Risk sharing pays dividends for RCBC’s new core banking system implementation programme
Dennis Bancod, CIO of RCBC discusses how his experience with two previous core banking system implementations influenced his most recent approach at RCBC. November 01, 2012 | Carol WheatcroftPhilippines’ Rizal Commercial Banking Corporation (RCBC) was in good hands when it decided to implement a full back and front-end core banking system replacement. This was the third time that the bank’s chief information officer, Dennis Bancod, had been in charge of a core banking replacement program and the experience he brought to the task clearly paid off; the new Finacle core banking system running on Linux, on an IBM System Z mainframe platform went live in May 2012 and was stable within four months. Bancod joined RCBC in 2007 as part of the new management team led by the bank’s president and chief executive officer Lorenzo Tan. Following his appointment, Tan set his new team a number of targets to improve the bank’s bottom line, which included increasing customer numbers from 700,000 to 5 million. Bancod realised that the technology road map had to include a core banking system replacement if the growth targets were to be met, especially as the bank had not refreshed its technology for eight years and different arms of the bank were operating on different core banking platforms. When asked about the technology choice for the core banking system, Bancod explained that he wanted to leverage proven vendors and products, and hence selected vendors from technology analyst Gartner Research’s Leaders Quadrant. Of equal importance to him was that the selected vendor should have a local presence within the Philippines, with the choice coming down to four vendors - Iflex (Oracle), Fiserv, Fidelity and Infosys. Late in the bank’s selection process, Callatay and Wouters’ Thaler solution was also evaluated, before a final decision was made to select Infosys’ Finacle core banking system. RCBC also decided that it wished to retain IBM as the hardware supplier as many of the bank’s existing infrastructure assets were from IBM. With RCBC becoming the first bank in the world to run Finacle on Linux on System Z with DB2 for z/OS, why did... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Core Banking, Philippines, Technology & OperationsCore Banking,Philippines,technology, Core Banking,Philippines,Technology & Operations, Keywords:RCBC, Dennis Bancod, Lorenzo Tan, Infosys, IBM, Oracle, Fiserv, Fidelity, Callatay & Wouters, Linux, Business Analytics RCBC, Dennis Bancod, Lorenzo Tan, Infosys, IBM, Oracle, Fiserv, Fidelity, Callatay & Wouters, Linux, Business Analytics
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