IBS Journal December 2015


New core banking system for NSIA Bank


Ivory Coast-based NSIA Bank has chosen Sopra Banking Software’s Amplitude core system to replace Capital Banking Solu- tion’s CapitalBanker (also known as Orion). NSIA Bank (previously BIAO Bank) is mod-


ernising its information system and chose Sopra after a long-running selection process. Philippe Attobra, general manager of


NSIA Bank, says: ‘We have chosen a compa- ny with more than 40 years’ experience and an international leader in the sector to sup- port us in our strategic development.’ The migration project towards Ampli-


tude started this summer and Sopra says it will ‘progressively involve all the different business segments of the bank’. The bank will join others using Ampli- tude in the Ivory Coast. These include


Caisse Nationale des Caisses d’Épargne de Côte d’Ivoire (CNCE), Omnifinance, Société Générale (present in Ivory Coast since the 1960s) and Coris Bank. NSIA Bank operates in 12 countries in


Africa, however this deal with Sopra is only in the Ivory Coast at present. Sopra says the project ‘may be extended [to other coun- tries] but it is not part of the deal’. Antony Peyton


Abidjan, Ivory Coast © Zenman/Marku, Wikipedia


Nutmeg moves back office ops in-house, goes live with new platform from Babel Systems


Online investment firm Nutmeg has gone live with Babel Systems’ processing solutions, bringing its back office operations in-house. The decision to switch from an out-


sourced model was made to gain greater flexibility and efficiency, according to Babel Systems. Its namesake back office offering, it


adds, can support fund, bond and equity trading and has the capacity to handle up to one million trades per day. The new system has now gone live fol-


lowing a six-month implementation period. Babel Systems puts this turnaround time down to its ‘open API and web service capa- bilities’ that aided in a smooth integration with Nutmeg’s existing front office software. Phil Bungey, Nutmeg COO, says that


the new system ‘forms part of the change to our new operating model to accommo- date our growth’. As a result of the implementation, he


adds, the company will be able to drive down costs and provide a better experi- ence to its key customers.


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London, home of Nutmeg © kayture.com


Nutmeg has also recently replaced its


sub-custodian, dropping Pershing Securi- ties for State Street. Pershing had been a provider for Nutmeg since the company’s inception in 2012. According to the firm its substantial growth between 2012 and 2014 necessitated it shifting away from Pershing. The firm’s operations run on virtual


© IBS Intelligence 2015 www.ibsintelligence.com


private clouds and Amazon web servic- es (AWS). In an exclusive interview, CTO William Todd told IBS Journal in 2012 that the approach gives Nutmeg ‘scalability and reliability through automation’ as well as the ‘overall control needed to meet all the regulatory criteria’.


Alex Hamilton


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