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JULY–AUGUST 2015/ISSUE 24.10


GLOBAL INDEPENDENT PERSPECTIVE ON FINANCIAL TECHNOLOGY


SAP signs to resell Calypso’s treasury & capital markets system Can SAP take Calypso to new markets or will this partnership fall flat like others before it?


SAP has signed a partnership with Calypso under which it will resell the latter’s treasury and capital markets (TCM) system. There will be two versions: SAP Capital Markets Trading and SAP Capital Markets Treasury. The agreement is for at least three years and comes after around a year and a half of deliberations, during which time SAP also talked to other TCM system suppliers. Charles Marston, chairman and CEO of Calypso,


observes that there is a trend within the banking industry to decrease the amount of suppliers that banks rely on. ‘Having separate relationships with multiple vendors have worked over the years, but


it is a rather expensive way to do things,’ he says. ‘This partnership allows SAP and Calypso to com- bine their offerings and integrate their products. So from a customer perspective, they do not have to maintain two separate infrastructures. They will see the two vendors as one, and they will come to SAP for all their Calypso-related requirements, drawing efficiencies from this set-up.’ There will be a ‘tighter integration’ between the systems, he adds. ‘Customers desire more comprehensive solu- tions these days, and partnerships are a way to


...continued on page 14


Misys and Deloitte gain new Fusionbanking customer CTT Correios de Portugal to invest €20 million in a new postal bank


CTT Correios de Portugal, the country’s postal service, has embarked on setting up a postal bank and has selected technology to underpin it. The winning solution is Fusionbanking Essence core banking system, supplied by Misys. It will be deliv- ered by Misys’ implementation partner, Deloitte. CTT officially unveiled its plans to set up Post- al Bank last autumn, following the approval by its board. However, the idea of such a bank has been in the pipeline for much longer, since before CTT’s privatisation in late 2013. Around that time, it sought authorisation from the country’s central bank, Banco de Portugal, to launch banking servic- es, should the shareholders approve the idea. The CTT Group was first floated by the Portu-


guese government in December 2013, as it was seeking to dispose of a 70 per cent stake in the


company. The sale of the remaining shares was completed by September 2014. The state made a total of €909.2 million from the sale. It is understood that CTT has allocated €20


million to the project of setting up the bank, including brand development and technolo- gy. This investment made the company’s capex almost quadruple to €5.2 million in Q1 2015, according to the investment banking arm of Mil- lennium BCP, one of the country’s largest banks. Meanwhile, Misys and Deloitte’s flagship


Fusionbanking customer, UK-based Student Loans Company (SLC), has been experiencing difficulties with its implementation project, it is understood. These are partly attributed to the scope creep of the project, e.g. Islamic banking functionality that is now being mooted by SLC but not provi-


inside


THE FUTURE FACE OF WEALTH MANAGEMENT?


IBS Journal material may not be reproduced in any form without the written permission of the publisher. © 2015 IBS Intelligence, a division of Cedar Management Consulting International, LLC.


sioned for in the original contract. High turnover of staff and leadership working on this govern- ment-sponsored initiative is also understood to be a contributing factor. Among notable departures is Gordon Simpson, CIO and business transforma- tion director of SLC, leaving last summer, shortly after the decision to implement Misys’ platform was finalised.


SAP HQ, Walldorf


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