Bank of Ireland ponders major IT overhaul
Bank of Ireland, one of Ireland’s “big four” banking players, is looking to modernise its legacy software, Banking Technology understands.
The bank’s current set-up is outsourced to Accenture, which manages its group technology and change division. The deal was signed in 2014, and around 200 staff transferred to Accenture from Bank of Ireland as a result.
It is believed that Bank of Ireland is looking to modernise in both Ireland and the UK.
Temenos and Capgemini – with their joint Software-as-a-Service (SaaS) offering – are being evaluated, Banking Technology understands. The offering is known as Capgemini’s Banking Platform, and is underpinned by Temenos’ flagship core system, T24.
Bank of Ireland’s UK operations stem from Bristol & West Building Society, acquired by the bank back in the mid-1990s. It is also the exclusive provider of financial services via the UK’s post office network.
The UK operations run a number of legacy systems, including Accenture’s Alnova core banking system, Sopra Banking Software’s MSS suite (savings and mortgages), DRP Consulting’s loan origination system and iConnect (supplied by another domestic vendor, HML) for loan servicing and administration.
For treasury management, there is the TMS system from Wall Street Systems (formerly IT2).
In Ireland, the bank also has a mixture of systems, including Misys’ Bankmaster for retail, Temenos/Financial Objects’ IBIS for corporate and FIS’s ACBS for syndicated lending.
On the treasury and capital markets side, it has Misys’ FusionCapital Summit and Wall Street Systems’ Wallstreet Suite.
For payments, the bank is a long-standing user of the Global PayPlus platform supplied by D+H Corporation’s payments unit, GTBS (formerly Fundtech).