Core Banking Modernization at Commbank (CBA)- Reetesh Vadodaria

Strategic Objectives● Real-time banking (by straight-through

processing)● Customer-centric processing● Customer offerings● Industrialization● Multi-entity

At a Glance● Six-year program, from 2008 to 2013● Completed on-time● Cost 2x ($1.1 B) more than planned● 12 million customers migrated● 20 core systems and 130 other systems

modernized● 1,500 staff involved in the program

The Beginning (2008)● 2 years of restructuring of bank’s IT function● Program launched on April 28, 2008● SAP for Banking Solutions chosen to

replace the 45-year old legacy system● Accenture selected as implementation

partner

Scope

Platform Stack

Risk Mitigation● Stage-wise migration approach adopted● CommSee (frontline customer interface) and

internet systems retained

The ½ Waypoint (2011)

The ½ Waypoint (2011)

The End

Key Achievements● 12+ million customers migrated● 11+ million retail and business deposit and

transaction accounts migrated● New payments hub live and operational -

820 transactions per second at peak● Major Business Lending release (~300,000

days effort) went live on 14th May

Efficiency Benefits● Full elimination of 26 processes

(productivity)● 15% balance enquiry call reduction

(customer self-service)● 870 product combinations translated to 100

SAP pricing options (product rationalization)● 105 re-usable and interoperable capabilities

(standardization and industrialization)

Thank You!

● Market briefing presentation by CBA● CBM presentation by CBA● CEO's address and slides, 2011 annual

general meeting

Sources