Management Memorandum Date: To: Executive Vice President & Chief Financial …layoftheland.net/archive/web/mis-575/course_info/Fifth... · 2006-12-07 · Management Memorandum Date:

Management Memorandum Date: May 4, 2003 To: Neal E. Arnold, Executive Vice President & Chief Financial Officer Diane L. Dewbrey, Senior Vice President James J. Hudepohl, Executive Vice President Fifth Third Bank, Inc. From: MIS Team Re: Business Network Redesign of Fifth Third Bank

We are pleased to present the enclosed proposal for the Business Network Redesign of Fifth Third Bank for your review. After extensive research and analysis over the last several weeks, Highfield, Rekapalli, and Moxford have applied their training and experience in management information systems to develop a plan that will strategically align Fifth Third’s growth strategy with a more flexible, efficient organizational and network infrastructure. With minimal investment and immediate gains, we propose changes in the following areas:

• Network integration improvements • Organizational restructuring • Consolidation of services

By utilizing much of the existing infrastructure, corporate system, and personnel, we propose simplifying the organization to allow faster and more efficient bank acquisition and easier management of a quickly growing service area. Immediate gains include cost savings through consolidation of select services and subsidiaries as well as additional revenue from faster acquisition integrations. Sincerely, Myron Highfield, Ravi Rekapalli, Jane Moxford.

The problems with the success of Fifth Third BanCorp

The Problems with Success of Fifth Third Bank

A Case study for the requirement fulfillment of MIS575, Spring 2003

Analysis and submission by MIS Team

Under the Guidance of Dr. Apiwan Born

Department of Management Information Systems College of Business and Management

University of Illinois at Springfield Springfield, IL - 62794.

5/6/2003


Table of Contents

1. INTRODUCTION ................................................................................................................................ 1

2. GENERAL DESCRIPTION OF THE ORGANIZATION............................................................... 1 2.1 IDENTIFICATION OF OVERALL BUSINESS WITHIN ITS INDUSTRY ....................................................... 1 2.2 LOCATION OF TARGET ORGANIZATION WITHIN THE ORGANIZATION................................................ 2 2.3 MISSION, OBJECTIVES, BUSINESS STRATEGY, INFORMATION TECHNOLOGY STRATEGY ................... 2 2.4 MOTIVATION FOR IMPROVEMENT AND SIGNIFICANCE OF THIS PROJECT .......................................... 3

3 DESCRIPTION OF THE CURRENT ORGANIZATION, INFRASTRUCTURE AND PROCESSES................................................................................................................................................. 5

3.1 DESCRIPTION OF THE EXISTING ORGANIZATION.............................................................................. 5 3.1.1 Service Structure..................................................................................................................... 5 3.1.2 Division and Affiliate Structure .............................................................................................. 5 3.1.3 Line of Business and Subsidiary Structure ............................................................................. 6 3.1.4 Current Information infrastructure and Architecture............................................................. 7 3.1.5 Integration Transition - Information Architecture for acquired banks................................... 9 3.1.6 Operational Redundancy, Backup & Disaster Recovery Infrastructure................................. 9 3.1.7 Current Network Architecture for the Fifth Third BanCorp................................................. 10

3.2 PROBLEMS AND OPPORTUNITIES........................................................................................ 11 3.2.1 Aggressive Growth ............................................................................................................... 11 3.2.2 Transition of Services ........................................................................................................... 11 3.2.3 Network Integration.............................................................................................................. 12

3.3 PERFORMANCE MEASURES............................................................................................................ 12 3.4 EXTERNAL MEASURES .................................................................................................................. 13

3.4.1 Government .......................................................................................................................... 13 3.4.2 Consumer Information Sources ............................................................................................ 14

3.5 INTERNAL PERSPECTIVES .............................................................................................................. 15 4 PROPOSED ORGANIZATION AND PROCESSES CHANGES................................................. 15

4.1 DESCRIPTION OF THE PROPOSED ORGANIZATION. ......................................................................... 15 4.1.1 Phase-I Divisional & Affiliate Structure Changes................................................................ 16 4.1.2 Phase-II Line of Business & Subsidiary Changes ................................................................ 17 4.1.3 Phase-III Network Changes: ................................................................................................ 18 4.1.4 Phase-IV Application Integration Changes .......................................................................... 19 4.1.5 Phase-V Training of the employees ...................................................................................... 20

4.2 REVIEW POTENTIAL TECHNOLOGY ................................................................................................ 20 4.2.1 Application Integration......................................................................................................... 20 4.2.2 Network Changes.................................................................................................................. 21

4.3 ROLE OF INFORMATION TECHNOLOGY AS A CHANGE AGENT ....................................................... 21 4.3.1 Business Network Redesign .................................................................................................. 22 4.3.2 Organizational Restructuring............................................................................................... 23 4.3.3 Consolidation of Services ..................................................................................................... 23

4.4 ESTIMATE OF COSTS AND BENEFITS.............................................................................................. 23 4.4.1 Network Costs....................................................................................................................... 23 4.4.2 Organizational Costs ............................................................................................................ 25

4.5 BENEFITS....................................................................................................................................... 25 5 IMPLEMENTATION PLAN ............................................................................................................ 26

5.1 BEHAVIORAL IMPLICATIONS ......................................................................................................... 26 5.1.1 Promotes Growth.................................................................................................................. 26 5.1.2 Enhances Manageability ...................................................................................................... 26 5.1.3 Increases Competitiveness.................................................................................................... 27 5.1.4 Minimal Training.................................................................................................................. 27

5.2 MANAGERIAL IMPLICATIONS ........................................................................................................ 27

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5.2.1 Organizational Restructuring............................................................................................... 27 5.2.2 Consolidation of Services ..................................................................................................... 28 5.2.3 Network Integration Improvements ...................................................................................... 28

5.3 CONCLUSIONS AND RECOMMENDATIONS...................................................................................... 29 6 REFERENCES ................................................................................................................................... 30

5/6/2003

Problems with the success of Fifth Third BanCorp

1. Introduction

Fifth Third Bancorp is a full financial services corporation that is headquartered in

Cincinnati, Ohio. It has approximately 81 billion in assets and was ranked first for eight

consecutive years by Salomon Smith Barney Top 50 Bank Annual. The company

currently operates 17 affiliate banks with a total of 960 full-service banking centers, and

144 Bank Mart® locations that is open seven days a week inside grocery stores. Fifth

Third operates in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, and

West Virginia. There are over 1,899 ATM locations that operates under the Jeanie®

network name. The company has one of the highest deposit ratings of AA- and Aa2 from

Standard & Poor's and Moody's, respectively. Fifth Third provides a complete line of

credit, and debit card products. It is one of only a few banks in the nation to issue their

own cards and also provide the computer processing for the customer account activity.

