Core Banking Systems

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; and, what they would have done differently. 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.