Oracle FSS Flexcube - Abu Dhabi Commercial Bank
- Oracle FSS Flexcube – Alpha Bank
- Oracle FSS Flexcube – Bank Danamon
- Oracle FSS Flexcube – Chinatrust Commercial Bank
- Oracle FSS Flexcube – DAB Bank AG
- Oracle FSS Flexcube – Friesland Bank
- Oracle FSS Flexcube - Prasac MFI
- Oracle FSS Flexcube – TienPhongBank
- Path Solutions iMAL – Boubyan Bank
- Path Solutions iMAL – UBL Ameen
- Path Solutions iMAL – Europe Arab Bank
- Polaris Software Lab Intellect Suite – Deutsche Leasing
- Polaris Software Lab Intellect GUB – Saigon Hanoi Bank
- SAP Deposits Management & R/3 – MBA Lazard Argentina
- Silverlake Axis SIBS – Commercial Bank International
- Simcorp Dimension – Genesis Investment Management
- Simcorp Dimension – Schroders Investment Management
- Sungard Ambit – DFCC Bank
- Sungard Ambit – MCB Bank
- Sungard Ambit – United Bank Limited (UBL)
- Sungard Ambit – Vietnam International Bank
- TCS Bancs – BNI (Bank Negara Indonesia)
- TCS Bancs – Guangdong Rural Credit Co-operative Union
- Temenos T24 – Alinma Bank
- Temenos T24 – Banco Terra
- Temenos T24 – Bank of East Asia (London)
- Temenos T24 – BforBank
- Temenos - Hypo Alpe Adria Bank/ZIS
- Temenos T24 – North Shore Credit Union
- Temenos T24 – Saudi Hollandi Bank
- Temenos - Swissquote
- Tieto Core Banking Suite – Swedbank
- Tieto Mortgage and Savings Suite – Bath Building Society