The Fifth Third Bank name is somewhat unusual, and people ask where the name

originated. The history of Fifth Third Bank dates back to 1858 to its predecessor name

called the Bank of the Ohio Valley. It first opened its doors in Cincinnati, Ohio, which is

the heart of the Ohio Valley. In 1871, the Third National Bank purchased the Bank of the

Ohio Valley. In 1900 the Third National Bank merged with the Fifth National Bank and

was renamed to Fifth Third Bank. In 1975, the bank incorporated to its current name

known as Fifth Third Bancorp.

2. General Description of the Organization

2.1 Identification of overall business within its industry

Fifth Third Bancorp is a state regulated full financial services institution. The

organization is divided into four main businesses: Retail, Commercial, Investment

Advisors and Fifth Third Bank Processing Solutions. The bank’s information processing

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is controlled by Fifth Third Bank Processing Solutions formally known as Midwest

Payment Systems. The company’s common stock symbol is “FITB” and is traded

through the NASDAQ stock market.

Fifth Third Bancorp has proven itself to be one of the nations most profitable banks.

It has had 28 years of consecutive earning increases at an average rate of 16%. It has been

rated Aa1 with Moody’s Investor service, and outperformed the S&P 500 by 16-fold.

Only 1 of 4 banks receives this rating. It has one of the lowest operating efficiency ratios

in the industry, and ranked among the highest in capital ratio.

2.2 Location of target organization within the organization Fifth Third Bank handles its own IT processing and also the transaction processing,

for more than 180,000 retail locations and financial institutions worldwide. A few of the

well-known retail names are: The Kroger Co., Abercrombie & Fitch, Nordstrom, Inc.,

and The Finish Line. The IT processing subsidiary of the bank is known as Fifth Third

Bank Processing Solutions and is headquartered in Cincinnati, OH. It processes

approximately eight billion ATM and POS transactions per year. It also handles the vast

amount of day-to-day transactions from its multiple banking locations, and affiliate

locations.

2.3 Mission, objectives, business strategy, information technology strategy The operating model and strategy for Fifth Third Bancorp is focused on the service of

four primary businesses: Commercial, Retail, Investment Advisors, and Fifth Third

Processing Solutions, the bank’s electronic payment processing subsidiary. The structure

of Fifth Third is based upon the affiliate banks (currently at 17) that operate as a

collection of decentralized operations. Each of its affiliate banks is centered in major

metropolitan markets with decision making at the local affiliate bank level. Each affiliate

5/6/2003 2 of 31


bank has a separate president with authority to make key decisions at the local level.

Fifth Third corporate management retains the authority for decision making in the areas

of capital planning, long-term strategic planning, marketing, financial management,

investment and asset/liability management, and technology. The affiliate banks maintain

the full managerial responsibilities for customer service and the day-to-day operations of

their geographic locations. Each affiliate bank has its own sales structure and is

responsible for their bank’s profits or losses. Fifth Third employees are given the

opportunity to take ownership in the company through bonuses and stock purchase plans.

This provides a culture that drives results.

Fifth Third uses it’s subsidiary Fifth Third Processing Solutions to provide IT

processing for the corporate office, its affiliates, and retail services. It has two principle

businesses: Merchant Services and Electronic Funds Transfer (EFT) Services. This has

been Fifth Third’s strategy and business model for more than 20 years. The company

continues to be aggressive in acquiring new banks and reproducing the model within the

major metropolitan areas of the Midwest.

2.4 Motivation for improvement and significance of this project

Fifth Third Bank has been aggressively acquiring new banks as its growth strategy.

The company moved from the eighth ranked bank acquirer to the fifth largest acquirer

according in the Nilsson Report (February, 2002). As new banks are acquired, it

becomes necessary to integrate the acquired bank’s services into the Fifth Third Bank

infrastructure. There are many challenges that are involved in the integration process. The

most common integration issues are different banking applications, different IT

environments, different banking services, different operational standards, and procedures,

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and personnel training. For each acquired affiliate bank, Fifth Third will offer its own line

of products and services and discontinue the affiliate bank’s services.

Fifth Third has a conversion team that works with each acquired bank to migrate

existing customer accounts into the Fifth Third database structure for each of the banking

applications. The process requires an analysis of the existing bank applications, and

significant time to convert the file formats into the Fifth Third format. During the

migration period, Fifth Third will use a daily data feed to transmit customer account

transactions back to the corporate facility. During this interim period, customers may

experience synchronization delays in their account transactions, and frustration with less

than full service capabilities to Fifth Third’s product line. During the first phase of the

migration, the customer data is transmitted nightly through a batch transmission process

and synchronized between the corporate, affiliate, and branch accounts. The complete

integration process is labor intensive, time consuming, and a tedious undertaking that is

prone to errors. Each conversion effort is different, and requires a highly skilled staff to

understand the existing IT environment and make the necessary transitions. The

conversion effort can take anywhere from a few weeks to many months depending upon

the complexity and size of the existing IT infrastructure. This period of time may also

delay the consideration for additional bank acquisitions. The issue that is of utmost

significance to this project is the simplification, and streamlining the process of

integrating the acquired bank customer information into the Fifth Third IT infrastructure.

It is also important from a customer point of view, to provide a transparent turnover from

the previous banking services to Fifth Third’s product and services. In addition, this must

be accomplished without changing the independent nature of the affiliate bank that Fifth

Third wants to retain.

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3 Description of the current Organization, Infrastructure and Processes

3.1 Description of the existing Organization

3.1.1 Service Structure

Fifth Third Bank operates under a unique service structure, which could be attributed

to its operational success. The corporate entity in the service structure is the Fifth Third

BanCorp. The operations are divided among the geographic divisions mostly based upon

the states. Each division will have different affiliates. Affiliates control the Line of

business, banking Centers. Each banking center will have a relationship officer who will

look after various needs of customers.

