Isle of Man-based Alliance & Leicester International is to replace its core banking system with the Summit retail banking solution from Lynx Financial Systems. The system is due to go live by the end of this year.
The focus of the new system is to provide enhanced customer account information, improved statement production and presentation to extend service efficiency, and Internet capability.
Phase two of the project will see the bank enhance the system with Lynx's Xplore module, which is an analytical CRM solution and Interact, the Internet banking module.
Simon Hull, managing director, Alliance & Leicester International comments: "We will prove that migration to a new core system does not carry with it the inherent risk associated with such projects. We are investing a significant sum of money and management time in getting this right."