First Hawaiian stays with FIS but switches core systems
First Hawaiian Bank is changing core systems but staying within the FIS camp. It has used the supplier’s mainframe-based Systematics for many years and has opted for the same supplier’s IBS core platform as the replacement, reports Martin Whybrow.
The project includes FIS’s Digital One omni-channel platform at the front-end. Another component is FIS’s Code Connect API layer for connectivity.
The choice of core system and channel solutions comes despite the bank signing in 2015 with FIS’s fellow US heavyweight competitor, Fiserv, for a range of front-end systems. These included Fiserv’s Corillian Online for online banking, Mobiliti for mobile banking, CheckFree RXP for electronic bill payment, a personal payments service, Popmoney, and personal finance management tool, AllData.
As with FIS, Fiserv has a range of core banking systems. FIS’s long-standing IBS was gained with one of the supplier’s acquisitions, that of Metavante in 2009. IBS covers payments, deposits, lending, card processing, accounting and reporting, risk and compliance, sales and service, imaging, data warehouse and analytics, and cash management.
First Hawaiian is the oldest and largest full-service bank in Hawaii with more than $20 billion in assets. The bank has 55 branch locations in Hawaii, three on Guam, and two in Saipan. It is undertaking a major enterprise-wide effort that it says is focused on delivering “a customer-centric experience that inspires loyalty and enhances the capabilities of their retail branch network”.
The new core system is intended to provide the bank with “advanced digital capabilities for seamless customer experience, rich data analytics for informed decision-making, and the ability to easily integrate with third-party applications”.
An interesting combination of which I have never seen before. Had I ever recommended it to a client, they would have surely called the men with white jackets. One thing is certain, watch for lots of finger pointing. Another certainty, don’t assume this is a sign of possible merger between #1 and #2 vendors. DOJ would never approve, and the POTUS would never risk the power of his signature in view of the glory of his wish list. Granted, a few years ago I posted a dream merging IBS and T-24 (Temenos) but this sounds more like a nightmare.
Sounds terrible but who knows Maybe it’s a great idea. My opinion is the merger is wrong they should be with Wells Fargo.