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#912886 - 02/29/08 04:48 PM Core Processor Changing
nutoregs Offline
Member
Joined: May 2006
Posts: 55
I have been searching but with no luck. Does a regulation exist that requires the Bank to notify their Regulator (OCC) that they will be undergoing a system conversion to a new core processor?
Any help is appreciated.

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General Discussion
#913872 - 03/03/08 07:07 PM Re: Core Processor Changing nutoregs
SavannahOne Offline
Diamond Poster
Joined: Sep 2005
Posts: 1,163
Georgia
Unless you are a de-novo or under an agreement of some kind I am doubtful you will find such a requirement. That said, that's something I'm sure your EIC (examiner-in-charge) would really like to know.

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#913956 - 03/03/08 07:58 PM Re: Core Processor Changing SavannahOne
KrisH Offline
Gold Star
KrisH
Joined: Mar 2003
Posts: 358
Massachusetts
Actually, I believe the Bank Service Company Act requires notification regarding certain services that are outsourced. I can't tell from the OP if the new "core processor" is just the application, or actual servicing of accounts.

In any case, the BSCA is here.

And a FIL from the FDIC regarding this is here.

We have filed these forms for our internet banking provider, our ATM network provider, our online mortgage application provider and managed security services (firewall and IDS) provider.
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