The Survivor's Guide to Banking Systems Selection

Selecting and implementing a banking system is a major undertaking for all types and sizes of bank. Getting the selection right is, of course, the key to a successful implementation. The process should not only guide you to the best solution for your bank, but also provide valuable intelligence to prepare for the implementation, and reduce the risks of the project failing to meet its objectives.

Surprisingly many banks adopt an unstructured approach to system selection, and they usually pay the price with projects that fall short of their goals or even fail to go live at all. The Survivor’s Guide to Banking Systems Selection has been published to help managers planning a system selection to avoid these pitfalls.

It sets out a simple systematic process for selection including:

• Setting out project objectives
• Developing longlists
• RFI and RFP processes
• Evaluation and scoring systems
• Presentations and workshops
• Risk management

It also provides plenty of tips, do’s and don’ts, examples of the problems banks have encountered and how to avoid them.

Table of Contents
1. Introduction
2. Factors to Consider
3. Lessons learned: from actual banking systems projects

• Why do banks decide to change systems?
• How long did the projects take?
• Were the projects successful?
• What were the collective lessons?

4. The Selection Team
5. The Four-phase Approach

• Phase One - Project Definition
• Phase Two - Shortlist Selection
• Phase Three - Vendor Proposal
• Phase Four - Final Evaluation
• Selection Process Considerations

6. Planning the Implementation

Format: A5 (147x210mm), 68 pages, Print

Publication date: July 2008

ISBN: 978-1-904778-20-2

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