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Old National Bank Makes IT Processes For Digital Banking More Efficient

The bank is pursuing efficiency by using fewer vendors for digital banking products.

By cutting out products from multiple vendors, the IT staff at Evansville, Indiana-based Old National Bank has fewer and less complicated processes to worry about while supporting digital channels at branches.

The bank had chosen to go with Fiserv to replace old branch systems and to simplify any complications that occur from having multiple vendors, says John Kamin, EVP and CIO at Old National Bank.

Signature, a banking platform from Fiserv, has been a part of the core banking system at Old National for about a decade, he says. Old National plans to implement two Fiserv products as branch systems in the next two years: Integrated Teller, software that allows connection to core applications to access data, and Aperio, a business process management software for customer data management.

For Old National, Teller allows a clerk to process transactions like deposits and withdrawals, while Aperio would allow customer service representatives at Old National to help new customers open an account.

By cutting out products from multiple vendors and installing two products from Fiserv to the core banking system, the IT staff would not have to worry about compatibility when one component of multiple banking systems has an update, Kamin notes. Fiserv would handle all the IT processes associated with the update or changes to a product.

Kamin noticed the disruptive IT processes caused by incompatibility from having diversified vendors for a number of banking systems about two years ago when he joined the Old National team.

According to Kamin, when Signature was updated, the IT team at Old National had to make sure all the other products that run on Signature worked properly.

Kamin adds, “it becomes a very arduous, difficult effort to do that over and over again. So to limit that type of activity, we felt it would be a much better decision to essentially broaden our relationship with Fiserv.”

Now the IT team spends less time on making sure products like Teller and Aperio are compatible with the core platform.

In addition to the compatibility, the integration will also allow the customer service representative a more intuitive view of the workflow. Branch processes like opening a new account and completing transactions are easier for new customer service representatives to learn because the interface will be more intuitive once the two systems are implemented, according to Kamin.

[See Also: Top Challenges Facing Bank CIOs Over the Next Year]

Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio

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Zarna Patel
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Zarna Patel,
User Rank: Apprentice
11/6/2013 | 2:20:50 PM
re: Old National Bank Makes IT Processes For Digital Banking More Efficient
In dealing with numerous branches, it totally makes sense to go with the fewest number of vendors possible or even just develop internally if funds allow the research. For banks like Old National, that have also has been acquiring and selling off branches, unifying the platform that serves branches is definitely an efficient move.
KBurger
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KBurger,
User Rank: Strategist
11/5/2013 | 10:08:54 PM
re: Old National Bank Makes IT Processes For Digital Banking More Efficient
Simplification definitely is the byword today and the need to simplify is driving a lot of systems decisions, it appears. In a way we have seen the industry go full circle -- until the early 90s the IT environment was relatively simpler because there were only a few vendors that provided most if not all of the systems infrastructure (IBM, mostly, some of the core systems vendors that are still around and many that aren't) and the proliferation of proprietary and homegrown systems prevented banks from going for too much diversity in their systems mix. With the advent of open systems, more channels and more vendors, the ability to have "best of breed" and not be forced into one supplier created more opportunities but also more complexity. Seems like we are now back to a model of fewer vendors providing more.
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