Analysts believe that Citi will, ultimately, be able to save close to $110m annually through reduced maintenance costs as well as more rapid development times. Steve Randich talks about the ambitious overhaul of Citi’s banking IT systems, across 67 countries, which took seven years.

It is imperative that banks keep up to date with technology. Upgrading core systems is a multi-stage process, best approached with a transformation partner, says Rajashekara V Maiya, product manager at Infosys Technologies.

Technology is increasingly becoming a big part of mergers and acquisitions, and having a clear view of the target operations model is paramount, says Heather McKenzie.

Retail banking is predicted to remain a driving force, though it will have to adapt as customer needs change. But how a bank utilises the technology at its disposal could be crucial to its survival, says Michael Imeson.

Catering for a shifting demographic with tailor-made products and services is now firmly on the agenda, says Sanat Rao, vice-president of Infosys Technologies.

It is high time that retail banks stopped thinking of electronic channels as extensions of the branch and started thinking about the electronic structure as the foundation upon which all the channels, including the branch, are built. By Chris Skinner.

Banks and vendors are joining forces to work together to integrate their skill sets and bring new offerings to the market. Alan Duerden looks at some of the partnerships that were forged in 2007 to see how mutually beneficial this trend can be.

Europe is following Japan’s lead in the roll-out of contactless payment technology, with France and the UK leading the way in the innovation stakes. Wendy Atkins reports.

Ruth Emery assesses the likelihood of a merger between the Hong Kong, Shenzhen and Shanghai stock exchanges.

Alan Duerden explores five important New Year’s resolutions that CIOs should be making for 2008 to ensure they deliver value for money.