FinacleConnect - Quarterly Journal from finacle, Infosys

Technology was in fact a catalyst to creating business and organizational changes at the bank. There have also been other efficiency and streamlining benefits. For instance, between the three banks, there were initially 1500 retail products that have now been brought down to 250. Our customers now have easier access to loans, for instance, if they meet the requirements, individuals can get consumer loans up to $40,000 within 48 hours.

What were the key challenges of the technology integration exercise?

The biggest challenge was managing change, because with this new system we have changed how people work in the bank. We had decided on which functions to implement and which to discard in all the

three banks. This took a lot of planning and time. Managing a project of this size, which involved thousands of people, different processes and systems was very challenging. For such a complex and intensive project to be successful, it was essential to have the complete commitment of both the top management and employees throughout the duration of the project.

Are you planning any enhancements to your
existing systems?

We are working on the simplification and rationalization of our Information System. We are also working in parallel on defining standard policies for the same. Our priority is to optimize the cost of maintaining the information system and create synergies between Banca Intesa and other banks in the
group.

We are also focused on developing a true multi-delivery channel bank. We are creating a new self-service focused layout for our branches and are also investing on delivery channels such as telephone, mobile and Internet banking.

With the technology integration project through, what other technology initiatives have you been focusing on?

After the migration of the core banking systems, we have been focusing on four key objectives. The first was a recently concluded project on accounting standards prescribed by IAS 39, the International Accounting Standard for the recognition and measurement of financial instruments. The second task, which is nearly through, was to provide technology support to our business divisions. The other key objectives were

Home |Printable Article

| 1 | 2 | 3 | 4 | Page 3 of 4