Problem Projects
See below for a list of independently written IBS Journal news and feature articles and IBS Intelligence Research vendor profiles, case studies and market analysis related to Project Banking Technology Projects in order of publication date.
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.
You may also be interested in our Core Banking Systems Case Studies - 65+ real-life system implementations from selection and process through to go-live and results >>
When a bank decides to select a new core banking system, it is usually because the systems it is using no longer meet commercial or operational goals. For many financial institutions, the path from research and selection to a live implementation of a new system is often long and far from straightforward, with many hurdles and challenges along the way. 
You may also be interested in our Core Banking Systems Cost Benchmark 2012 - 52 banks across 41 countries share with us the details of their new system's costs and schedules to provide an answer to the thorny question 'How much does a core banking system cost?' >>
Negotiation & Contracts
One of the most significant challenges during a core banking system project occurs when the relationship between the bank and its software and/or consulting vendors becomes strained, either because of missed deliveries, the discovery of unsuspected complexities or from external competitive or regulatory pressures. This crucial relationship is primarily governed by a complex series of contracts between all the parties involved, which are themselves based on numerous discussions, understandings and agreements reached during the selection, negotiation, and post go-live phases.
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Article: Eesti Pank payments initiative halted
09 May 2013
The introduction of a new SEPA-compliant retail payments system in Estonia has been halted by the Central Bank of Estonia, Eesti Pank. The new system, dubbed EEPS Core, was due to be developed by the central bank and French vendor, Systèmes...
Article: Latest news on Misys Bankfusion
07 May 2013
Two early projects to implement Misys' Bankfusion Universal Banking core system have taken different routes: one bank has finally gone live with the system, but the other one is believed to have given up and to be pondering a new system selection.
Article: Case study: Home Trust Company – Back to the drawing board
07 May 2013
Home Trust Company in Canada is reaping the benefits from its enterprise-wide modernisation venture. The project, initiated in late 2007, surpassed the boundaries of a technology revamp by encompassing a full business process reorganisation, an...
Article: Backchat – May 2013
07 May 2013
The latest gossip from around the industry.
Article: IBS Journal Anti-Money Laundering Supplement 2013
02 May 2013
New ways of defrauding and money laundering, new ways of preventing it, new sanctions and regulations – these subjects crop up again and again. And although the industry talks the talk, actions of some of the participants don't support their s...
Article: UPDATE: Failure of Co-operative Bank and Lloyds merger puts IT issue in spotlight
24 April 2013
As the acquisition of Lloyds' 630+ branch network by fellow UK player, Co-operative Bank, is no more, will Co-op revert to its pre-merger IT roadmap?
Article: Backchat – April 2013
04 April 2013
The latest gossip from around the industry.
Article: Country focus: Turkey – Turkish delight
03 April 2013
In the current financial climate, Turkey is a rare safe haven of banking industry growth, with nearly all types of banking – be it retail, investment, commercial or participation (Islamic) – on the rise. Still, the international suppliers are yet to...
Article: Banco Ficohsa and BPDC gear up for Temenos T24 launch
14 March 2013
Two banks in Central America/Caribbean are moving closer to the long-awaited switchover to Temenos' T24 core banking system. These are Banco Ficohsa in Honduras and Banco Popular y de Desarrollo Comunal (BPDC) in Costa Rica. Go-lives are set for...
Article: Backchat – March 2013
06 March 2013
The latest gossip from around the industry.
Article: Flexcube Retail – future in doubt?
18 February 2013
With the launch of a brand new core banking offering for large retail banks, Oracle Banking Platform (OBP), questions are raised over the positioning and future of another, much older high-end retail banking system of Oracle FSS, Flexcube Retail...
Article: Coast Capital Savings CU goes live with T24
15 February 2013
Coast Capital Savings Credit Union, the second largest credit union ($13.5 billion in assets) in Canada, finally goes live with a new system, Temenos' T24. Meanwhile, the vendor has signed two more T24 takers in Canada, one of which is Canadian...
Article: Oracle FSS and Autosoft Dynamics bidding for Bank of Punjab contract
15 February 2013
IBS Intelligence has learnt of two vendors who are amongst those participating in the RFP to replace Bank of Punjab's core banking system. These are Oracle FSS with its Flexcube offering and Autosoft Dynamics with Autobanker.
Article: Backchat – February 2013
06 February 2013
The latest gossip from around the industry.
