IBS Journal September 2015


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Ally Financial is believed to have signed for Temenos’ emerging payments software offering, Temenos Payments Suite (TPS). TPS, a co-development with ABN Amro, originally unveiled in 2012, is finally nearing


its first go-live at ABN Amro’s subsidiary in Germany. No comment was available from Temenos, but it is understood that the ‘top 20 US


domestic bank’ that the vendor mentioned in its latest financial results refers to Ally Financial. Detroit-based Ally Financial, formerly GMAC, is one of the largest financial services pro- viders in the US. It was set up by General Motors back in 1919 to provide auto financing. The company had to be bailed out by the US government in wake of the 2007/8


financial crisis, but it returned to profitability a couple of years later. The US government gradually divested its ownership of GMAC/Ally and eventually sold the remaining shares in December 2014. Ally Financial has a banking subsidiary, Ally Bank, which offers a range of savings


products. It operates as a direct bank. Meanwhile, another reference in the Temenos’ financial results, ‘top 35 domestic


bank signing for Akcelerant products’ is believed to be Comerica. This is one of the larg- est ever deals for Temenos’ US subsidiary. Comerica also has Detroit roots, but is now headquartered in Texas. It offers busi-


ness and retail banking services and also wealth management. As of March 2015, it has $69.3 billion in total assets, $48.2 billion in total loans, and $57 billion in total deposits. Akcelerant is a loan origination and collections software specialist, recently pur-


chased by Temenos for $50 million. It claims 600 customers, mostly in the credit union space, and has 130 staff.


There are whispers on the ground that German banking heavyweight, Commerzbank, is looking to embark on a large-scale IT project with TCS Financial Solutions. According to a source, the bank is looking to utilise the Indian vendor’s Bancs core banking system. Can it succeed where its rival Deutsche Bank failed? In 2010, Deutsche Bank embarked on a major IT project: to standardise its world-


wide operations on the Java-based version of Bancs, running out of two hubs in Europe and Asia. The strategy was subsequently changed to separate installations rather than common hubs. Last year, however, the project was ‘frozen’. TCS explained that the roll- out was no longer a priority for the bank. By that point, Bancs was implemented in three locations – the UAE, Saudi Arabia and the Netherlands – and these sites are understood to continue running Bancs.


More details have emerged on Nedbank’s core system selection. While this top banking play- er in South Africa is yet to reach a decision on its new core banking platform, it is understood to be evaluating a new offering from Oracle FSS, Oracle Banking Platform (OBP), alongside the Flexcube system. Other major vendors are also in the running for this lucrative deal. The project will focus on the domestic operations of the group, currently supported


by a range of legacy solutions, including CSC’s Hogan core system. Oracle FSS’s OBP is positioned for upper tier banks and there are a couple of large


banks in Australia that are currently implementing OBP, namely National Australia Bank (NAB) and Suncorp. There is also a major regional bank in the US, Keybank, that is using a component of OBP as an orchestration layer sitting between the core banking soft- ware and the front-end channels.


IN THE NEXT ISSUE SUPPLEMENT: Banking technology in Asia – who is doing what? 54 © IBS Intelligence 2015 www.ibsintelligence.com


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