3.1.2 Division and Affiliate Structure

Fifth Third BanCorp is the corporate entity, which is divided into 7 divisions and

17 affiliates. Each of the affiliate is responsible for one geographical area. Each of these

affiliates operates as a decentralized operational unit with most of the decision-making

conducted at the local level. The operating style is driven by emphasis on local

independence and decision-making authority. A regional president leads each of these

affiliates and controls the customer service and ongoing day-to-day operations of their

respective geographies, where as the corporate management team focus on capital

planning, long-term strategic planning, investment & asset liability management,

technology and financial management. Figure 3.1 illustrates the geographic distribution

of the Fifth Third affiliates and its divisional structure. Fifth Third strategy involves

expansion through mergers and acquisitions. Whenever Fifth Third acquires a new bank,

it integrates the operations of the new bank and its branches into these 17 affiliates based

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on their geographic location and passes on the operational control to the acting president

of that affiliate.

Fifth Third BanCorp

Ohio Michigan Kentucky Indiana Illinois Florida Tennessee

Cincinatti

Dayton

Columbus

Toledo

Cleveland

Ohio Valley

WesternMichigan

Detroit

NorthernMichigan

Louisville

North Kentucky

Lexington

SouthernIndiana

Indianapolis

Chicago Florida Nashville

Fifth Third BanCorp Divisions & Affiliates

Figure 3.1

Each affiliate operating under a geographic area has multiple banking centers or

branches. A manager manages each of these branches and the Relationship officer

provides customers of that branch the required personal attention and the banking needs.

Each branch will have more than one relation ship officer serving different customers.

3.1.3 Line of Business and Subsidiary Structure

The affiliate president will over see all the lines of business of Fifth Third that are

under his / her geographic banking centers. Fifth Third operates under 5 lines of business

through its 11 subsidiaries as shown in the figure 3.2. All of these subsidiaries provide

their services from the affiliate branches and through the operating infrastructure of the

Fifth Third branches. The following diagram illustrates the subsidiary structure of the

5/6/2003 6 of 31


Fifth Third. Whenever Fifth Third acquires a new subsidiary, it will be integrated into

one of the existing line of business and the services will be offered through the existing

operational infrastructure.

F i f th T h ir dP ro c e s s in g

s o lu t io n s

F if th T h irdF in a n c ia l C o r p

F if th T h r idC o m m u n ity

D e v e lo p m e n tC o rp o r a t io n

F if th T h irdIn s u ra n c e

S e r v ic e s In c .

F if th T h irdIn v e s tm e n t

c o m p a n y

H e a r t la n dC a p ita l

M a n a g e m e n tIn c .

F if th T h irdS e c u r it ie s In c .

M id w e s tP a ym e n tS ys te m s

F if th T h irdM e rc h a n tS e rv ic e s

F if th T h ird B a n c o rp - L in e s o f B u s in e s s & S u b s id ia r ie s

F if th T h ird B a n C o rp

R e ta i l C o m m e rc ia l In v e s tm e n ta d v is o rs

E le c tro n icP a ym e n t

F i f th T h ir dD ir e c t

F if th T h irdM o r tg a g eS e rv ic e s

F if th T h irdF in a n c ia l C o r p

C o m m u n ityS e rv ic e s

Figure 3.2

Fifth Third Financial Corporation is a flagship subsidiary of Fifth Third BanCorp,

which provides all the Retail and Commercial banking services for the Fifth Third bank.

All the affiliate banks fall into the umbrella of this subsidiary. This is the only subsidiary

spanning over two lines of businesses for the Fifth Third BanCorp.

3.1.4 Current Information infrastructure and Architecture

The robust and complex organizational structure of the Fifth Third BanCorp is

closely integrated with the corporate Information Systems Infrastructure. The retail

banking terminals span all over the affiliate branches and are interconnected to the

mainframe computers located at the corporate HQ in Cincinnati, OH. All the branches

are networked to the corporate HQ data processing center through the leased

telecommunication lines, backbone networks and Local area Networks. All the business

transactions at the affiliate branches of Fifth Third are processed real time at the Data

processing center at Cincinnati, OH. Fifth Third BanCorp has a state of the art

5/6/2003 7 of 31


worldwide web infrastructure, coupled with robust Mainframe batch and Transaction

processing system. Fifth Third’s “Electronic Payment” line of business has a different IT

infrastructure when compared to the retail and commercial banking infrastructure. This

line of business has credit card & debit card issuing banks as its customers and network

involves interconnecting these customer’s network infrastructure to the Fifth Third’s

corporate IT infrastructure and performing the business transactions. This will involve

interconnecting the customer banks, credit unions, ATMs, offering merchants and

clearing houses. The following network diagram illustrates the IT infrastructure and

systems architecture for the electronic payment services. This complex network structure

coupled with exceptional IT processing capabilities has provided a competitive edge to

Fifth Third BanCorp in the area of Electronic Payment services. Fifth Third BanCorp has

integrated all of the IT service transactions into one enterprise database. Figure 3.3

illustrates the current IS architecture and available infrastructure.

Figure 3.3

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3.1.5 Integration Transition - Information Architecture for acquired banks

It is a well-known fact that Fifth Third’s success was due to the acquisition of the

local banks and integrating them into the fifth third’s infrastructure. The acquired bank’s

IT infrastructure is not necessarily the same as Fifth Third’s. Before the bank is

completely integrated, Fifth Third uses a process of daily data feeds from the local banks

to the Fifth third’s corporate database. This feed is sent out once a day and the data feed

is formatted into the Fifth Third’s information layouts. This feed typically contains the

customer information, transaction summaries and other reports. Figure 3.4 outlines the

IT architecture for the banks whose integration is in transition.

DB2 databse

Mainframes OS 390

OracleDatabaseDB2

databse

Mainframes OS 390

Acquired Bank A(integration in transition)

Acquired Bank B(integration in transition)

Daily Data FeedDaily Data Feed

Client Server Architecture

DataConverter

Figure 3.4

3.1.6 Operational Redundancy, Backup & Disaster Recovery Infrastructure

Fifth Third has two independent computer sites one located at the corporate HQ in

Cincinnati, OH and the other at Grand Rapids, MI. The site at Grand Rapids, MI acts as

a data redundancy center. This duality allows Fifth Third to ensure processing

redundancy by simultaneously and independently running multiple mainframe computers

at each site. Fifth Third also utilizes a unique power grid, which includes three separate

5/6/2003 9 of 31


sources of power, any of which has enough capacity to run all of our systems

independently. This system configuration is unique and superior to any other setup we

know of in the industry, making Fifth Third one of the only processors to provide this

level of disaster recovery support. In addition to the redundant processing facilities, Fifth

Third maintains a hot site in Toledo, Ohio. This site has the same hardware and software

as the Cincinnati site, but is on standby to process transactions in case of an emergency.

