Core System Replacement: A Case Study of Citibank
Boston, MA, USA July 31, 2002
Case Study: Replacing Core Systems at Citibank
In this case study, Celent examines the replacement of Citibank's core systems for wholesale banking in Europe, Asia, Africa and Latin America. According to Octavio Marenzi, managing director at Celent and author of the report, Although many banks have tried to replace their core systems, most of these efforts have failed. Citibank is one of the few instances where a major bank has been able to replace significant parts of its core systems successfully.
In the case study, Celent outlines the history of the project at Citibank, the technology decisions made in terms of both software and hardware for the new application and examines the roll out of this system across twenty countries.
Celent estimates that Citibank will eventually be able to generate savings in excess of US$100 million annually due to this migration. A Table of Contents is available online.
of Celent Communications' Wholesale Banking research service can download the report electronically by clicking on the icon to the left.