Reserve Bank seeks new core banking system

Bank wants to implement a modern architecture

The Reserve Bank of Australia (RBA) has approached the market inviting expressions of interest for the implementation of a core banking system.

According to EOI documents, the bank is seeking a “more contemporary architecture and programming platform”.

“As the services must support critical Australian government payment transactions, it is essential that the respondent has a substantial and proven track record in the supply and implementation of the solution,” the documents state.

The RBA payments systems processes 320 million payment and 25 million collection transactions per year.

The proposed core banking system must also be hosted on the RBA’s infrastructure. The bank said it is preferable the news system is Windows- or Linux-based.

The RBA also wants the core banking solution be based on a “supportable” modern programming language, giving Java, C and .NET as example.

“If another language is used, the respondent must outline plans and approaches to minimise risk from obsolescence and related issues in skills scarcity,” read the EOI documents.

Virtualization capability will need to be achieved with VMware tcServer or Oracle WebLogic.

In addition, the system has to provide CRM, account origination, account structure, balance checking, limits and transaction posting functionality.

It must also support manual transaction processing, invoicing, cheque processing, and counter teller services.

The deadline for EOI replies is 30 July.

Follow Hamish Barwick on Twitter: @HamishBarwick

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