Figure 3.5 shows a schematic representation of the current Data redundancy, data backup

and Disaster recovery infrastructure for the Fifth Third bank.

Figure 3.5 Figure 3.6

3.1.7 Current Network Architecture for the Fifth Third BanCorp

Each of the branches and the affiliate bank HQs local area networks are connected

to the corporate IT infrastructure directly either using leased lines or the dial up

connections. Figure 3.6 illustrates the current Network architecture for the Fifth Third

Bancorp.

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3.2 PROBLEMS AND OPPORTUNITIES

Fifth Third’s successful growth over the years is due to several reasons: an aggressive

growth strategy, management’s commitment to customer service, and the use of

technology to support their growth both geographically and through the number and

diversity of available services. Geographically, their aggressive growth strategy includes

the expansion of service areas in concentric circles from their headquarters in Cincinnati

(Engen, 2002), accomplished by the regular acquisition of new banks. The accumulation

of diverse services has resulted in a somewhat complex network of subsidiaries and

affiliates. Each new bank purchased is both an opportunity for growth and a challenge to

incorporate into the growing family.

3.2.1 Aggressive Growth

Fifth Third’s growth strategy includes the expansion of service areas in concentric

circles. As banks are acquired, they are placed into affiliate and state divisions; however,

this organizational structure is becoming more complex and will become more difficult to

manage properly as the growth expands beyond the Midwest. Another problem is in the

integration of each bank’s information system, which usually has their own set of

services as well as different processing configurations such as platform, software,

transmission, data structures, and file structures. How the transfer of ownership proceeds

affects existing customers and potential customers alike, so a smooth transition is

important in retaining and attracting new business.

3.2.2 Transition of Services

One of the main issues in the integration of new banks into the Fifth Third family is the

transition of services, including ATM, mortgages, financial products and traditional

5/6/2003 11 of 31


banking products. Each new bank acquired must quickly phase out and convert existing

services to Fifth Third services. This is can be a difficult transition for both acquired

bank and local customers alike to adjust to potential changes in operation hours, quality

of service, lending practices, number of services available, etc.

3.2.3 Network Integration

The frequency of bank acquisition and the need to assimilate data quickly into their

information systems has driven Fifth Third to develop a temporary configuration system

of data feeds and automatic conversion. This process is in place until the existing network

is properly configured to connect directly to the processing center in Cincinnati. The

deployment of the temporary system must be as quick and robust as possible, preventing

or reducing errors. Both temporary and direct connect network implementations are

mission critical as the operation of the bank is dependant upon this system to operate.

3.3 Performance Measures

Since Fifth Third Bank is a large, multi-state financial institution there are many

regulations, measures, and rating systems that are used to analyze their performance and

compliance. It is vital that financial institutions are monitored by these measures in order

to maintain integrity, stability and protect consumers from fraud. Some measures are

based on creditworthiness and financial performance, other measures are based on the

organization’s compliance with regulations and filing requirements, and still others

measure the organization’s competitiveness within the industry.

These measures can be placed into two categories: external and internal. External

measures include government regulators, consumer protection agencies, investment

research services, and the media. Internal measures include auditing (internal and

independent), staffing standards and policies, and operational committees. Some

5/6/2003 12 of 31


measures are fixed measurements using calculations and proportional rating systems

while others are more empirical and categorical in nature, relying on subjective opinions

and specific principles rather than verifiable numbers. Both equally help consumers,

vendors, investors, and regulators to monitor and assess organizations like Fifth Third.

3.4 External Measures

3.4.1 Government

Since the Great Crash of 1929 and the ensuing Great Depression, several government

agencies have been charged with regulating and monitoring the banking and security

market industries to significantly reduce the risk of another large-scale financial disaster.

Fifth Third Bank offers both traditional banking services as well as investment services,

such as stocks and mutual funds, and therefore is governed by both sectors of government

financial regulators.

On the banking end of Fifth Third, the Federal Deposit Insurance Corporation (FDIC)

and Federal Financial Institutions Examination Council (FFIEC) and The Office of the

Comptroller of the Currency (OCC) provide monitoring of financial soundness, site

examinations, and insures against bank failures. The FDIC issues insurance policies on

deposit accounts (savings, checking, certificates of deposits), performs assessments of

financial condition, corporate and management policies, monitors compliance with

regulations, and even monitors online and electronic banking practices for safety and

security. The FFIEC issues Uniform Bank Performance Report (UBPR), a voluntary,

standard report that collects banks’ financial data and rates them within a peer group. The

reports are available publicly, easily found through their website at www.ffiec.gov, and

are used for internal and external analysis. Internally, a bank uses the peer information to

gauge how management decisions and bank performance fares competitively. Externally,

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http://www.ffiec.gov/


the form is used by bank examiners, from government agencies such as the FDIC and

The Office of the Comptroller of the Currency (OCC) to analyze the financial soundness

and stability.

On the securities side of Fifth Third, the institution is primarily regulated by the (SEC).

The SEC requires publicly held companies and securities firms to report specific

information regarding its financial condition, disclosures of security sales. The National

Association of Securities Dealers (NASD) is the primary examining authority for the

securities industry. It routinely reviews both the financial and operational condition of

securities firms, as well as their sales practices.

3.4.2 Consumer Information Sources

There are many types of consumer information sources that provide specific company

information and comparison tools for many industries, products and services. Fifth Third

Bank is a long-time member of the Better Business Bureau (BBB), which sets standards

of self-regulation and business ethics. Their website, www.bbb.org, provides disclosure

of consumer complaints and resolutions to aid in the determination of a company’s

reliability. Fifth Third does have several complaints and resolutions registered on the

BBB; however, the number seems extremely low, less than ten, considering the

thousands of transactions that they process each day.

Investment information sources, such as Merrill Lynch, Smith Barney, Bloomberg, and

Barron’s websites and publications all provide useful information for investment

research. Many of these and other similar sources use financial indicators such as

Price/Earnings (P/E) ratio used to evaluate and compare company's earnings.

Additionally, there are several websites such as Bankrate.com that compare the interest

rates of banking products and investment advice. Each has their own rating systems, Top-

5/6/2003 14 of 31

http://www.bbb.org/

http://www.bankrate.com/


100’s, Favorites List, Best-of’s, and Fifth Third regularly appears on the banking lists for

growth, performance, and even ethics. Dun & Bradstreet surveys and evaluates

companies for creditworthiness. Although geared toward business-to-business services,

they provide business consumers with information so they may determine the risk of

doing business with a firm like Fifth Third. Similarly, investor services such as Standard

& Poor and Moody's provide stringent ranking systems widely used across many

industries. Fifth Third’s recent ratings are AA- (S&P) and Aa1 (Moody’s), which indicate

a very safe financial institution.

