including those that ANZ inherited through the acquisition of RBS’s assets in six Asian countries in 2009. Fiserv’s ICBS/Signature is among them.
CBA has been pouring money into its core banking project.
Its half-year results, announced in early 2011, revealed that a further $370 million had been added to the venture which meant the bank’s spend on its IT modernisation, with SAP’s software at the heart, had now officially passed the $1 billion milestone and had already made the first $1 million step towards the second billion. In addition, the deadlines were pushed back by a year. The choice of SAP had come in 2008 after a selection spanning a couple of years, taking in all the mainstream solutions.
Dave Curran, CBA’s programme director, core banking modernisation, said at an early stage in the project that the bank realised ‘the main inhibitor to customer service and growth was actually our core system, in terms of IT and processes’. As an aside, BankWest, acquired by CBA from HBOS, had an in-house developed core system that had been adopted by HBOS in the UK and Ireland. And CBA made a treasury decision in 2010, signing with Wall Street Systems, one of only three deals in the whole of Australasia in that year.
CBA claimed during 2013 that it had completed its SAP roll-
out. The bank’s CEO, Ian Narev, told investors that the 1500 CBA staff working on the project were ‘now back to doing other things’, and that ‘we are now shifting our focus on leveraging the system and innovating on the back of that core’.
NAB’s selection of Flexcube came in 2008, so the same year
as ANZ and CBA also took the plunge. The bank embarked on a five-year project, termed its Next Generation Platform
initiative, which was meant to involve the replacement of its core banking systems. Oracle FSS was chosen for the first phase of NAB’s project, which included building the infrastructure for a new direct banking business, at this time dubbed Star Direct. An Oracle spokesman confirmed that NAB was at the start of the selection process for a new core system, but was unwilling to divulge more. NAB was unavailable to comment.
During 2012, it became clear that NAB was working with
Oracle FSS on a new core banking system. This was unveiled late in the year as the Oracle Banking Platform (OBP) and is positioned for tier one banks, alongside Flexcube. The internet banking offshoot of NAB, now called UBank, was live with the new system. Apparently, there were no Flexcube components installed here, only the new Java- based platform, which would now be taken to gradually replace the parent bank’s core systems.
Another bank in Australia, Suncorp, was also lined up for
OBP. The bank had been rolling out the Siebel CRM system supplied by Oracle, and was announced in 2011 as a Flexcube win for core banking and Flexcube Direct for internet and mobile banking operations. In mid-2011, the bank unveiled a $9 million investment plan to build a new CRM solution and a pilot with Oracle had apparently been completed by early 2012. The new core software is OBP (with Flexcube purely for trade finance) and it will replace Suncorp’s long-standing legacy platform, Hogan.
The traditionally in-house focused Westpac has gone
another route, albeit without the bad publicity of others to date. It did not seem to undertake a selection process at the same time as its three counterparts. Instead, it acquired St George in
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