Article: Interview: Curtis Stange, ATB Financial
01 February 2013
ATB Financial in Canada has had a fraught few years implementing the SAP for Banking suite. The project, initiated in spring 2008, experienced delays and budget swelling, but is now complete and the bank is benefiting from the IT transformation in...
Article: How To Run A Core Banking Project Supplement 2013
30 January 2013
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,...
Article: Overview: Getting to the core
30 January 2013
Core banking technology is constantly modernising and evolving, but the process of throwing out the old system and bringing in the new seemingly is not. IBS looks at the trials and tribulations of core banking implementation projects.
Article: More problem projects at Temenos
14 January 2013
Two financial institutions, one in Kuwait and one in France, are believed to have stopped their implementations of Temenos' flagship, T24. Meanwhile, Banque Libano-Francaise (BLF) is yet to cut over to T24 and Oracle components, more than five...
Article: Patelco Credit Union begins implementation of SS&C's LMS Loan Suite solution
04 January 2013
US-based Patelco Credit Union has kicked off its implementation of SS&C's new LMS Loan Suite solution. The project is due to go live in Q3 2013. However, Patelco's plan to upgrade its core banking system with Fiserv's Acumen, has come to a halt. ...
Article: End of Year Review 2012
20 December 2012
As 2012 drew to a close, IBS Journal rounded up the significant developments of the international banking software industry, highlighting major achievements, dubious accomplishments, key mergers and acquisitions, as well as regulatory changes that...
Article: International Private Banking Systems – IPBS – Private – Stocks & Securities Limited (SSL) – Jamaica
19 December 2012
New case study added in our Core Banking Systems Case Studies publication: In 2008, Stocks and Securities Limited (SSL), the second oldest...
Article: Editor's Note – December 2012 / January 2013
03 December 2012
When a banking software implementation project fails, who is to blame? Finger-pointing is common, but in reality, the likelihood is that all parties – vendor, integrator and financial institution – contributed (some more, some less) to the...
Article: Islamic Banking Focus: Case study – Al Baraka Islamic Bank
03 December 2012
Al Baraka Islamic Bank in Pakistan was heading towards Misys' Equation, but the acquisition of a larger bank in the country brought a change of plan. The migration to a local core system, Autosoft's Autobanker, has gone well and it looks as though...
Article: Backchat: December 2012 / January 2013
03 December 2012
The latest gossip from around the industry.
Article: Interview: Tony Prestedge, Nationwide Building Society
03 December 2012
The world's largest building society, Nationwide, has had a fraught few years implementing its new core banking system but it now looks ready to reap the benefits, which could in turn put pressure on its UK competitors. IBS talks to the society's...
Article: Case study: Compartamos Banco – Cloud on the horizon
28 November 2012
Can Mexican micro-lender, Compartamos Banco, succeed with SAP where it failed with Temenos? It is mid-project as it seeks to implement a new core system and, while running late, believes there is the commitment from the supplier to succeed this...
Article: Vendor spotlight: SAP – What's the verdict?
28 November 2012
SAP claims it is fully committed to a successful project at Compartamos Banco in Mexico and to greatly improving its delivery in banking as a whole. The jury is still out but it is making the right noises.
Article: No more project halts and write-offs, says Temenos
23 November 2012
Having drawn the line under a number of struggling T24 implementations, the core banking software vendor is adamant that, going forward, its implementation projects will see a successful outcome. Today's project governance and methodologies are...
Article: Misys' Bankfusion project at BCB on the rocks
09 November 2012
Misys' venture to replace Bankmaster with Bankfusion at Bermuda Commercial Bank (BCB) is believed to experiencing major problems. However, the vendor's CEO is determined to turn the project into 'a success story'.
Article: IPBS breaks into Asia Pacific with its flagship system
08 November 2012
Bahamas-based International Private Banking Systems (IPBS) has broken out of its domestic Caribbean market with a new taker in Hong Kong, Commercial Trust. The trust is now 'running smoothly' on the supplier's flagship private banking and wealth...
Article: Previous implementations
06 November 2012
This section provides the results (summary tables and data sets) to what have been the main challenges of respondents previous implementations from the list below:Customisation - Integration - In-house expertise - Support from the...
Article: Editor's Note – November 2012
01 November 2012
This editorial was written ahead of the industry being dragged off to Osaka for the annual Swift shin-dig. Fine if you are a Japanese banker, not so good if you are one of the many attendees from Europe, a continent that will not see the show for...
Article: Backchat – November 2012
01 November 2012
The latest gossip from around the industry.