3.5 Internal Perspectives

Fifth Third Bank prides itself on its “Corporate Governance and Oversight” policy that

pledges self-governance and oversight of financial and operational prudence. In light of

the Enron, WorldCom and other similar financial fraud cases that shook the already

unstable stock market in recent news, Fifth Third sets corporate liability as a priority to

ensure consumers that they are safe to bank with and invest in. Included in the self-

governance policy are annual performance evaluations of everyone all the way up to the

members of the Board of Directors. Specific committees are also in place to govern and

monitor specific areas of the business, such as the Audit Committee, responsible for

ensuring the integrity of the financial statements, hiring independent auditors, and

monitoring internal controls.

4 Proposed Organization and Processes changes

4.1 Description of the Proposed organization.

The growth strategy of Fifth Third Bank is highly dependent upon future bank

acquisitions, and the continued customer satisfaction of Fifth Third services. The intent of

the new transformed organization/process is to simplify, and streamline the integration

5/6/2003 15 of 31


process of acquired banks in order to provide the full suite of services to Fifth Third’s

new acquired customers in a timely manner. The change to the organization will be a

single integrated solution that will require a phased approach for implementation. Phase-I

will require a realignment of the divisional and affiliate structure. The intent is to position

new acquired banks into regional affiliate zones. This has the effect of reducing the

overall numbers of affiliate structures to maintain. It also creates a HUB and spoke

architecture between the bank branch offices, and the regional affiliate. The HUB and

spoke architecture also exists between the affiliates and the corporate office. Phase-II

will consolidate a few of the overlapping lines of business to simplify the application

integration and reporting structures. This will reduce the integration work effort for the

new acquired banks. The strategy for Phase-III is to restructure the network configuration

and build the HUB and spoke architecture discussed in Phase-I. This also adds

responsibilities to the affiliate to provide IT services to its connected branch offices.

Phase-IV is the application integration. This change will provide a bridged solution to

integrating a new acquired bank into the Fifth Third application infrastructure using

vendor supported software data adapters. The final Phase-V is the organizational training,

and technical training for the bank employee users, and technical conversion teams. The

following will describe each Phase in more detail.

4.1.1 Phase-I Divisional & Affiliate Structure Changes

The current Fifth Third Bank divisional structure is based upon state operating

geographical areas. If Fifth Third continues its growth strategy, it will need to change

from the current state divisional structure, to a regional zone structure such as east, west,

south, etc. The new acquired banks will be absorbed into the nearest affiliate location.

Currently, there are 17 affiliates in 7 states. The recommendation is to merge the affiliate

5/6/2003 16 of 31


banks into the regional zone structure. In cases where two affiliates are currently in the

same regional zone, one of the affiliates will become a regional branch to the other

affiliate. Figure 4.1 illustrates the proposed affiliate and divisional changes.

Fifth Third BanCorp.

North East East Midwest South West SouthEast

Florida &TennesseeKentuckyMichigan

Indiana & Illinois

Ohio & OhioValley

Virginia &Washington

New York Scope forexpansion

Figure 4.1

4.1.2 Phase-II Line of Business & Subsidiary Changes

Fifth ThirdProcessing &

Paymentsolutions

Fifth ThirdFinancial Corp

Fifth ThridCommunity

DevelopmentCorporation

Fifth ThirdInsurance

Services Inc.

HeartlandCapital

ManagementInc.

Fifth ThirdSecurities &

Investments Inc.

Fifth ThirdMerchantServices

Fifth Third BanCorp

Bankingservices

Investmentadvisors

ElectronicPayment

Fifth ThirdDirect

(EBPP)

Fifth ThirdMortgageServices

CommunityServices

InsuranceServices

Figure 4.2

Fifth Third was operating under five lines of business (retail, commercial,

electronic payment, investment advisors, and community services). All affiliate banks fall

under the subsidiary Fifth Third Financial Corporation. This subsidiary crosses both

retail and commercial lines of business and the services of this subsidiary are offered

from the same branches of the bank and the same customer representatives. Because of

5/6/2003 17 of 31


this similarity of operations it is recommended to combine the retail and commercial lines

of business. The electronic payment line of business is controlled by three subsidiaries

(FTPS, MPS, and Fifth Third Direct). It is recommended to combine the MPS, and FTPS

into a single subsidiary because of the similarities in the nature of services provided by

these subsidiaries. The “investment advisors” line of business is controlled by three

subsidiaries. Fifth third securities and Fifth Third Investment Company both offer wide

variety of mutual funds, and offer financial advice to its customers. It is recommended to

combine these two subsidiaries into a single subsidiary and consolidate the similar

services. This way they could eliminate the competition between the subsidiaries

offering similar products. The Insurance services forms an entity of its own. So it makes

sense to create a new line of business for the insurance services and align this “Fifth

Third Insurance Services Inc.” under this line of business. Figure 4.2 illustrate the

proposed Business and subsidiary structure changes

4.1.3 Phase-III Network Changes:

Figure 4.3

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In order to accommodate the application integration in a timely manner, the network

configuration must also be changed in the transformation process. The following are

organizational/process changes that are recommended in the short, and long term. Each

affiliate bank will be setup as a network HUB. The HUB will host the computing needs

of the affiliate branches, and will use the Fifth Third corporate HQ database to host the

customer account data to avoid data replication. Acquired banks that are in the transition

stage will be networked to an affiliate HQ using an ISDN line until the LANs can be

established. All local branches should be networked as Ethernet based secure LANs. In

some locations, this has already occurred. In major cities where Fifth Third has more

than10 branches, a WAN should be built and all LANs of the local branches connected to

this WAN. All the local LANs and MANs under an affiliate HQ bank will be connected

to the affiliate HUB. Figure 4.3 illustrates the proposed network changes.

