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Figure 1
Source: Celent report, The Global Vendors of Core Banking Solutions: The Heat is On, by Christine Barry
Figure 3
Existing product roadmap and bandwidth These SI partners provide a multitude of pro-
issues: Each core banking product has a roadmap fessional services including business process
for further growth in modules and functionalities consulting, system integration, custom applica-
over a period of time. Vendors have to progres- tion development and content development and
sively invest money and other resources to follow other consulting and implementation expertise.
the roadmap, which hampers investments in LOS Their services can also be used to develop an
development. in-house loan origination front-end system
focusing on best practices in addition to flexibility,
Leveraging Partner Skills ease of use and adaptability.
Leading core banking system vendors are
primarily manufacturers of complex software The LOS should be built with features that provide
rather than system integrators from consulting a high level of user parameterization to cover the
firms. They are measured and rewarded according financing requirements across various geographi-
to the number of software licenses they sell, cal regions and allow organizations who use it to
which form the basis of their long-term revenue create new products and services and bring them
streams. Vendors activities are therefore to market very quickly.
focused on sales and performance rather than
The key benefits of leveraging SI partner skills
strategic consulting, implementation and inte-
include:
gration services. Hence, these CBS vendors form
strategic alliances with system integrators (SI) to Extensive domain resource pool: The SI
deliver industry-best end-to-end solutions. partners have a large pool of resources with
CBS expertise: The SI partners typically have Bandwidth availability: Sufficient bandwidth
multiple resources with hands-on experience in and skilled resources will enable the SI partner
several core banking products such as Flexcube, to focus on developing a comprehensive and
Finacle, Silverlake SIBS, etc. This gives them a flexible LOS that can be readily interfaced with
unique perspective on the core banking mar- T24 and also with other core banking platforms.
ketplace and an insight into how banks can
optimize their engagement to ensure that their Conclusion
return on investment is assured. An LOS that is seamlessly integrated with the
core banking solution is becoming a critical
LOS experience: In addition, the SI partner will requirement for banks. However, for the CBS
also have experience working on different loan
origination systems. This knowledge can be vendor, building such an LOS involves several
leveraged for developing the LOS for the core challenges. These challenges can be overcome
banking system. through partnering with system integrators and
leveraging their strengths.
Megha Bhasin is a Consultant with Cognizant Business Consulting. She has more than seven years of
experience in the banking domain across retail and corporate banking. Megha has worked on multiple
core banking products including Temenos T24, Flexcube, Finacle and The Complete Banking Solution
(TCBS). She majored in commerce at Panjab University and holds a management degree in finance from
ICFAI, Hyderabad. She can be reached at Megha.Bhasin@cognizant.com.
About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process out-
sourcing services, dedicated to helping the worlds leading companies build stronger businesses. Headquartered in
Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry
and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50
delivery centers worldwide and approximately 145,200 employees as of June 30, 2012, Cognizant is a member of the
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