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Another reason for looking at a new system came from the commercial banking side of ATB.

It was increasingly finding it needed more sophisticated cash management services, but to build these into the existing system would have been very complicated.

On top of the challenges of an ‘outmoded and costly’ legacy system, Stange noted, it made more sense to look at a new system for the entire company.

However, when ATB initiated its search for a replacement, it was faced with the problem that none of the international packages had made inroads into Canada, so any solution would need to be tailored and any reference sites would be overseas.

At the time, the market was certainly a ‘greenfield market’. The demand was there, many banks were looking at core systems but none had made the leap, he said.

ATB kicked off the selection process with the collection of current and future business requirements from the different units of the organisation.

It then put together an ‘exhaustive’ RFI, to which it received a good response.

The responses were filtered and between 2,600 and 2,700 requirements were defined.

Five vendors made it to the bank’s shortlist, comprising: • Oracle FSS with Flexcube,

• • •

Infosys with Finacle, Temenos with T24,

TCS Financial Solutions with Bancs

• SAP with SAP for Banking ATB looked at these suppliers in more detail.

‘We did

incredible amounts of due diligence, there were visits to these vendor’s organisations to have them display and demonstrate their products and capability from a people’s perspective and their willingness to bring a core system into the North American market, where it hadn’t seen a lot of its banks go through core changes,’ explained Stange.

From this filtering stage, two vendors made the final cut: •

Infosys with Finacle, • SAP with SAP for Banking

ATB spent time on Infosys’ campus in Bangalore, India, and at SAP’s headquarters in Walldorf, Germany.

For ATB, it was very important to get to know the suppliers as well as their systems, said Stange.

And, after carrying out a very in-depth interview process with both suppliers, ATB chose SAP and its SAP for Banking (Loans Management and Deposits Management) offering in April 2008.

It selected the banking services modules, loans and deposits, CRM, payment engine, Bank Analyzer, GL and integration of all channels with the vendor’s middleware

Core Banking Systems Case Studies: North America 9

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