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All banks which go for a core banking driven transformation face similar challenges Situation Problems Solution Complications15+ years old systems Functional gaps Limited knowledge of CBS Mainly self developed Inconsistent data Build-in business processes Select Core Banking Well understood Different implementation Low agility System as strategic approach System functions thinking Limited compliance Parameterization within limits platform of the future Rich in functionality Limited scalability New strategic partner Product thinking High maintenance Adopt, not adapt www.imacor.de
There is still a high failure rate of core banking driven transformations Transformation Transformation program program delivered aborted 25 % 25 % 50 % Transformation program delivered while costs and timeline doubled or tripled www.imacor.de
Case study Oracle FLEXCUBE, failed implementation at Allied Irish Bank Scope Plan Challenges Results Learning Retail banking Budget: Technical Program One wrong choice, Accounts 84 million Euro implementation stopped in 2010 like the technical Replacement of Time: : IBM’s z/DB2 AIB sued Oracle infrastructure, can legacy retail 3 years platform, which for 84 million lead to a failed banking platform is not Euro in 2011 program. Started in 2007 supported by Migrate Oracle/FLEXCU 5,000,000 BE accounts to Program Oracle management FLEXCUBE shortcomings www.imacor.de
Case Study Temenos Globus/T24 at ING, stopped CBS transformation after three years Scope Plan Challenges Results LearningWholesale banking Budget: The requirements In 2005 the Significant change Treasury - were significant program was of scope, higher than underestimation of Lending Time: stopped citing anticipated Corporate finance 3 years ‘internal complexity and Underestimated Payments need to meet reasons’ wrong technical regional, head choice can lead to a Cash management office and country failed program Risk management requirements General ledger Singapore was the largest branch 35 Countries in Asia Pacific and had a ‘wealth of know-how’ which Single view of a was not easy to corporate customer transfer that across all countries know-how to head office Change of Start in 2002 database technology during the implementation of the CBS program from Oracle to jBase www.imacor.de
Case Study SAP at Commonwealth Bank of Australia, Integration Partner Accenture, Costs double against initial estimation Scope Plan Challenges Results Learning Accounts Budget: Increase of Current Change of scale and Deposits 580 million $ scale and scope knowledge (Mar scope may lead to Loans Time: of the CBS 2013) on significant cost Payments 4 years program Budget: overruns Started in 2008 Acquisition of 1,300 million $ Replacement of Bank West and Time: A large SI partner 45 years old St Andrew’s 5+years will not prevent you legacy IT system Need for from having costs landscape significant overruns. change of lately renewed access channels, again. www.imacor.de
Oracle Flexcube at Chinatrust Commercial Bank TaiwanDescription Best Practice Patterns PhasedBackground Retail and Corporate Bank Implementation 210 branches, >70 abroad $50 billion assets Model BankScope Accounts, payments, trade finance, loans, Implementation deposits Oracle FSS Flexcube Universal Version 10 Socio-Cultural based Selection of ConsultancyObjectives Core bank automation across foreign branches with Headquarter to follow Migrate all countries to the same common New Operating system Model Standardize services, improve cost base and brand loyalty Prepared Business Replicate good practice across group ProcessesChallenges Managing the banks expectations Minimum Changing the habit of the people in the Customization bank Ensure quality of software customization Communicate the Coordinate brand and business strategy replacement as an over borders business issue www.imacor.de
Temenos T24 at Schroders, SwitzerlandDescription Best Practice PatternsBackground Private & Corporate Banking 34 branches in 26 countries BigBangApproach CHF 110 billion assetsScope Private Banking EstablishedChangeM Roll out in 3 countries anagement 18 months implementation time Accounts, Deposits, Payments, Securities RealPartnershipObjectives Increase operational efficiency and maximize synergies within the group Migrate all countries to the same common system PreparedBusinessP Improvement of CRM, risk management, and rocesses compliance Reduction of complex interfaces and decrease the number of technical and platform skills required BetheReferenceBa nkChallenges Data migration concerning existing silos of redundant and inconsistent data Ensure employees continued cooperation SharedStrategy within the program Ensure a smooth and complete knowledge transfer Open Communication Different tax issues and client reporting concerning Job Cuts requirements of migrated countries www.imacor.de
Accenture Alnova Financial Solutions at BAWAG P.S.K. ,AustriaDescription Best Practice PatternsBackground BAWAG acquired P.S.K. PhasedImplement Retail and corporate banking ation 150 branches, > 1,300 post offices €45.4 billion assetsScope Accounts, deposits, payments, loans, credit Established Change cards Management 29 months; in 5 countries Alnova Financial Solutions QualityPeopleObjectives Reducing the need for large back offices Provide online access to all customer- and product-related information Streamline work processes Create synergies between IT capabilities and business goals Adapt quickly to new market conditionsChallenges Adjust business and IT processes Migrate all P.S.K. client account data to the new system Achieve a solid post-merger IT platform for its constituent organizations www.imacor.de
SAP Deposits Management & R/3 at MBA Lazard, ArgentinaDescription Best Practice PatternsBackground Be the First Reference Bank Scope SAP – accounting (R/3), client and account management (Deposits Management) Investment banking back office operations 26 months implementation timeObjectives To move from being a small local player to a much larger institution, focused not only on Argentina but also other central and south American countries Adoption of Basel IIChallenges Integration requirements, more than 100 interfaces Lack of expertise within SAP for its banking software www.imacor.de
Case study Scope Plan Challenges Results Learning A A A A A B B B B B C C C C C D E F www.imacor.de
CASEDescription Best Practice PatternsBackground Best practice patternScope A B CObjectives A B CChallenges A B www.imacor.de
Contact Frank Schwab’s customers are banks, IT consultancies and IT Service Providers in Europe and Middle East. Frank has more than 14 years experience of IT transformations. He has planned CBS-driven IT transformations based on SAP, Flexcube, Temenos, OSPlus, and others in Scandinavia, Middle East, Eastern Europe, Germany and others. Until 2009 he was chief architect at Deutsche Bank. Amongst others he was responsible for the planning of the IT transformation based on SAP Banking, the set up and (10 years later) the renewal of the Online Banking, the introduction of Mobile Banking and the set up of the first German lab for Banking IT. Frank also designed an ASP Core Banking model based on SAP Banking Services.Frank.Schwab@imacor.de Frank is a pioneer of Online Banking, Mobile Banking and Touch Point Banking and a winner of three European Awards +49 173 670 623 3 in 2009 and 2010 for the New Online Banking, Mobile Banking and Touch Banking at Q110 - The Deutsche Bank of Skype: fjschwab the Future. www.imacor.de