Co-operative Financial Servicesis
looking to replace its 40-year-oldlegacy banking systemsin a major
procurement exercise next year.
The firm has been in discussions with suppliers over what it
describes as its largest-ever planned investment in IT.
"We are looking hard at our core banking systems with a view to
potentially replacing them. Like most banks, we have a system
developed in-house going back to the 1960s," said IT director Gerry
Pennell.
The financial services firm also plans to improve business
processes by introducing
scanning technology. "Rather than passing paper around, we scan
it and put it on the network. We have already started doing this in
insurance," said Pennell.
"We are also doing things with the way we manage customer data
and getting a better understanding of their needs. This means
investing in analytical software," he said.
Boots upgrades pensions
system >>
Co-op stores trial finger-scan payment system >>
Comment on this article:
computer.weekly@rbi.co.uk