IBS Journal November 2015
Backchat The latest industry gossip
Nordea, one of the largest Nordic financial services groups, is busy on many fronts. Not only has it embarked on a major core banking software overhaul (one of the largest in Europe, post financial crisis) but it is also investing heavily in a new centralised payments hub. The hub will be underpinned by the Open Payments Framework (OPF) platform
from Belgian vendor Clear2Pay (acquired by FIS last year). Go-live is anticipated at the start of 2016, IBS understands. According to the vendor,
the project is ‘still in the early stages’. From ‘early stages’ in September to the go-live at the beginning of 2016 – no time
to waste then! On the core banking software side, the bank is working with Accenture to replace
its legacy solutions with Temenos’ T24 platform. Among the systems for the scrapheap are Misys’ Midas and Tieto’s Core Banking Suite.
Nepal Bank Limited (NBL) is understood to be going back to market for a new core system, following the lack of bids for its earlier tender. The bank has been in system selection mode since last year, starting with an expression of interest (EOI) and moving to a request for proposal (RFP) stage by spring/summer this year. IBS Journal understands that of the three shortlisted vendors – Temenos, ERI and
Infosys – only one vendor (Infosys) submitted its proposal. Temenos and ERI declined to bid, according to a source on the ground, due to concerns over commercial terms. According to the Nepalese regulations, as there was just one bidder NBL has to issue a new call for bids. The bank is looking to do this soon (with revised commercial terms), it is understood. NBL is looking to replace its legacy solution, Pumori Plus, supplied by a domestic
vendor, Mercantile Communications. Meanwhile, a group of banks in Nepal is joining forces in their core system renova-
tion efforts. IBS Journal understands that four banks – Temenos’ T24 users among them – have been talking to Infosys about its Finacle core offering. According to the source, the vendor has made an attractive commercial proposition for the banks to move jointly to Finacle from their legacy cores. It is believed that Sunrise Bank (a T24 user) and Lumbini Bank (which runs Bankmill offering from regional player Mindmill Software Limited) are among this group.
People’s Bank of Zanzibar (PBZ), a government-owned bank in Tanzania, has closed its RFP for a new core banking system. The bank announced its core software search in early spring this year. An RFP was
issued in July. It is understood that the shortlist consists of international providers, including ERI with its Olympic core banking system. PBZ was established in the 1960s and today has a 50% market share in Tanzania. It has total assets of around $143 million and employs 230+ people. It provides
retail and business banking services. It also has an Islamic banking subsidiary, PBZ Islamic Bank.
IN THE NEXT ISSUE
What a year it’s been: IBS Journal sums up the highs and the lows of 2015 as the year draws to a close.
US Financial Services Technology Market Report
This report considers the drivers for change in the US market and US channel trends. It then looks at the make-up of the US financial services industry and the systems that support it, including the established domestic suppliers, would-be domestic newcomers and relevant inter- national suppliers.
Who should read this report • Banks operating in the US that want to gain an understanding of the current market and the new technologies available
• Domestic US system suppliers wanting to identify market opportunities and review competitors
• International financial services system suppliers looking to expand or enter the large, complex and localized US market
• Consultants, analysts and researchers in need of high quality primary data.
Suppliers included: • Accenture • Corelation • CSC • Computer Services Inc. • D+H Corporation • FIS • Fiserv • IBT• Infosys • Jack Henry • Oracle FSS • SAP • TCS Financial Solutions • Temenos • VSoft
Interested? Visit
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