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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"><head><meta http-equiv="Content-Type" content="text/html; charset=UTF-8"> <link rel="icon" type="image/ico" href="https://it-in-industry.com/index_files/icon.gif"/> <title>Core Bank Transformation in Practice - Large Scale IT System Renovation | Kilimnik | INFORMATION TECHNOLOGY IN INDUSTRY</title> <meta name="description" content="Core Bank Transformation in Practice - Large Scale IT System Renovation"> <meta name="keywords" content="core banking; transformation; finance; payment"> <meta name="DC.Contributor.Sponsor" xml:lang="en" content=""> <meta name="DC.Creator.PersonalName" content="Justin Kilimnik"> <meta name="DC.Creator.PersonalName" content="Chris Pavlovski"> <meta name="DC.Date.created" scheme="ISO8601" content="2014-10-27"> <meta name="DC.Date.dateSubmitted" scheme="ISO8601" content="2014-10-27"> <meta name="DC.Date.issued" scheme="ISO8601" content="2014-10-27"> <meta name="DC.Date.modified" scheme="ISO8601" content="2014-10-27"> <meta name="DC.Description" xml:lang="en" content="The banking experience for many people today is fundamentally an application of technology to be able to carry out their financial tasks. While the need to visit a bank branch remains essential for a number of activities, increasingly the need to support mobile usage is becoming the central focus of many bank strategies. The core banking systems that process financial transactions must remain highly available and able to support large volumes of activity. These systems represent a long term investment for banks and when the need arises to modernize these large systems, the transformation initiative is often very expensive and of high risk. We present in this paper our experiences in bank modernization and transformation, and outline the strategies for rolling out these large programs. As banking institutions embark upon transformation programs to upgrade their banking channels and core banking systems, it is hoped that the insights presented here are useful as a framework to support these initiatives."> <meta name="DC.Format" scheme="IMT" content="application/pdf"> <meta name="DC.Identifier.pageNumber" content="89-97"> <meta name="DC.Identifier.URI" content="http://it-in-industry.com/issue/archive/33.html"> <meta name="DC.Language" scheme="ISO639-1" content="en"> <meta name="DC.Rights" content=" Authors who publish with this journal agree to the following terms: Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal. 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"> <meta name="DC.Source" content="INFORMATION TECHNOLOGY IN INDUSTRY"> <meta name="DC.Source.ISSN" content="2203-1731"> <meta name="DC.Source.Issue" content="3"> <meta name="DC.Source.URI" content="http://www.it-in-industry.com"> <meta name="DC.Source.Volume" content="2"> <meta name="DC.Subject" xml:lang="en" content="core banking"> <meta name="DC.Subject" xml:lang="en" content=" transformation"> <meta name="DC.Subject" xml:lang="en" content="finance"> <meta name="DC.Subject" xml:lang="en" content="payments"> <meta name="DC.Title" content="Core Bank Transformation in Practice - Large Scale IT System Renovation"> <meta name="DC.Type" content="Text.Serial.Journal"> <meta name="DC.Type.articleType" content="Peer-Reviewed Articles"> <meta name="gs_meta_revision" content="1.1"> <meta name="citation_journal_title" content="INFORMATION TECHNOLOGY IN INDUSTRY"> <meta name="citation_issn" content="2203-1731"> <meta name="citation_author" content="Justin Kilimnik"> <meta name="citation_author_institution" content="IBM Brisbane, Australia"> <meta name="citation_author" content="Chris Pavlovski"> <meta name="citation_author_institution" content="IBM Brisbane, Australia"> <meta name="citation_title" content="Core Bank Transformation in Practice - Large Scale IT System Renovation"> <meta name="citation_date" content="2014-10-27"> <meta name="citation_volume" content="2"> <meta name="citation_issue" content="3"> <meta name="citation_firstpage" content="89-97"> <meta name="citation_abstract_html_url" content="http://it-in-industry.com/issue/archive/33.html"> <meta name="citation_language" content="en"> <meta name="citation_keywords" xml:lang="en" content="core banking"> <meta name="citation_keywords" xml:lang="en" content="transformation"> <meta name="citation_keywords" xml:lang="en" content="finance"> <meta name="citation_keywords" xml:lang="en" content="payments"> <meta name="citation_pdf_url" content="29.html"> <link rel="stylesheet" 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