4.1.4 Phase-IV Application Integration Changes

Corporate HQ,Cincinnati OH

East Network Servers

Ohio and OhioValley Affiliate

Ohio Network Servers

Branch 2

Branch 3

Branch 1

DB2databse

Mainframes OS 390

DB2databse

Mainframes OS 390

Branch 1

Branch 2

VPN

Data Adaptorsand

Data Blastersfor data

conversion

Acquired Bankin IT Transition

Figure 4.4

The solution provides the ability to expedite the transformation of the acquired

banks data into the Fifth Third database structure. Currently this is a labor, and time

intensive process, requiring a team of highly skilled programmers, and application

5/6/2003 19 of 31


solution architects. The new approach can be simplified, and accomplished through the

use of IT by adding a data adapter middleware solution. This will act as an application

integration layer between the application front-end of the acquired bank, and the Fifth

Third corporate HQ. Each online customer transaction from the new acquired bank will

automatically be transformed into the required format for the Fifth Third corporate back

office processing. This solution uses vendor-supplied software and requires minimal

programming effort, or configuration for the data conversion. Figure 4.4 illustrate the

proposed application integration changes.

4.1.5 Phase-V Training of the employees

Training the employees of the acquired banks to deal with the Fifth Third products: Fifth

Third offers wide variety of products and introducing these products to the employees of

the acquired banks and making it comfortable for them to use these products is not a

small issue. This becomes more complex at the rate fifth Third is acquiring other banks.

So Fifth Third should develop CBTs (Computer based tutorials), Demos using

audiovisual tools, presentations and simulation packages. These technology tools can be

easily replicated and made accessible to the acquired banks within short notices and will

form the cost effective training methods for the employees of the acquired banks.

4.2 Review potential technology

4.2.1 Application Integration

The Applications Integration Changes will use new software technology to provide for a

seamless integration of the data architecture from one application to another. There are

multiple software vendors that offer packaged, or custom-built solutions to application

integration needs. A few of the industry names include: IBM, Generix Connx, Iway

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Software, Transoft TCF Data Adapters, SunGard Middleware, Veriprise, and many

others. The concept behind a data adapter provides for multiple heterogeneous databases

to communicate as if they were one database. The benefit in this approach is that it allows

for an open architecture standard to support the ongoing growth acquisition strategy of

the bank. Another advantage is that any customized code can be reused at another

location when dealing with the same mix of database applications. For example, an

Oracle to DB2 data adapter can be reused at another location with only minimal table

modification.

4.2.2 Network Changes

The technology for the Network Changes would include a combination of LANs, WANs

and network hubs. All local LANs will be networked as Ethernet based secure LANs and

be connected to a regional WAN. Each regional affiliate will be a network HUB that will

connect the LANs and WANs. The regional HUB will host the computing needs of the

affiliate branches. All the affiliate Hubs will connect to the corporate HQ using secure

T3 lines.

4.3 Role of Information Technology as a Change Agent

The existing information technology infrastructure at Fifth Third is relatively robust and

flexible which is one of the primary contingents of its successful growth over the

decades. However, as the family grows at a steady pace, it must continue to evolve and

adapt as it can quickly outgrow old business rules and structures fit only for smaller,

geographically limited organizations. Most changes proposed in this case study are

primarily organizational in nature and by adding only a couple of new technologies to

update and streamline the current infrastructure, Fifth Third’s entire structure will prove

to be considerably more efficient and agile for years to come. The main goals of the

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proposed changes are to redesign the business network and optimize the existing

technology infrastructure to support these and, most importantly, future changes. The

new technology that is proposed to integrate the acquired banks into the Fifth Third

infrastructure is a major factor, which will determine the way employees handle the

acquired companies data. Currently, Fifth Third employees used to process the acquired

banks data as a daily batch feed. With the new integration infrastructure in place, the

acquired bank’s data will be treated the same as the Fifth Thirds data and this will be a

big change for the employees of the Fifth Third. This will completely change the way the

employees of the Fifth third look at the acquired banks. The acquired banks will be the

part of the Fifth third family right from the day the integration process started.

4.3.1 Business Network Redesign

Reichmayr, Alt, and Fleisch (2000) define Business Network Redesign (BNR) as the

analysis and redesign of the entire organizational network to improve both strategic

business concepts and intra-organizational processes, to streamline internal operation

processes, and ultimately to increase customer satisfaction. “Intra-organizational” issues

are emphasized in this context, typically referring to business partners, vendors, etc, and

Fifth Third’s business architecture is largely decentralized and based on an affiliate

structure, which currently fits into the realm of an intra-organizational structure. Changes

to the business network proposed in this study can be placed into three categories:

organizational restructuring, consolidation of services, and network integration

improvements. Both the restructuring and consolidation could rely on the existing

technology as it is a relatively open system, but the improvements will add considerable

efficiency, better organization and smoother management as the Fifth Third family

continues its remarkable growth.

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4.3.2 Organizational Restructuring

The reorganization of affiliates and branches from state divisions to regional zones will

allow for improved management across larger portions of the US as Fifth Third expands

outwardly from the Midwest. The proposed changes to the bank network simplify the

system by splitting it down into more manageable chunks of regional zone hubs. These

separate zones would possess more autonomy and flexibility, which would allow them to

assimilate additional banks expeditiously.

4.3.3 Consolidation of Services

The consolidation of some of the Fifth Third services is based on core capabilities,

rather than the existing subsidiary and affiliate structure. Combining retail and

commercial lines of business, MPS with FTPS, and Fifth Third Securities with Fifth

Third Investment Company further simplifies the organizational structure and improves

manageability by reducing the number of channels through which some duplication of

information and effort currently exists. The network integration improvements will

support the consolidation of services and, likewise, the consolidation of services will

help to improve the network integration.

4.4 Estimate of Costs and Benefits

4.4.1 Network Costs

Proposed changes to the network elements are priced on a piecemeal basis, as further

analysis is required to determine the exact number of installations or upgrades that will be

required to properly outfit the network. The following outlines a cost estimate of each

typical system:

5/6/2003 23 of 31


Network Element Individual Components

Estimated Unit Price

Number of Elements Price

Ethernet LAN (New Installation) Network Server $3,000.00 1 $3,000.00

Server OS & other software $500.00 1 $500.00

HUB for a LAN $750.00 1 $750.00 LAN Cabling $500.00 1 $500.00 NICs $50.00 5 $250.00 Desktop Terminals $1,500.00 10 $15,000.00 Printer $1,500.00 1 $1,500.00 Software $1,000.00 1 $1,000.00 Total $22,500.00 Ethernet LAN (Upgrade)

Server OS & other software $500.00 1 $500.00

HUB for a LAN $750.00 1 $750.00 Software $1,000.00 1 $1,000.00 Terminal Upgrade $2,000.00 1 $2,000.00 Total $4,250.00 HUB (New Installation) Routers,

