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IBS Journal January 2016


Proposals unveiled for pan-European instant money transfers


Despite this the new scheme, says the EPC, will enable the harmonising of payment methods and ‘remove national barriers’. Through the scheme, instant pay-


ments will be available 24x7 through- out the year and will be ‘processed in seconds’. To make the process as cost effi-


cient as possible for the scheme partic- ipants, says the EPC, it will be using the same foundations as the SEPA Credit


Transfer scheme.


Roadmaps and drafts Prior to a three-month public consulta- tion and the scheme’s initial publish date in November 2016, the EPC will now be- gin drafting implementation guidelines and a rulebook for SCT Inst. Discussions with third parties about


clearing and settlement arrangements will also continue in parallel, as faster payments would undoubtedly lead to


...continued from front page


more work for these firms. A roadmap was being laid out for


a new instant payments infrastructure throughout 2015, following an endorse- ment from the European Central Bank in November 2014. This lead to EBA Clearing, the bank-


owned provider of several key payments infrastructures in Europe, to launch a request for proposal over a new instant payment solution.


Alex Hamilton


Temenos adds Tieto to partnership list


Nordics’ largest IT group, Tieto, has joined the list of service partners of banking software vendor Temenos. Tieto will be offering delivery services


for Temenos’ flagship core banking system, T24, as well as auxiliary products, across the Nordic and Baltic regions. In particu- lar, it will specialise in the T24 Model Bank (a preconfigured, ‘out of the box’ version of T24) delivery. ‘We have seen enormous momentum


in the Nordic market,’ comments Steen Jensen, head of Northern Europe at


Temenos. Indeed, the vendor has recently


secured the largest deal in Europe, with Sweden-based Nordea Bank, for a com- plete IT overhaul. The bank put aside €1 bil- lion for the project. There is also a project underway at a


bank in Finland, Aktia, which is running late and over budget. Earlier, Temenos signed with Danske


Bank to replace its proprietary corporate lending software with T24 and standardise operations across the group.


The lucrative Nordics Temenos’ rival, SAP, has also been eyeing the region – last year, it tied up with CGI to bring to market a Software-as-a-Ser- vice (SaaS) core banking offering for the mid-tier Swedish market. The platform is underpinned by SAP’s SAP for Banking system. The hope is to build on the back of a


first live customer for SAP for Banking in Sweden, Landshypotek Bank, which went live in 2013.


Tanya Andreasyan


New core system deal for Intrasoft in Africa


Tanzania-based start-up bank, Mwalimu Commercial Bank (MCB), will implement Intrasoft International’s Profits core bank- ing system. MCB, which plans to open for business


in May 2016, chose Intrasoft having evalu- ated regional and international suppliers. Implementation of the Profit system


will start in February 2016, with the project completion penned for September. MCB’s director of banking and finance, Andreas Diamantea, is confident that the


How to make analytics work? IBS launches IBS Chat


implementation will be done ‘on time, within a specified budget and with the quality desired’.


MCB will launch with a capital base of $1.4 million, built up through the float- ing of shares worth $0.24 each. The bank’s share price rose 40 per cent during its first day’s listing on the Dar es Salaam Stock Exchange. The bank will open two branches in


Tanzania initially, with ambitions to expand across the East African region.


© IBS Intelligence 2016


Profits in Africa Greece-based Intrasoft has been making inroads into the African market with Profits, having secured a number of wins. It has signed four microfinance institu-


tions in Rwanda and a retail bank in Kenya, part of the rush by African banks to mod- ernise their systems. Prior to these initial African wins the Prof-


its system had been largely a local one, with all but a handful of its users based in Greece. Alex Hamilton


IBS Intelligence has launched its IBS Chat Forum, a global platform to bring industry participants together on everything related to banking and financial services technology. Log on to www.ibsintelligence.com/ibschat and connect with peers across the globe now!


www.ibsintelligence.com 11


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