IBS Journal - How to Run a Core Banking Project

A lot has been written on a wide range of aspects of running a core banking project and these subjects have been discussed at length more than once at various banking technology events, and yet the projects still fail, costing all participants time, money and reputation. Heads roll and as one banker pointed out to IBS: 'It is very interesting to see the statistics of changes of the IT management in banks that have started core banking transformation projects. Usually, once a year an IT guy or an operations guy gets sacked. There has to be some correlation, obviously.'

Interestingly, at the time of this quote, this person was heading such a venture. The high-profile implementation was to be the first for the vendor and its system (FIS and its Profile core banking offering) in the country. A year or so later, he was no longer at that bank. The bank has had a succession of IT managers and staff since, and the FIS project sailed through some rough waters before reaching the go-live harbour. But at least it did reach it, albeit not in the same form or scope as envisaged at the start of the journey.

In any core transformation, be it a small local bank or a multinational financial institution, there are plenty of aspects to consider. How do you pull together and ensure a buy-in from the entire organisation? How do you keep on top of all the pockets of activity and the changes? Who is responsible for what? How to overcome difficult situations and avoid solely pointing an accusing finger but actually resolve problems constructively? IBS has been talking to a wide range of specialists across the industry, including consultants, vendors and their partners and, of course, mainly the banks themselves. Their experiences (from positive to downright dismal), observations and advice underpin the latest How To Run A Core Banking Project Supplement.

Supplement Editor

Other articles in this How To Run a Core Banking Project Supplement (please register here free to read these articles, or login above right if you are already registered. If you experience any difficulty registering or logging in, please contact us at info@ibsintelligence.com):

• Overview: Getting to the core >>
• Spotlight: Training – Train to gain >>
• Case study: Standard Chartered – House rules >>
• Interview: Curtis Stange, ATB Financial >>
• Case study: BBVA Compass – Where the compass points >>
• Case study: Rizal Commercial Banking Corporation – The road less travelled (subscription required) >>

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