Article: Roll-out of Fiserv's Acumen hits the rocks at Gesa CU
30 October 2012
Washington-based Gesa Credit Union has filed a lawsuit to cancel its roll-out of Fiserv's Acumen. The supplier rejects the credit union's claims and states that this is a one-off problem within its US Acumen base.
Article: Temenos T24 projects in Canada hit problems
29 October 2012
Servus Credit Union in Canada appears to have shelved its implementation of Temenos' T24 core system while the project at another of the country's credit unions, Coast Capital, is running very late.
Article: Unicredit Russia to implement new core banking system
17 October 2012
Moscow-based subsidiary of Unicredit is in the final stages of selecting a new domestic core banking system, to go alongside Flexcube and perform local accounting and reporting functions.
Article: Interview: David Gledhill – DBS
08 October 2012
IBS talks to DBS Bank's head of global technology and operations about its core banking systems projects, the role and value of the bank's IT team, the downside of system integrators and the threats and opportunities of new channels.
Article: Country focus: Japan – Good things come to those who wait
08 October 2012
Patience is the key component of success for an outsider in the Japanese market, with some hopefuls waiting for a decade before proving their commitment and making the first sale.
Article: Banking System Selection: The Four-Phase Approach
02 October 2012
Selection itself is an investment in time and money; it also involves the engagement of vendors and partners, and a poorly-defined project can hinder the development of important relationships. The classic selection process consists of four...
Article: Banking System Selection: Factors To Consider
02 October 2012
Too often system selection is based on simplistic directives – 'I want a new system which does X, and I don't want to pay a fortune for it!' If the focus of the selection is purely on replicating existing functionality and the cost of the initial ...
Article: Banking System Selection: Lessons From Actual Banking Systems Projects
02 October 2012
On an ongoing basis, IBS follows the progress of banks implementing new back office systems. We ask about the drivers for their projects, how they went about selecting the system chosen, the implementation project, the lessons, what they would...
Article: Banking System Selection: The Selection Team
02 October 2012
The size and composition of the selection team will depend on the size of the bank and the scope of the project. The important thing is to ensure that all parties that will be impacted by the new system will be given the opportunity to have...
Article: Banking System Selection: Contract Negotiations
02 October 2012
The contract should have its roots in the original business case, should evolve during the selection, and should encapsulate the detail of the implementation and its associated risks. It should then not gather dust but should remain as a relevant...
Article: Banking System Implementation: Planning, Risks and Tips
02 October 2012
A good starting point is to identify the risks that were identified during the selection process. Indeed, a lot of knowledge and groundwork should have been completed and the more those involved in the selection can be moved seamlessly into the...
Article: Banking System Implementation: Planning – The People Aspects
02 October 2012
So, the selection has been completed, now onto the implementation. This point is a good moment to take stock and analyse the changing challenges which will now arise. Before starting out, there is also the question of who is most appropriate as...
Article: Banking System Implementation: Business Ownership, Buy-In and Communication
02 October 2012
Core banking system projects fail most often because of people issues rather than technical ones. For the project manager, it is of vital importance to gain early and sustained buy-in from senior management down to end-users, plus all other...
Article: Banking System Implementation: The Key Role of the Business Process Workstream
02 October 2012
The Business Process Workstream is an important but sometimes neglected one. It needs to be set up at the start of the project and needs to receive full attention and adequate staffing. It faces some fundamental challenges and the results of...
Article: Banking System Implementation: MI and Regulatory Reports
02 October 2012
Prior to starting a core banking system replacement project, a bank will have a comprehensive set of MI reports which support day-to-day operations and meet all regulatory returns. It would therefore appear that the role of the MI reports...
Article: FREE PREVIEW - Banking System Implementation: Training
02 October 2012
A core banking system replacement project is similar to an orchestra, in that all workstreams must work together and deliver to specification for the project to be successful. If training is ineffective, staff can experience problems post go-live,...
Article: Banking System Implementation: Data Cleansing and Migration
02 October 2012
Data migration, cleansing and enrichment is a core seam running through any core system replacement project, but it is difficult to get right and can have embarrassing consequences if it goes wrong. When talking to banks post-implementation, it is...
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Core Banking Systems Market Dynamics Report 2013
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How To Select & Implement A Universal Banking System
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The IT User's Guide to Banking Definitions
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Back Office Systems and Suppliers (BOSS) Guide
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Risk Management Systems and Suppliers Guide
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