search.noResults

search.searching

note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
FEBRUARY 2015/ISSUE 24.5


GLOBAL INDEPENDENT PERSPECTIVE ON FINANCIAL TECHNOLOGY


Zions Bank changes roll-out plan for TCS Bancs project Consumer lending is now the initial focus at the US bank, with commercial lending to follow


Utah-based Zions Bancorp, a large regional bank, is now 18 months into a project aimed at stand- ardising on the TCS Bancs core banking system across eight subsidiary banks. Zions is implement- ing the latest release of the system, version 14. The core system implementation effort began in 2013, and is expected to span five to seven years. The transformation, dubbed Future Core, has been divided into three stages: consumer lending, commercial lending and deposits. ‘We have now completed the consumer lending spec- ifications, and are nearing completion of the com- mercial banking specifications, with this expected to finish in the next two or three months,’ says Aar- on Schlenz, the bank’s senior vice-president, core


programme management. In the original plans, commercial lending was


to be implemented first. As the effort progressed, it became clear that, due to the complexities and activities around commercial lending, it would be more sensible to start with consumer lending. This was not a difficult change for the project, as the first phase was a combined requirements effort for both consumer and commercial. ‘Consumer lend- ing tends to be more straightforward than com- mercial lending, and therefore requires fewer US localisations,’ states Schlenz.


...continued on page 6 BIL and Avaloq scrap joint venture in Luxembourg The country’s oldest private bank is yet to find a new core system as it fails to agree terms with Avaloq


Banque Internationale à Luxembourg (BIL), the oldest private bank in the country and one of the largest, has abandoned its roll-out of the Avaloq Banking Suite. The bank has also scrapped its plan to establish a joint venture company with the ven- dor, to provide business process outsourcing (BPO) services based on the Avaloq platform to banks in the Benelux region. In a statement provided to IBS, the bank said:


‘BIL and Avaloq have agreed to end the discussion regarding the creation of a joint BPO centre in Lux- embourg.’ In addition, ‘BIL will continue to work with its own core banking system’. It is understood that the biggest stumbling point between the two parties was the doubling


of the originally estimated budget. In response, Avaloq said to IBS: ‘The two com-


panies didn’t find each other on a commercial level. Avaloq and BIL remain in good faith. Avaloq continues to execute its BPO strategy and will build up a BPO centre in Luxembourg.’ All refer- ences regarding the deal, published this summer, have now been completely removed from the Avaloq website. This is the second time that Avaloq has been


selected by BIL, only for the project to fail to get off the ground.


...continued on page 7 inside


BANKING TECHNOLOGY IN THE MIDDLE EAST


ibsintelligence


IBS Journal Material may not be reproduced in any form without the written permission of the publisher. © 2015 IBS Intelligence, a trading name of IBS Publishing Ltd.


©Copyright


Salt Lake City, home of Zions Bank ©Garrett, Flickr


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56