Wanda Guttas, evp at Union Bank, is taking her bank on a journey few in the industry have dared - a four-to-five-year trek to a full-scale core upgrade. As program director for the integrated platform, she and her team of 100-plus people will migrate the $70 billion asset bank from 50 systems that cover checking, customer information, sales and servicing, plus commercial and consumer loans, to Finacle, a single integrated system from India-based tech giant Infosys.
"We wanted to be aggressive with acquisitions and we wanted technology that would enable us to respond to changing market conditions and handle rapid expansion," Guttas explains. The conversion will occur in multiple phases. "The first phase will include the deposit platform, customer information services, retail sales and servicing, and branch operations such as teller functionality." The branch element alone will require the migration of five or six existing platforms to Finacle.