IBS Journal February 2016


China Bank Savings and Planters Development Bank to unify on Infosys Finacle core platform


Philippines-based China Banking Corpora- tion (China Bank) is merging its two thrift banking subsidiaries, China Bank Savings (CBS) and Planters Development Bank. The unified entity – focused on the retail and SME sectors – will become the fourth largest thrift bank in the Philippines. The regulators have approved the


merger. The CBS brand will be retained. China Bank’s president, Ricardo Chua,


expects CBS to ‘go full blast in 2016’. The combined entity will have assets of over $1.5 billion, a loan portfolio of around $1 billion and a deposit portfolio of $1.3 bil- lion. It will have a network of 165 branches and 1,800 people on its payroll. China Bank had a busy year, including the launch of a new investment banking


subsidiary (China Capital) and the introduc- tion of the Mastercard credit card. On the technology front, the bank


embarked on the treasury and capital mar- kets software renovation (replacing Misys with Calypso) and persevered with its core banking system roll-out (Infosys’ Finacle). It is expected that Planters Develop-


ment Bank, once merged into CBS, will be moved onto the new solutions as well. Planters Development Bank is a long-standing user of Fiserv’s Signature core banking system. In 2011, it selected 3i Infotech’s Kastle Universal Lending for its lending operations and Sungard’s Ambit Treasury Management/Quantum for its treasury and capital markets ops. Tanya Andreasyan


In brief


Frankfurt, Germany © Thomas Wolf, Wikimedia


Isbank AG, the European arm of Turkish bank Türkiye Is Bankasi, has gone live with Surecomp’s DOKA 5 trade finance system. Frankfurt-based Isbank says it


Optiver implements Torstone Technology’s Inferno sub-ledger platform


Electronic markets firm Optiver has started a multi-year deployment contract with Tor- stone Technology with the latter’s Inferno sub-ledger (SL) system. The implementation comes on the


heels of a successful pilot project, begun in October 2015. One of the key tests during the pilot was whether Inferno SL could meet ‘high-level performance require- ments’. According to Torstone, the system processed more than one million trades per hour during testing. Inferno SL will be deployed to support


Optiver’s European business, based in Amsterdam. Torstone Technology, a relative


newcomer to the market, launched in 2011 following the shedding of businesses at KBC Bank. The management of the Inferno system within the bank proposed to buy the technology from KBC and became a standalone software firm in July of that year.


Inferno SL is a component of the 14 © IBS Intelligence 2016 www.ibsintelligence.com


Inferno back office system. Torstone has another customer in the


form of Panmure Gordon, an institutional stockbroker and investment bank. The firm has also teamed up with


Daiwa Institute of Research to build a front- to-back office solution for the securities industry in Myanmar.


Alex Hamilton


Amsterdam, Netherlands © Lies thru a lens, Wikimedia


required a system that could interface with its new core banking system, Avaloq Banking Suite. The new trade finance software will replace a largely manual set-up at Isbank. Uzay Ersin, corporate operations


manager at Isbank, says DOKA 5 ‘sim- plifies the administrative workload, optimises processes, and saves time and money for both Isbank and our corporate clients’. The go-live follows on from the


April 2015 development, when IBS Intelligence reported that Surecomp had gone on the record about the Isbank deal. The selection process was a


protracted one, with a couple of stops and starts along the way, IBS Journal understands. Surecomp competed with Swit-


zerland-based Micro Informatique & Technologies (MIT) for the deal. It is understood that Misys’ offer-


ing, Fusionbanking Trade Innovation, was evaluated at an early stage, but did not make it to the final. Specialist vendor Surecomp has a number of trade finance systems in its portfolio. DOKA originates from Germany. It was developed by a domestic vendor, Dialog Orienterte Software (DOS), which was acquired by Surecomp in 2010.


Antony Peyton


news


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