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RECENT ORDERS
WHO? BANK OF NEWINGTON/CLEVELAND STATE BANK WHAT? CORE DIRECTOR
ack Henry Banking has converted US-based Bank of Newington and Cleveland State Bank to the Core Director platform. Both banks replaced their previous core systems and multiple third party vendor applications with the Windows-based solution.
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Tripp Sheppard, vice president and CFO of Bank of Newington, says: “Core Director is much more intuitive and better at anticipating what we want to do; we no longer need to know code to run our core platform. Plus, our previous core was not integrating well with today’s features and functionality, such as mobile capture. With Jack Henry Banking, we can bring everything under one roof for a
streamlined and efficient user experience.”
Timothy Schueler, President and CEO of Cleveland State Bank, comments: “Core Director allows us to reset our goals to what is relevant today and for the future. Now we are able to offer a vibrant mobile channel and expand our overall presence in the marketplace. Jack Henry Banking has been an excellent partner from the very beginning. Their philosophy to do the right thing, do whatever it takes, and have fun, was apparent throughout our various site visits and meetings together.”
Scott Thompson WHO? MKB BANK WHAT? FLEXCUBE
banking transformation. Mark Hetenyi, Deputy CEO of Digital and Retail at the Hungarian FI, spoke recently to an audience at Retail Banking Analytics Europe. The bank wanted to shake off its elder statesman image to embrace upcoming digital technologies. To do that, however, MKB felt it needed a change in its core banking system. It had been using Globus, a precursor to Temenos’ T24 platform, since 2004. Instead of choosing an upgrade from its incumbent supplier, though, it opted for Oracle and its Flexcube offering.
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“An upgrade would have been more difficult than a new system implementation,” says Hetenyi. “We started with bad economics and a very bad system.” The choice words didn’t end there. Globus was “pulling us back”, he says. End of day processes were “a disaster”, the system had a
KB Bank is progressing well with its core
“highly fragmented IT architecture” and “high licence fees and maintenance costs”.
Now that the bank has chosen Flexcube, though, it expects immediate improvements once go live – a big bang adoption – happens. Account opening times will be reduced alongside loan and mortgage acceptance. It also plans to use Flexcube as a base for a digital revamp. MKB is “a third to halfway” through the process, with functional specification, migration and testing yet to be carried out.
Alex Hamilton
www.ibsintelligence.com © IBS Intelligence 2016
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