Will Harrods Bank finally manage to overhaul its legacy core software?

Will Harrods Bank finally manage to overhaul its legacy core software?

Will Simon Bateman, the new CIO of London-based Harrods Bank, restart the bank’s long-suffering core banking software overhaul?

Bateman moves from another UK-based bank, Aldermore, where he spent around three years, first as transformation and change director and then as head of IT for the savings business line. Aldermore, a small domestic bank focused on the SME sector, went through a technology revamp a few years back and implemented a new core banking system, Temenos’ T24.

Prior to his stint at Aldermore, Bateman worked on various IT projects at a UK banking heavyweight, Lloyds.

He surely has his work cut out for him at Harrods – the bank has been looking to replace its legacy core system, Misys’ Bankmaster, for a number of years now but so far with no result. The protracted selection process finally concluded last year, with FIS signing the deal to implement its Profile core banking system at Harrods. It is understood that Temenos also bid for the deal with its T24 offering.

However, shortly afterwards, there was a major senior management overhaul at the bank, including the departure of the senior executives responsible for selecting FIS’s Profile.

There were also management changes at FIS in the UK. Ian Benn, the vendor’s COO for the EMEA region moved on and is now at MD of Northern Europe at Ingenico Group. Mark Davey, EVP of international business at FIS, also left – according to his LinkedIn page, he “has retired from corporate life”.

With no tangible results delivered, the Profile roll-out was put on hold at Harrods Bank, Banking Technology understands. No decision on what’s next has been taken yet, it is believed.

Harrods Bank operates from the Harrods store in Knightsbridge. It offers personal banking services such as mortgages, loans, high-value current accounts, debit cards and savings, and also business banking services.