Core Banking Systems 30 Case Studies - Volume 1

This report details the experiences of 30 banks which have recently changed or installed new core systems. It compares the projects, and draws conclusions about what makes them successful and what are the pitfalls.

Scope:
The case studies cover banks in 20 countries in all regions of the globe covering a variety of banking activities.

The banks were asked:

• Why they decided to change systems
• What was the scope and complexity of the project
• How they selected the new system
• How they implemented it
• How long it took to select and implement
• How successful it was
• What they would have done differently

Key Observations:

• Many banks need to change to comply with regulations
• A common reason for changing was to improve retail marketing
• Banks who did not evaluate fully the chosen system regretted it later
• Some banks shortened the selection process by skipping the RFI stage
• Many banks underestimated their involvement in implementation, particularly user testing
• Data conversion and interfaces were the biggest headaches
• Despite the complexity of the projects, few projects had any major problems
• A few banks were able to calculate ROI, one estimated payback in one year

Banks included in the case studies:

1. Arcapita
2. Banco Azteca
3. Bank of Ireland
4. Bank of Valletta
5. Banque de I'lndustrie et du Travail
6. BAWAG PSK
7. Commercial Bank of Dubai
8. DeltaCredit Bank
9. Derbyshire Building Society
10. Egyptian American Bank
11. Federal Home Loan
12. First Bank of Nigeria
13. First Command Bank
14. First Community Bank
15. Groupama
16. Gulf Finance House
17. Housing Finance
18. Industrial Development Bank of India
19. Lloyds TSB
20. Main Street
21. Middlesex Savings Bank
22. Mizuho Trust & Banking
23. National Bank of Abu Dhabi
24. National Commercial Bank
25. North Carolina Department of State Treasurer
26. PT Commonwealth
27. RZB
28. Sentinel Bank & Trust
29. Ukio Bankas
30. Yes Bank

Vendors included in the case studies

1. Accenture
2. Callataÿ & Wouters
3. Center of Financial Technologies
4. Financial Objects
5. Fincentric
6. Forbis
7. Harland/ITSoft (Phoenix)
8. I-flex
9. Infosys
10. International Private Banking Systems
11. Jack Henry
12. Misys
13. Neptune Software
14. Open Solutions
15. Path Solutions
16. Polaris
17. SAB
18. Sage Financial Solutions
19. Wall Street Systems

Contents

• Introduction
• The Study
• Figure 1 – Banks Studied
• Figure 2 – Banks and Vendors
• Figure 3 – Banking Type
• Figure 4 – Geographic Distribution
• Study Topics
• Drivers/Need for Change
• Selection Process
• Figure 5 – Selection/Implementation Times
• Figure 6 – Selection Process
• Implementation
• Futureproofing
• Figure 7 – Technology vs Application
• Conclusions
• The Case Studies

Format: A4 (297x210mm), 125 pages, eBook only. What is an eBook?

Publication date: July 2006

ISBN: 978-1-904778-15-8 

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