SlaterLabs, a US consultancy firm established by a group of banking technology veterans, is working with Microsoft to develop an end-to-end core banking system built entirely using Windows and .NET technologies.
To be known as The Etude Programme (Etude), SlaterLabs says the Microsoft-based core banking system will enable retail banks to replace existing legacy or bespoke core banking platforms with a reliable and flexible system that can be swapped out module by module.
SlaterLabs was founded in 2005 by John Slater, who created ICT (Integrated Core Technologies) which acquired – and forward developed – the Iris banking application initially developed between IBM and a group of Spanish Savings Banks in the late 1990s. In 2001 Slater merged ICT with Temenos and established the Swiss vendor's Corebanking TCB division.
The company's vice chairman Modesto Villajos was also at Temenos prior to SlaterLabs where he was responsible for TCB's client services practice worldwide.
SlaterLabs says the build will be conducted in collaboration with charter customers, who will guide the requirements and lead the onsite integration and implementation phases, with SlaterLabs providing consultancy and installation support.
Commenting on the programme, Slater says: "We are planning to build Etude from the ground up with charter customers, minimising risk as we directly address key industry issues every step of the way. Charter customers will be able to save on initial system fees while also having a say in which components are built when. We will start with core banking and will then address charter customers' needs as we progress through the build."
Under the terms of the agreement with Microsift, SlaterLabs will use the Microsoft .NET Framework, SQL Server, Visual Studio .NET, Windows Server, BizTalk Server and other key products to build the core banking platform.
David Vander, worldwide managing director of banking at Microsoft and executive sponsor of the SlaterLabs partnership, says "The Etude Programme will provide a core banking system that delivers high levels of business agility and flexibility, low total cost of ownership and will be easy to connect and integrate."
SlaterLabs and Microsoft have also agreed to jointly market and provide sales support to The Etude Programme.
The Etude Programme will initially be offered to European customers, with the potential to be offered globally in the future. SlaterLabs says charter customers that sign on early with the programme will save on system fees and be able to provide recommendations on which aspects of the system will be built first. Core banking will be the first component to be developed with go live expected in early 2007.