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Posts Tagged ‘Core’

I was able to attend Oracle’s Open World at the end of September, and although it conflicted with Sibos, it was an extravaganza. While there I sat down with some of the folks involved with core systems; they outlined the interesting way they’re thinking about progressive transformation (briefly, how to migrate core systems gradually; the […]

Oct 9th, 2014 | Filed under Banking, Corporate Banking, Retail Banking

On September 10 Forbes contributor Tom Groenfeldt wrote an interesting piece titled “Core Banking Replacement Remains Locked in the Future.” http://www.forbes.com/sites/tomgroenfeldt/2013/09/10/core-banking-replacement-remains-locked-in-the-future The article started by citing a 2003 Celent report, Core Banking Replacement Strategies: The Time Has Come. In the intervening 10 years, there have been only a handful of successful Tier I core replacements. […]

Sep 11th, 2013 | Filed under Banking, Corporate Banking, Retail Banking

On January 14 Fiserv announced that it closed the acquisition of the equity of Open Solutions for $55 million.  At this size the deal was not subject to regulatory review.  The result: there are now only four major U.S. based Core Solutions providers: Fiserv, FIS, Jack Henry and Harland. Fiserv touted three key strategic benefits […]

Jan 15th, 2013 | Filed under Banking, Corporate Banking

When Citibank announced they were moving from an internally developed core system to Systematics, I wondered why a bank would take all the trouble of doing a core banking migration, but not moving to a modern real-time system. http://bankingblog.celent.com/2010/02/citis-core-migration/ The answer was that there would be too much operational risk in both moving to a […]

Nov 29th, 2012 | Filed under Banking, Retail Banking

Oracle today announced its new core system, Oracle Banking Platform. Why on earth would Oracle develop a new core system apart from its very successful FLEXCUBE? The answer is one size does not fit all. FLEXCUBE is the original bank-in-a-box solution, developed for Citi as an international branch solution, and later known as FLEXCUBE Universal. […]

Sep 19th, 2012 | Filed under Banking, Corporate Banking, Retail Banking
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Core banking migration is hard, and even harder if you don’t know the local market. Oracle learned that lesson at People’s Bank and Infosys/Finacle learned that at Union Bank. In both cases we had foreign systems being implemented by largely foreign teams into the complex US banking market. I was at an Infosys event where […]

Aug 18th, 2011 | Filed under Banking, Corporate Banking, Retail Banking

As I work with banks across the globe I see two different philosophies of core banking design: The first is the component philosophy, where banks buy best of breed components and link them together, frequently with point to point integrations, more recently using SOA. The second philosophy is the universal or integrated system that does […]

Mar 24th, 2010 | Filed under Corporate Banking, Retail Banking
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FIS announced that Citi is going to be conducting a core migration and didn’t provide many details. I filled in some of the gaps in an article in American Banker. For those of you who don’t subscribe to American Banker, This is a big deal with Citi moving their entire deposits from an internally developed […]

Feb 18th, 2010 | Filed under Uncategorized
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