Branch Automation Solutions for Large Banks: A Comparison Among Global Core Banking System Vendors

by Bob Meara, March 18, 2010
Vendor Reviews
Global, Asia-Pacific, EMEA, North America

Abstract

Core banking system vendors are now offering highly competitive branch automation suites, but large banks have been slow to catch on.

The compelling feature of core system “front ends” used to be the preintegration to the core. Now many solutions from core banking system vendors are highly competitive. However, despite the advancements in branch automation solutions from core providers, many large banks still run homegrown or third party branch automation systems—usually old ones, with an average age of five years or older. Large banks are more likely to run old code than midsize banks.

Many banks are investing in multichannel sales and service solutions without upgrading core banking systems. In a new report, Branch Automation Solutions for Large Banks: A Comparison Among Global Core Banking System Providers, Celent compares the range of solutions primarily available to large banks, those whose weighted average asset size of customers is more than $20 billion. Celent has created a map of core banking vendors catering to large banks around the world. The report ranks these vendors using Celent’s ABCD Vendor View. Vendors covered in this report include: Accenture Alnova, FIS, Infosys, and Oracle.

“The historic notion that core banking system providers couldn’t compete head-to-head with specialized branch automation solution vendors is no longer supportable,” says Bob Meara, Senior Analyst with Celent’s Banking Group and author of the report. “Once ‘hardwired’ to core systems, these branch automation solutions are now designed to integrate with competitive cores using open standards. The trend is to sell them separately so sales are not tied to core system replacements alone.”

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

Solution Trends and Considerations

8

 

Trends

8

 

Considerations

9

 

Feature Inventory

12

Vendor Taxonomy

16

Celent ABCD Analysis

19

 

Results

20

 

Advanced Technology

22

 

Breadth of Functionality

25

 

Customer Base

26

 

Depth of Customer Service

27

Vendor Profiles

29

 

Accenture Alnova Financial Solutions

30

 

FIS

35

 

Infosys Finacle

41

 

Oracle Financial Services Software

48

Summary

55

Leveraging Celent’s Expertise

57

 

Analyst Access

57

 

Support for Financial Institutions

57

 

Support for Vendors

57

Related Celent Research

59

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