Moving to a New Growth Platform

by Bart Narter, September 1, 2010
Case Studies
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

CRDB Bank was outgrowing its core banking system. With a CAGR of 25%, the bank was looking for a new platform for growth and chose Misys BankFusion.

In this report, Moving to a New Growth Platform, Celent describes a bank that needed to find a new platform that offered the scalability to meet growing demand and the flexibility to continue innovating and meeting regulatory reporting requirements. The bank concluded that the best move was to the new Misys BankFusion. The system has delivered the functionality of the existing platform and enabled the bank to much more easily meet regulatory requirements.

The next step is for the bank to use the relational database and flexible architecture to create product innovations. The growth CRDB was experiencing outstripped the ability of its existing core system to keep up with demand, from a scalability, flexibility, and reporting perspective. The new BankFusion platform met all three needs.

“Being the first bank to move onto a platform is a bold move,” says Bart Narter, Senior Vice President of Celent’s Banking Group. “CRDB actually considered moving to Misys BankFusion a low-risk decision, given their past experiences with Misys as a technology partner.”

This report examines the need to move, the decision process, implementation milestones, and the business results of moving to the BankFusion platform. 

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 operating unit 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

Background on CRDB

4

 

Retail Products

4

The Decision to Move Core Banking

6

Why Misys BankFusion?

8

 

Lower Risk

8

 

Product Technology

8

 

Relationship with Vendors

8

Implementation Milestones

10

Benefits to CRDB

11

Conclusion

12

Leveraging Celent’s Expertise

13

 

Support for Financial Institutions

13

 

Support for Vendors

13

Related Celent Research

14

Sign in to download reports and access personalized information