IBS Journal February 2016


National Bank of Tajikistan to modernise core banking system


Dushanbe, Tajikistan © VargaA, Wikimedia


assist it in developing legal, regulatory, su- pervisory, operational and IT frameworks. NBT’s ongoing broad modernisation


initiative is conducted under the auspices of The World Bank.


The big loan In 2013, NBT went to market to find a vendor/system to build a new Automated Transfer System (ATS) and Central Securi- ties Depository (CSD) platform, to modern- ise the country’s market infrastructure. The project was supported by a grant


National Bank of Tajikistan (NBT) is looking to modernise its core banking system and has just closed the first step of the bidding process. NBT, which acts as the nation’s central


bank and regulator, has asked consultants to help it kick start the selection process, including customisation and localisation assistance. The successful candidate will assist NBT in creating the RFP document to send out to core banking software vendors. The bank was a long-standing user of


the RS-Bank core banking system from Rus- sia-based vendor, R-Style Softlab. The bank was using a heavily customised version of the system.


In 2012, however, it selected a new


core banking system, CFT-Bank, supplied by another Russian vendor CFT. The new solution was set to replace the legacy RS- Bank product. With this latest RFP on the agenda, it seems the CFT-Bank implementation did not go to plan. Also this month, the bank issued


two separate requests for expressions of interest.


One was for a local IT consultant


to support it in implementation of the National Processing Centre for Remittances (NPCR); while the other was for a banking supervision and regulation consultant to


from The World Bank (like many projects for state banks and companies in this region). However, this selection did not conclude. In 2014, NBT issued another RFP for the same thing. The World Bank provided a $10 million


loan for this project and according to its website the loan will be used ‘toward the cost of the Private Sector Competitive- ness Project [i.e. replacing NBT’s existing real-time gross settlement system with an ATS and CSD], and it intends to apply part of the proceeds to payments for consulting services’.


On the payments side the bank is


using the TranzWare suite from a UK-based specialist vendor with Russian roots, Compass Plus.


Antony Peyton New core banking system for Banque Travelex SA


Paris-based Banque Travelex SA is imple- menting Profile Software’s FMS.next core banking system. The Profile system was chosen to pro-


vide the spine to a range of multicurrency online banking services. It will support the bank’s core operations, which is money transfers and payments. The contract was signed in 2015. Banque Travelex SA, a subsidiary of


Travelex Holdings, provides money transfer and exchange services to customers in- branch and online.


The FMS.next system is the result of a


three-year revamp of the Greek vendor’s existing FMS (formerly Spectrum) solution, begun in 2010. It is based on the .Net framework and is available as a desktop application or via a web browser. It can also provide services via mobile devices. Talking to IBS Intelligence about FMS.


next’s inception, Michael Bakouris, COO of Profile at the time, said that the aim was to create the system ‘that can be easily deployed over the web and on the private or public cloud’. He also noted that banks


© IBS Intelligence 2016


are keen ‘to get closer to their clients by utilising new delivery channels, namely interactive web and mobile services’. FMS.next and its predecessor, FMS,


have around ten users. These include Mercedes Bank in Greece and Poland, Credins Bank in Albania and BNP Paribas in Greece. A more recent taker is a real-estate


crowdfunding firm Elevate Capital – the first UK customer for Profile.


Alex Hamilton


www.ibsintelligence.com


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