The UK operation of Bank of East Asia is preparing to replace its core banking system. The bank will also undertake a hardware upgrade to accommodate the new system.
With the 10-year licence for its existing banking system due to expire last month, Bank of East Asia's UK arm decided to put the contract out to competitive tender. This led it to choose an alternative system from Temenos.
The Temenos T24 system is a broad-based banking software suite covering all standard retail banking operations, trade finance functions and lending, business and treasury tools.
The first phase of what the bank said would be a "very controlled" migration over to the T24 system is slated for the third quarter next year. This process will precisely match the functionality of the bank's existing system with its T24 replacement, but go no further.
Once testing of the new system is complete, the bank expects to turn off the old system and switch to T24 over one weekend next August or September.
Joseph Chow, Bank of East Asia's UK general manager, said once the platform had proved its reliability the bank would begin to incrementally add the system's extra features and functionality. These include debit card processing and internet banking.
As part of the transfer to the new system, Bank of East Asia is upgrading its servers, replacing AS/400 servers with IBM pSeries servers running AIX Unix.
Although the T24 system can operate in a thin client environment, the bank plans to continue using standard desktops running Windows 2000 at both its UK branches.