Switches, Network

$12,000.00 to $22,000.00

Servers, Storage, Modems $18,000.00 to

$32,000.00 T1 Lease $1,000.00 Per month/per line T3 Lease $5,000.00 Per month/per line SDSL $400.00 Per month/per line

Optional configurations

VPN $1,000.00 Per month/per line

$20,000.00 (Est. per year)

Total Each $50,000.00 to $75,000.00

4.4.1.1 Immediate Network costs (One time)

• New Implementation of a proposed affiliate hub = ~$ 40,000/- o Total one time cost for setting up 7 hubs = 7 * $40,000 = ~$280,000/-

• Cost of each branch LAN upgrade = ~$4,500/- o One time cost for upgrading 100 branches = 100 * 4,500 = ~$450,000/-

• Cost of Manpower for upgrades = ~$100,000/- • One time investment on network Upgrades = ~830,000 + 20% variance

o Total One time investment for network upgrades = ~$1.0 Million

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4.4.1.2 Recurring costs

• Cost of Leased lines = ~$20,000/- per hub o Total leased line costs = 7 * $20,000 = ~$140,000/-

• License cost of the integration adaptors (IBM MQ Series Integrator + in-house customization for adaptors) = ~$25,000/- per CPU per year (requires 2 4-CPU machines to run this software)

o Total license cost for integration adaptors = 2 * 4 * $25,000 = $200,000/- • Total recurring charges = ~$350,000/- per year

4.4.1.3 Cost of Integration of acquired banks

• Cost of new network installations @ $20,000/- per acquired branch • Cost of network upgrades @ $4,500/- per acquired branch. • Cost of Manpower for each acquired branch @ 3000/- per acquired branch

o Total integration related acquisition costs ~$7,500/- for a branch which has a LAN ~23,000/- for a branch which does not have a LAN

4.4.2 Organizational Costs

Organizational elements include the redrafting and dissemination of organizational charts

and plans, corporate by-laws and charters, policies, contracts, and related documents.

Most of these changes will be performed in-house in the Fifth Third legal department

along with outside counsel already on retainer. Additional costs beyond standard labor

costs, legal fees, and materials of regular operation are estimated to be approximately

$48,000.00; two affiliate merges at $15,000.00 each and rezoning the bank and affiliate

network at $18,000.00.

4.5 Benefits

The Business Network Redesign of Fifth Third Bank, its affiliates and subsidiaries, is

designed to provide several benefits. Tangible, or measurable, financial gains include cost

savings through a reduction in labor costs through the consolidation of services and

additional revenue from faster acquisition phase-ins and service “uptime”. These gains

can be measured on a dollar-to-dollar comparison with historical figures. Intangible

5/6/2003 25 of 31


benefits, ones not so easily measured by exact figures, are based on the simplification of

the business network, which will allow more efficient management of growth well into

the future. Overall, the proposed changes wholly support Fifth Third’s aggressive growth

strategy.

5 Implementation Plan

5.1 Behavioral Implications

The Business Network Redesign aligns Fifth Third Bank’s aggressive growth strategy

with its organizational and network structure. The proposed changes in this study

optimize operational efficiencies by increasing organizational simplicity and flexibility.

The overall impact will include increase in growth, manageability, and competitiveness

while requiring minimal training.

5.1.1 Promotes Growth

The reduction of channels through which information and costs are funneled through and

the breakdown of the geographical dispersion into manageable zones allow each regional

zone to enjoy increased autonomy. They each can expand independently and more

efficiently which will directly increase the rate in which Fifth Third can grow,

exponentially if they wish.

5.1.2 Enhances Manageability

As Fifth Third continues to expand, each regional zone will be capable of quickly

integrating new banks independently according to geographic areas. Since each

acquisition goes through a regional zone, the reduction in the hierarchical or centralized

flow of processing simplifies not only the acquisitions, but management as well. Each

5/6/2003 26 of 31


zone will have a similar structure of management, and therefore management coverage

will increase.

5.1.3 Increases Competitiveness

The proposed changes will ultimately increase competitiveness in an increasingly

competitive industry. The business network redesign will reduce costs, increase

efficiency, improve organization, and support significant and long-term growth; which

are the primary components of maintaining competitiveness: current efficiency and future

adaptability. The Business Network Redesign will allow Fifth Third Bank to retain its

competitive edge for years to come.

5.1.4 Minimal Training

Highfield, Rekapalli, and Moxford have developed this proposal to provide maximum

effectiveness from a Business Network Redesign with minimal training for managers and

employees. Although some initial training will be required to quickly transition changes

in organizational structure and procedures, no lengthy, in-depth training programs will be

necessary to get personnel up and running.

5.2 Managerial Implications

Redefining the existing constructs and processes of Fifth Third Bank provides both an

opportunity, and challenge for the management structure. There are 3 related categories

that have managerial impacts to the business integration.

5.2.1 Organizational Restructuring

The majority of the proposed changes are organizational that combined existing

technologies, and new IT technology to support future acquisition and growth. The new

regional zone hub structure will require some changes to the management reporting 5/6/2003 27 of 31


chains. It is recommended that managers stay aware of the reporting structure changes,

and communicate to employees as they occur. The changes may also necessitate the

added or decreased responsibilities from one bank location to another.

5.2.2 Consolidation of Services

The consolidation of overlapping commercial lines of business further simplifies the

organizational structure. Application changes will be forthcoming to define new

procedural processes within a specific line of service. It is recommended that managers

adopt the new procedures as quickly as possible, and communicate the changes to

employees within the responsible areas. Minimal training will be required for both

managers and staff on the new procedures.

5.2.3 Network Integration Improvements

The organizational integration will require physical network changes, and the addition of

new IT hardware in some locations. This may require facility modifications to electrical

wiring, and cabling. It may also require building access after normal business hours for

installation. It is recommended that managers communicate the changes to employees in

the functional areas. It will also require the coordination of changes between internal, and

external security for work occurring after hours.

Professional project management planning will be followed throughout the project. A

formal project plan will be created to track the cost, scope, time, and quality. The plan

will incorporate a change management process that will communicate changes to all

stakeholders and the project team. Change meetings will occur on a weekly basis for

managerial planning, and will be followed by weekly status reports of the project

progress.

