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Citi's core migration

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Celent have reviewed this profile and believe it to be accurate.
19 February 2010

Comments

  • Most banks are living in a real-time world with batch systems. Debit cards present real time risk to the bank. Checks do not, but they are disappearing in the US.

  • [...] When Citibank announced they were moving from an internally developed core system to Systematics, I wondered why a bank would take all the trouble of doing a core banking migration, but not moving to a modern real-time system. http://bankingblog.celent.com/2010/02/citis-core-migration/ [...]

  • You make an excellent point. With the proliferation of electronic delivery to customers, they've come to expect real time information. Batch systems make that so much more difficult to do. Plus, with the increase in electronic access (debit cards, for example), managing in a batch envrionment becomes risky as well. Just doesn't make sense to stay in a batch processing mode.

  • I think compliance issues may also cause risk for batch systems, especially for the customer information traveling around which is not welcomed in latest EU regulations. Business continuity management may also impacted from the same situation.

  • Yes, there are some folks in the UK who would agree on business continuity issues.