DGAP-Media: COR&FJA AG: Success criteria for the use of core banking applications: an investigation by Pierre Audoin Consultants (PAC) on behalf of COR&FJA throws light on the software trends within banks

DJ DGAP-Media: COR&FJA AG: Success criteria for the use of core banking applications: an investigation by Pierre Audoin Consultants (PAC) on behalf of COR&FJA throws light on the software trends within banks

COR&FJA AG / Enterprise .. Dissemination of a Media Release, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.

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Success criteria for the use of core banking applications: an investigation 
by Pierre Audoin Consultants (PAC) on behalf of COR&FJA throws light on the 
software trends within banks 
 
(Munich / Leinfelden-Echterdingen, 1 June 2010) - On behalf of COR&FJA, 
Pierre Audoin Consultants (PAC) investigated the success potential of 
software applications for banks. The survey confirms that a majority of 
banks are currently overhauling or optimising their core banking systems 
and that the utilisation of a suitable solution has an impact on commercial 
success. In addition, it shed light on what banks are demanding from their 
software in relation to processes critical for their business. The results 
of the analysis provide an aid for the selection and evaluation of core 
banking applications. 
 
The investigation of software use at banks shows that core banking systems 
influence banks' commercial success. A majority of banks are currently 
replacing or improving their existing applications in order to meet the 
requirements of customers and the market, as well as their own strategic 
objectives. Many banks believe that they are not yet optimally positioned 
to tackle the upcoming commercial challenges. 
 
Projects to modernise software are usually extensive in nature 
 
The banks surveyed said that their projects for overhauling core banking 
systems usually involved different areas within their banks. In particular, 
the projects encompass business management, and often bank management, 
sales and the structuring of business models as well. The requirements of 
the software used to support processes which are critical for business are 
strict: the software's functionality, its cost efficiency in application 
and operation, and its efficient and effective support for business 
processes are all of crucial significance. 
 
Advantages of using standard applications 
 
The investigation also shows that the solutions available on the market and 
their further development are being received positively by the financial 
institutions. Even though most banks these days use a mixture of standard 
and customer-specific software, most of the IT decision-makers surveyed 
confirmed that standardised solutions were either 'very suitable' or 
'suitable' for, in particular, the areas of business development, 
structuring business models, and sales. The interviewees were especially 
positive in their evaluation of the efficiency of standard applications and 
the availability of resources for their integration and operation. The 
scope of functionalities, too, is seen as an advantage. The choice of a new 
core banking system must also take account of strategic considerations 
which favour the use of standard software at most of the banks surveyed. 
 
COR&FJA and PAC will present their survey under the title 'The use of 
software at banks: suitable applications enhance your business potential' 
at the Finance Forum in Wiesbaden on 8 and 9 June 2010 (Stand 4 - Thematic 
Environment Core Banking & Outsourcing). 
 
The summary of the findings will also be available online to anyone who is 
interested immediately and free of charge at: 
 
http://cor.fja.com/fileadmin/Uploads/de/pdfs/Studien/CORFJA_PAC_Trendanaly 
se_Banken.pdf 
 
The market analysis and strategy consulting company PAC carried out the 
investigation on behalf of COR&FJA, the software and consulting supplier 
for banks and insurance companies. The survey was conducted in April and 
May 2010 and was based on interviews with more than 30 IT decision-makers 
from banks in Germany. 
 
About Pierre Audoin Consultants (PAC): PAC is a global market research and 
strategic consulting firm for the Software and IT Services Industry. PAC 
helps IT vendors, CIOs, consultancies and investment firms by delivering 
analysis and advice to address a range of growth, technology, financial, 
and operational issues. 
 
Our 30+-year heritage in Europe - combined with our US presence and 
worldwide resources - forms the foundation of our ability to deliver 
in-depth knowledge of local IT markets, anywhere. We employ structured 
methodologies - undertaking thousands of annual face-to-face interviews on 
both the buy and sell side of the market, as well as a bottom-up, top-down 
approach - to leverage our research effectively. 
 
PAC publishes a wide range of off-the-shelf and customized market reports - 
including our best-selling SITSI(R) program - in addition to our suite of 
strategic consulting and market planning services. With 16 offices across 
all continents, we deliver the insight that can make a difference to your 
business. 
 
For more information, please visit our website at www.pac-online.com. 
 
About COR&FJA: The COR&FJA Group is one of the leading software and 
consulting firms for the European financial services industry, focusing on 
banks and insurance companies as well as company pension scheme 
organisations. The services range from standard software via consulting 
through to taking over IT operations (Application Service Providing). The 
COR&FJA Group employs more than 1,000 people at locations in 
Leinfelden-Echterdingen, Munich, Stuttgart, Düsseldorf, Frankfurt, Hamburg, 
Kiel and Cologne and has subsidiaries in the Netherlands, Austria, 
Switzerland, Slovakia, Slovenia and the US. 
 
Further Information: www.cor.fja.com. 
 
Press contact: 
 
If you have any queries about the article and/or the survey, please 
contact: 
 
Eike Bieber, Tel: [phone] 
mailto:[e-mail] 
Pierre Audoin Consultants (PAC) GmbH 
Holzstraße 26 
80469 München 
Tel:  [phone] 
Fax: [phone] 
E-Mail: mailto:[e-mail] 
Web: http://www.pac-online.com 
 
Lars Hoffmann, Tel: [phone] 
mailto:[e-mail] 
COR&FJA AG 
Karlsruher Straße 3 
70771 Leinfelden-Echterdingen 
Tel:  [phone] 
Fax: [phone] 
E-Mail: mailto:[e-mail] 
Web: http://www.cor.fja.com 
 
 
.. Ad hoc announcement, Financial News and Media Release distributed by DGAP. 
Media archive at www.dgap-medientreff.de and www.dgap.de 
 
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Language:     English 
Company:      COR&FJA AG 
              Karlsruher Straße 3 
              70771 Leinfelden-Echterdingen 
              Deutschland 
Internet:     www.cor.fja.com 
 
End of News                                     DGAP-Media 
 
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(END) Dow Jones Newswires

June 01, 2010 04:21 ET (08:21 GMT)