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The First Mistake in Searching for a New Core System -- Finding the Best System

August 7, 2006

***Trying to find the best system is indeed a mistake. Best system according to whom? Is the best system for Citibank the best system for a de novo? Is the best system in California the best system in Maine? Don't be too quick to answer that one. The answer may be yes. ... Every bank deserves the best fit, not the best system. And the process begins with what I call, "Know thyself."

Is It Time to Change Core Systems?

July 28, 2006

***Here are some general rules about knowing when it's time to change your core system:

1. Good systems have been available for the past 30 years. If you chose one ... you probably don't need to switch now.

2. Good vendors have kept their systems up to date, so even if the system is 30 years old, it most likely is working as if it were a 2006 system.

3. Culture of the current vendor is extremely important.

Hot Topics in 1999 Bank Technology

July 24, 2006

***The following list came from my regular reading of eight trade journals in 1999. These were considered fresh and hot things. ... I spiced it up with my opinions.

1. Migrating to client/server technology -- Everyone didn't do it and it wasn't the revolution most people expected.

2. Database marketing -- Lots of noise, little implementation, mostly because bankers wanted to know, "Which function key do I hit to do some marketing?" It's a lot harder than that.

The following advice is from two executives who spoke during the recent BS&T/SAS Executive Forum, "Turning Customer Value Into a Competitive Advantage in Retail Banking":

-- Rich Martino, SVP of market information and research, U.S. Bank. Presentation available at:

AML Resources

The Association of Certified Anti-Money Laundering Specialists (Miami) seeks to help compliance officers and anti-money laundering specialists, among others, perform their duties by providing up-to-date information, education, career development and professional networking opportunities.

Take a Test Drive

Barlow Research Associates (Minneapolis) takes an in-depth look at the Internet banking platforms offered to small business customers by many of the largest U.S. banks. Barlow opened a small business checking and savings account at each institution. It brings the audience along as it accesses its accounts through each bank's small business Internet banking platform. businessinternetbanking/testdrive

The Gold Standard

The Gold Book is Wall Street & Technology's second annual issue dedicated to CIOs and their top current and future projects. Bringing together profiles of various CIOs from Wall Street -- the buy side, sell side and exchanges, both large and small -- this site lists the CIOs featured and links to their profiles and major accomplishments.

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