IBS Journal December 2015


Investbank replaces Flexcube with BML’s ICBS core system


Sharjah-based Investbank is live with a new core banking system, ICBS, supplied by regional vendor BML Istisharat. The go-live took place on 1st November 2015. The ICBS platform has replaced Oracle


FSS’s Flexcube, which had been running at the bank for around a decade. Investbank first signed with BML in Q1


2013. The deal covered the bank’s green- field subsidiary in Lebanon. The project was completed later that year. It is understood that Flexcube was


evaluated for the Beirut-based subsidiary but lost out to ICBS. Investbank then asked BML to extend the licence to cover the UAE operations.


The ICBS modules acquired for the domestic operations comprise: • Core; • Central (credit facilities, interest calcu- lation, local authorities requirements, reconciliation, consolidation, revalua- tion, statistics and MIS);


• Branch (chequebooks and clearing cheques handling, draft cheques, standing order instructions, bills man- agement, deposits and savings);


• Loans management (commercial, person- al and promissory notes, consumer loans);


• Treasury; • Transfers/remittances; • Import/export bills for collection; • Import/export letters of credit;


Sharjah, UAE © Basil D Soufi, Wikipedia


• Letters of guarantee; • Interfaces (Swift, ATM). Tanya Andreasyan


Marvin Bank goes live with Probanx’s Coreplus system


Banjul, Gambia


Marvin Bank has gone live with Cyprus-based Probanx’s Coreplus core banking system. Probanx says the bank, based in The


Gambia, has started live operations ‘only one month after signing the agreement’. Georg Roider, MD at Probanx, says the


vendor was able to implement Coreplus within a short timeframe because ‘for new banks there is no data migration, which is always time consuming (usually a mini- mum of three months)’. He says Probanx has also preconfig-


ured solutions for some standard banking types – such as commercial banks, credit unions, lending institutions and ‘internet only’ banks; and it provided online user training using video conferencing software. Roider says all this helped ensure a speedy implementation at Marvin Bank. Marvin Bank was founded this year,


and is a private bank registered in The Gambia with representative offices in Palma de Mallorca, Spain. The bank pro- vides online banking with multi-currency accounts.


18 © Ikiwaner, Wikipedia


Probanx offers variants of Coreplus for


microfinance institutions and online bank- ing-only banks. The software uses a .Net platform and SQL server, since a rewrite from 2004 to 2006. Probanx as a company was founded in


2000, having grown out of Bankcom Con- sultants.


© IBS Intelligence 2015 www.ibsintelligence.com


The customer base of Probanx is far-


flung, with 90% of clients abroad. These include microfinance institutions, savings and loan organisations, retail, commer- cial, online and private banks in Sweden, New Zealand, Australia, Laos, Georgia and Nigeria.


Antony Peyton


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