DXC Technology (CSC) Falls Church, USA
Hogan, Celeriti » Limited uptake of Celeriti (two users in the US) » Hogan is written in Cobol with flat files for an IBM platform, now largely in maintenance mode, no new sales » Celeriti is a ‘wrapper’ around Hogan, based on SOA with single codebase » Celeriti supports customers, deposits, loans, cards and merchants » Partnership with SAP for Hogan users to convert to SAP’s core
Hogan/Celeriti DXC Technology (CSC)
CSC’s Hogan Systems is a well-established, top-end retail back office system. In addition to Hogan Systems, CSC has in the past offered another high-end retail back office system, K3000, that was marketed only in Europe on a case- by-case basis, depending on banking requirements. It also has a Europe-centric payments system, PTS, and a cards and merchants system, CAMS II. CSC had sought to breathe life into the Hogan system in the last few years through new components, both in-house developed and sourced from IBM, as well as opening up new platforms working with migration specialist, Micro Focus. This led to a new brand, Celeriti. Existing Hogan user, First Tennessee Bank, was the first to sign for Celeriti components, with this announced in November 2010, followed by another Hogan user, Westpac. However, in May 2013, CSC signed with SAP for this supplier’s suite to be offered as the replacement route for Hogan, although it remains well-entrenched in a number of banks in the US, including some of the largest, and elsewhere. The Hogan system was launched at the end of the 1970s by Bernie Hogan, founder of Hogan Systems Inc. It was touted as the Hogan Integrated Banking Application (IBA) and was written in Cobol with flat files for an IBM mainframe platform. The first live site was Arizona Bank but, from an early stage, the supplier adopted a fairly international outlook, resulting in a diverse customer list. The largest users today are three top ten US banks. In addition to support for deposits, loans, customer information, debit cards, credit cards, and merchant acquiring, Hogan Systems came to include a range of components, including a budget and planning system, a credit risk system, and an earnings analysis system.
By the early 1990s, Hogan Systems Inc. had grown
to around 500 staff worldwide and floated on Nasdaq. It ploughed a lot of investment into the system and made reasonable progress, typically against the likes of the
Systematics system. However, it made a couple of ill-advised acquisitions in the wholesale back office sector, buying and then relinquishing the IMMS and Vertex corporate banking systems, and ran into financial problems. IBM took a five per cent stake in 1990. In 2015, CSC picked up a front office solutions provider
in the trading space, Fixnetix. The deal, according to CSC, will help the firm provide its clients with ‘an expanded range of as-a-service utility models’. Figures were not disclosed by CSC, but the deal is believed to be worth somewhere in the region of $100 million (according to sources close to the deal). The US-based firm has recently formed a software and services joint venture with HCL Technologies, too. In 2015, CSC also announced the appointment of Mike Lawrie, CSC president & CEO, as chairman of the company’s Board of Directors, along with the appointments of directors Dr. Mukesh Aghi and Herman E. Bulls. Chairman Rodney F. Chase, who has served as a director since 2001, and Erik Brynjolfsson, who became a director of CSC in 2010, have retired from the company’s Board. Additional board actions included the appointment of Bruce Churchill as Lead Independent Director. Churchill was also appointed Chairman of the Nominating and Corporate Governance Committee. Additionally, Peter Rutland will serve on the Audit Committee. Aghi will serve on the Compensation Committee and on the Nominating and Corporate Governance Committee. Bulls will serve on the Nominating and Corporate Governance Committee. Effective 1st April, 2017, CSC and the Enterprise Services Division of Hewlett Packard Enterprise (HPE) merged to form DXC Technology Company. The new company that began trading on the New York Stock Exchange under symbol “DXC.” and became a member of S&P 500 index, will be focused on digital transformation projects.
US Financial Services Technology Market Report |
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