news
IBS Journal October 2015
Sungard sells Ambit core banking software unit to Silverlake Axis
Ambit Core Banking: the story so far Over the years, since the Sungard takeover, the numbers of new sales dwindled and many existing customers left. There are currently around 25 banks
running Symbols/Ambit Core. In the last five years, the vendor managed to onboard just two new clients: Crown Agents in the UK and Central Bank of South Sudan. Banks that have moved off Ambit include Burj Bank in Pakistan that migrat- ed to Path Solutions’ iMAL, Punjab & Sind Bank in India that opted for Infosys’ Finacle, Brac Bank in Bangladesh that also moved to Finacle, and Vietnam International Bank that has replaced Ambit with Diasoft’s Flex- tera core system. MCB Bank in Pakistan is among the
largest users of Ambit and seems to remain committed to the system. Last year it upgraded to version 8.5 as part of its broader technology overhaul. Another long-standing user is Austrian
group Erste Bank, although it is running a heavily customised version of the system and owns the source code.
In early 2013, Sungard announced it
‘realigned’ its banking software business. Around the same time, a number of senior
executives on the Ambit core banking side left the company.
Tanya Andreasyan
...continued from front page
Bank Yahav in major IT revamp
At Yahav, Bancs will support all main business lines, includ- ing current accounts, and account related services, general ledger, loans and deposits, nostro, credit cards, capital markets (front-to-back office) and portfolio advisory services, plus reporting and AML. It will be connect- ed to 80+ entities, including regula- tory systems and the Tel Aviv Stock Exchange (TASE). ‘Hundreds of projects are hap-
pening in parallel, with all the com- plexities of being the first.’ Davidyan’s
advice is: ‘The way to handle such a move is to manage the process cor- rectly – to harness the entire organi- sation to the process, build a dedicat- ed team, build an array of corporate governance, monitor on a daily basis the tasks of each working stream, and avoid external or internal influences which can cause delays.’ A top priority is to manage the
entire venture correctly and to have a strong action plan, he adds. ‘We must be aware of the risks and be able to minimise them.’
...continued from previous page Commitment from the very top of
the organisation throughout is ‘para- mount’.
Close cooperation with the vendor
‘to track the process and create a sup- portive environment’ is in place too. Change management is being
implemented and the benefits of the new system – ‘automated, user-friendly and logical’ – are being highlighted to the employees. Nobody likes change, Davidyan concedes, but he feels that ‘people will be pleasantly surprised’. Tanya Andreasyan
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© IBS Intelligence 2015
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