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5.3 Conclusions and Recommendations

It is evident from the operating structure of the Fifth Third bank that they have a healthy

business model backed by robust IT infrastructure. However their business strategy of

“growth through acquisition” is not backed by the appropriate “IT infrastructure”. There

is no evidence that the Fifth Third had spent considerable efforts in aligning both of these

essential elements. The current strategy of integration is to replace the infrastructure of

the acquired bank with the Fifth Third Bancorp’s. While the acquisition is in transition a

daily feed of the customer data from the acquired bank is sent to Fifth Third’s corporate

HQ. Typically the transition of the infrastructure is a time consuming process and while

this transition is in progress, the acquired banks could not provide full line of services

that the Fifth Third offer to their customers. Fifth third has a solid organization structure

supporting the business model. However, with the rate at which the corporation is

growing, the current organization structure and the business model will be difficult to

manage. There will be too many affiliate structures with the current business model and

each and every bank they acquire, Fifth Third will be creating more and more affiliates

and these growing numbers will be difficult to manage. This is the same case with the

business models too. There are too many business subsidiaries and the numbers are still

growing.

Hence Fifth Third management should pay good attention towards investing and aligning

the IT infrastructure in line with the business strategy. Otherwise, there is a possibility

that the bank will loose its competitive advantage that it has acquired through

acquisitions. The faster Fifth Third is able to integrate these banks into their

infrastructure, the better they will provide their services to the customer. Fifth Third

should also focus towards their business models and the organization structure to make

5/6/2003 29 of 31


them more manageable. With the current practice of formulating the business strategy at

the corporate level, there is a specific need for the organization structure to be more

manageable. This will provide the required flexibility for the management to change the

organization structure in accordance with the business strategy.

Fifth Third should also look at improving some of their products to provide better

services to customers. Though they have a robust back-end processing infrastructure,

their front-end infrastructure is not very cutting-edge in terms of the latest technologies

available. This can be visible in the online services that they provide to their customers.

Providing a better front-end and the better web interface to the Fifth Third products and

services will provide a better customer satisfaction. Fifth Third should also focus

towards the security aspects in the IT infrastructure. Expanding the network capabilities

and opening the web interface to the system means opening a channel for the outside

world (may be hackers) for entry into the network and Fifth Third should make sure that

there will not be any security loop holes and ascertain the customer confidence in its

infrastructure. Investing in good IT infrastructure in line with the existing strategy of

“expansion thru acquisition”, coupled by re-structuring the organization structure to

support the expansion needs of the organization, will put the Fifth Third BanCorp in a

superior position over its competitors and will enable the corporation to expand into

newer markets and will influence the bottom-line in a positive direction.

6 References

• Masco Corporation Chooses Fifth Third Bank Processing Solutions. Retrieved March 2003 from http://www.finanznachrichten.de/nachrichten/artikel-1761845.asp

• Fifth Third Corporate Banking Home Page. Retrieved March 2003 from http://www.fifththirdbank.com/corporate/home/about_us.asp

• Solomon Smith Barney, Refining the Business Model, Operating a Larger Growth Story. Retrieved April 2003 from http://www.53.com/investor/analyst_present.pdf

5/6/2003 30 of 31

http://www.finanznachrichten.de/nachrichten/artikel-1761845.asp

http://www.finanznachrichten.de/nachrichten/artikel-1761845.asp

http://www.fifththirdbank.com/corporate/home/about_us.asp

http://www.53.com/investor/analyst_present.pdf


• Fifth Third Home Page. Retrieved March 2003 from http://www.53.com/ • RBC Capital Markets. Retrieved April 2003 from

https://www.rbccmresearch.com/drw1.0.4/pdf/0,,37295,00.pdf • U.S. Securities and Exchange Commission. Retrieved April 2003 from

http://www.sec.gov/ • NASD Home Page. Retrieved April 2003 from http://www.nasdr.com/ • FDIC Home Page. Retrieved April 2003 from http://www.fdic.gov/ • FFEIC Home Page. Retrieved April 2003 from http://www.ffiec.gov/ • DEMOS Solutions. Retrieved April 2003 from http://www.staffsmart.com/ • Highfield, Myron 2003. Personal telephone interview with Mike Powers. Fifth

Third Bank Corporate Network Operations Manager. April 4. • Hard core capitalism -Engen, John USBanker, v.112, n.12, (Dec 2002), p.48

ISSN: 0148-8848 • Wall Street's favorite banker - Galarza, Pablo Money, v.31, n.5, (May 2002), p.35

ISSN: 0149-4953 • Fifth Third Selects Fiserv Platform, Dec 10, 2002,

http://www.banktech.com/story/feature/BNK20021210S0014 • Efficiency Leader Turns to StaffSmart(R) for Productivity Improvements,

February 5, 2003, http://biz.yahoo.com/prnews/030205/new017_1.html • 2002 Middleware Survey. Retrieved April 18, 2003,

http://64.33.34.189/research/middleware2002.shtml • BRINT Institute's Book on Knowledge Management (www.kmbook.com),

Malhotra, Yogesh. (1993). Role of Information Technology in Managing Organizational Change and Organizational Interdependence [WWW document]. URL http://www.brint.com/papers/change/

• Swiss Priority Programme for Information and Communications Structures Business Network Redesign: Reorganization of Distributed Processes in Medium-sized and Large Companies, Reichmayr, C., Alt, R., Fleisch, E. (2000) pp 56-58

• Business Network Redesign: Reorganization of Distributed Processes in Medium-sized and Large Companies, Christian Reichmayr, Rainer Alt, Elgar Fleisch (1999) pp 56-58, http://spp-ics.snf.ch/spp_ics/results/r045377_busnetw_SPPICS-proc2000.pdf

• Technology In Services: Rethinking Strategic Focus Quinn, J. Doorey, T, and Paquette, P. Sloan Management Review, Winter 1990

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http://www.53.com/

https://www.rbccmresearch.com/drw1.0.4/pdf/0,,37295,00.pdf

http://www.sec.gov/

http://www.nasdr.com/

http://www.fdic.gov/

http://www.ffiec.gov/

http://www.staffsmart.com/

http://www.banktech.com/story/feature/BNK20021210S0014

http://biz.yahoo.com/prnews/030205/new017_1.html

http://64.33.34.189/research/middleware2002.shtml

http://www.kmbook.com/

http://www.brint.com/papers/change/

http://spp-ics.snf.ch/spp_ics/results/r045377_busnetw_SPPICS-proc2000.pdf

http://spp-ics.snf.ch/spp_ics/results/r045377_busnetw_SPPICS-proc2000.pdf

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