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IBS Journal October 2015


WHO? Enat Bank WHAT? Oracle FSS’s Flexcube core banking system


Ethiopia-based Enat Bank is in the final stages of piloting Oracle’s Flexcube core banking system. The system was bought


for ETB 15 million ($719,000) after a troubled and lengthy bidding period. Back in August 2014, it


was reported that Enat had narrowed its search for a new core banking system to three hopefuls – Infrasoft Technol- ogies with OmniEnterprise, Intellect Design Arena (Pola- ris at the time) with Intellect, and Neptune Software with Rubikon. This followed an earlier


tender in 2012, which ended with the selection of Infrasoft Technologies and its OmniEn- terprise offering. However, this deal subsequently fell through. The latest decision comes after Ethi-


opia’s central bank gave Enat a 30 June 2015 deadline to procure a core system.


Addis Ababa, Ethiopia © Mattias Kiel Nielsen, Wikipedia


were the only ones to qualify in the technical evaluation. Birtukan Geberegzi, oper-


ations vice-president at Enat Bank, has attributed the delays in the implementation to the start-up nature of the enter- prise. It opened for business in March 2013 with a capital of ETB 111 million ($5.3 million). Enat requested the National Bank of Ethiopia to give it one year for the finalisation of the core bank- ing solution. The channels will be targeted


in the next phase. Ermias Andarge, vice-president of corporate services at Enat Bank, says: ‘All e-banking services including the mobile, agent and internet banking will be started after the implementation of the core bank- ing system.’ The bank has eleven branches


Enat bought Flexcube out of seven


bidding companies, including Temenos with its T24 offering and the aforemen- tioned Infrasoft. Enat says these three


and 15,000 account holders. It currently has ETB 400 million ($19.2 million) paid up capital with 11,000 shareholders. Antony Peyton


WHO? Intrust Bank WHAT? Surecomp’s Allnett and IBSnet trade finance solutions


US-based Intrust Bank has licensed two Surecomp products for its end-to-end trade finance solution. Intrust is implementing the web-based


Java J2E enterprise platform Allnett, Surec- omp’s front-end solution for banks and their corporate clients. This will interface to IBSnet – Surecomp’s Windows-based back-office trade finance solution. The bank is a long-standing user of IBSnet and is upgrading it to the latest version. Dan Watkins, Surecomp vice-president,


North America, says the project is set for completion by the end of this year. Intrust has been working with Surec-


omp for over a decade and Dina Aaby, Intrust’s international banking manag- er, says: ‘We have had another vendor


34


approach us but do not feel the need to make any changes at this time as we are satisfied with Surecomp.’ Aaby adds: ‘We made onsite visits to a


couple of other regional banks who were using Surecomp’s IBSnet and were confi- dent it would meet our needs. Ten years later we made the decision to add the front-end Allnettt to complement our back office IBSnet.’ IBSNet’s American clients include


Amegy Bank of Texas (a subsidiary of Zions Bancorporation), PacWest Bancorp, Pacific Western Bank and Société Générale. Surecomp’s software will integrate with


the bank’s GL, demand deposit account (DDA) and lending solutions, plus Swift. For Intrust’s credit card processing,


© IBS Intelligence 2015 www.ibsintelligence.com


loyalty, merchant processing, and fraud detection and prevention solutions it uses FIS systems; and has also been a long-standing user of FIS’s IBS core system. Earlier this year, Intrust extend- ed its long-term relationship with FIS through the addition of trust operations outsourcing and wealth management technology. Privately-owned Intrust was original-


ly chartered as the Farmers & Merchants Bank in 1876, and later known as the First National Bank in Wichita. It has assets of $4.3 billion and over 800 employees. It operates 46 branches in Wichita, northeast Kansas, the Oklahoma City area, and north- west Arkansas.


Antony Peyton


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