IBS Journal November 2015


EBA Clearing launches RFP for pan-European instant payment infrastructure


EBA Clearing, the bank-owned provider of several key payments infrastructures in Europe, has launched a request for proposal (RFP) for a technical solution provider capable of implementing and running a pan-European instant payment infrastructure solution. The RFP is the next phase in its offering of a pan-Euro- pean infrastructure service for instant payments to payment service providers by 2018. Back in March 2015 it was reported that it had laid out a roadmap to evaluate potential instant payments solutions.


The start of the RFP phase follows the


publication of a ‘Blueprint for an Instant Payment Infrastructure Solution’ which was issued on 1st July 2015 (based on the input of the taskforce) and subject to consultations with potential service users and stakeholders during the third quar- ter of 2015. EBA Clearing says the operator of the


euro payment systems EURO1 and STEP2 has kicked off the search and Erkki Pou- tiainen, chairman of EBA Clearing, adds that the search should be completed by the end of this year and says the devel-


opment of the solution should be com- pleted by the end of 2016. A pilot phase should follow in 2017. EBA Clearing says the future infra-


structure solution will be geared at han- dling any euro transactions that are in line with the instant payment definition and requirements formulated by the Euro Retail Payments Board (ERPB) in late 2014, and should thus be able to support any real-time payment products that pay- ment service providers in Europe may decide to offer to their customers. Antony Peyton


Bank of Ceylon goes live with Infosys’ Finacle


Bank of Ceylon (BoC), a large govern- ment-owned bank in Sri Lanka, has gone live with a new treasury system, Finacle from Infosys. The version deployed is 11.2.1. The project was carried out with the


help of Infosys’ local partner, MillenniumIT (MIT). The deal was signed in Q2 last year. Finacle Treasury supports FX, repo and


reverse repo transactions at BoC, as well as the operations with LKR denominated gov- ernment securities, such as treasury bills and bonds.


Infosys’ partner in Sri Lanka Colombo-based MIT – owned by the London Stock Exchange Group (LSEG) – provides integration services to a number of international core software vendors, including Infosys and Intellect Design Arena/Polaris. For the latter, MIT implemented the Intellect core system at Sri Lanka’s Regional Development Bank and Citizens Development Business Finance (CDB). MIT’s main specialisation, however,


is trading software. Its own trading plat- form is used by LSEG as well as a host


of stock exchanges and trading venues worldwide. Customers include: • Tullett Prebon, one of the world’s larg- est inter-dealer brokers,


• Aequitas NEO Exchange in Canada, • Delhi Stock Exchange in India, • Johannesburg Stock Exchange (JSE) in South Africa,


• Bolsa & Mercados Argentinos (BM&A) in Argentina,


• Bolsa de Valores de Lima (BVL) in Peru, • Casablanca Stock Exchange (CSE) in Morocco.


Tanya Andreasyan


CIBC embarks on digital transformation to save $600m over three years


Canadian Imperial Bank of Commerce (CIBC) is turning to digital solutions in a bid to cut more than $600 million in costs over the next three years. The bank is forecasting a 29% rise in


annual profit, from $2.70 billion to $3.79 billion, since 2014. It’s not resting on its lau- rels though, and plans to open up techno- logical channels in order to keep it ahead of the game. CIBC is investing in an online platform


based around customer self-service. The bank will be pumping around $70 million


a year into a project that will see it create ‘digital zones’ in its 1,100-strong branch network. The new zones, it reckons, will enable staff to focus on sales and advice. Another part of CIBC’s transformation


involves shifting 15% of its total sales to digital channels, an increase of 11% when compared to its current stats. The bank is looking at getting more of its custom- ers online, too, with an ambitious target of having 70% of its clients using digital services. Despite the savings target, the bank


© IBS Intelligence 2015


insists the changes are about custom- er experience and interaction and aren’t about slashing losses. Flourishing in a mar- ket that is beginning to fill with challengers and start-ups is also a concern. CEO at CIBC, Victor Dodig, says that the bank has a plan ‘to compete effective- ly against incumbent banks here in our own marketplace.’ CIBC also has a plan, he adds, to compete with ‘the disruptors that will play a role in the [future] financial eco- system.’


Alex Hamilton www.ibsintelligence.com 7


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