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IBS Journal February 2016


in this issue News


New P2P mobile payments network to launch in Hong Kong Swift to return €32 million to its users worldwide


Abu Dhabi Commercial Bank revamps wealth management ops United Mortgage Bank in technology and brand overhaul Avaloq’s BPO Centre migrates fi ve banks to Avaloq Banking Suite Co-op Money NZ opts for Oracle FSS’s Flexcube core banking system Bawag PSK bank launches fi rst Islamic current account in Austria


1 1 6 6 7 7 8


Temenos delivers new core system to DNB Luxembourg on time and budget 8 India Post Bank to open doors in March 2017 with Infosys Finacle Intellect Design Arena grows customer base for lending software Swift gives go-ahead for Iranian banks to reconnect Japanese banks plan new cross-border payments system


‘Global fi rst’ as Earthport launches Distributed Ledger Hub for payments Programbank rebrands core software; signs new takers


China Bank Savings and Planters Development Bank to unify on Finacle


10 10 11 11 12 12 14


Optiver implements Torstone Technology’s Inferno sub-ledger platform 14 Nordea Bank Luxembourg live with Temenos’ Wealthsuite Nasdaq starts ‘revolution’ with fi rst blockchain-based transaction Digital Asset Holdings gains $50m in funding round


15 15 16


Three Canadian credit unions ditch Acumen for DNA core banking system 16 Housing & Development Bank in Egypt opts for OneSumX Markit buys DTCC’s LoanServ; ties up with Fenergo Bank of England to revamp UK payments system


National Bank of Tajikistan to modernise core banking system New core banking system for Banque Travelex SA


17 17 18 19 19


Fareed Hosain, CIO, Habib Bank 38


Chairman, Cedar Sanjiv Anand Email: sanjiva@ibsintelligence.com


Senior Editor Tanya Andreasyan Tel: +44 7803 470 284 Email: tanya@ibsintelligence.com


Senior Reporter Antony Peyton Tel: +44 7999 777 356 Email: antonyp@ibsintelligence.com


Junior Reporter Alex Hamilton Tel: +44 7555 518 679 Email: alexanderh@ibsintelligence.com


Digital banking solutions


Round-up: The latest digital banking initiatives from around the world Analysis: Getting your bank digital ready


Case study: Habib Bank revamps digital banking for corporates


26 34 38


Advertising Sales Manager Angus Chapman Tel: +44 7958 691 538 Email: angusc@ibsintelligence.com


Marketing Manager Abhijit Chakravarty Tel: +91 7718 868 804 Email: abhijitc@ibsintelligence.com


Graphic Designer Pooja Bhatia Tel: +91 9920 151 037 Email: poojab@ibsintelligence.com


Case study: Core banking migration Paratus AMC migrates mortgage portfolio – lessons learnt


Editor’s Note: The musings of Tanya Andreasyan Recent Orders: A round-up of who’s bought what Appointments: On the move


Diary of Events: Upcoming conferences worldwide Backchat: The latest gossip from the industry


© IBS Intelligence 2016


Sales Administrator Sandra Carr Tel: +44 7548 848 585 Email: sandrac@ibsintelligence.com


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20 44 46 46


IBS Intelligence A Division of Cedar Management Consulting International, LLC Tel: +44 2075 202 630 Email: info@ibsintelligence.com UK/Europe Lenta Business Centre Suite 109 180-186 Kings Cross Road London WC1X 9DE UK


www.ibsintelligence.com


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