IBS Journal January 2016


Backchat


The UK banking and financial services market is buzzing with activity, as the sector realises that it has no choice but to modernise.


TCS Financial Solutions has notched another sale of its core banking system, Bancs, in the credit union space, it is understood. This is believed to be London Mutual Credit Union, which has recently started the implementation process. London Mutual offers a range of savings accounts, plus current accounts and loans


(including payday loans). TCS made inroads into the UK’s credit union space four years ago, with its first pro-


ject being at Citysave Credit Union in Birmingham. This was followed by a joint deal with two Scottish entities, Scotwest and Capital Credit Union.


Meanwhile, a UK-based private equity firm, AnaCap Financial Partners, is pondering a new pure-play digital bank (as reported earlier by IBS Journal) and is believed to be evaluating Misys’ and Temenos’ banking software platforms, FusionBanking and T24, respectively. AnaCap already owns a number of banks in mainland Europe and a bank in the UK


(Aldermore Bank). The latter is already a user of T24. It is understood that the new entity has a code name ‘Abacus’.


British Arab Commercial Bank (BACB) is still in system selection mode, and is also looking at T24 as its potential new core banking platform. BACB is a long-standing client of Misys and a user of its Midas system.


Another Misys customer, London-based Persia International Bank, has embarked on a trade finance software revamp. The bank is implementing China Systems’ Eximbills, ac- cording to a source on the ground. On the way out, it is understood, is the Imex system from rival vendor Surecomp, that has been running in the bank for 15 years. Persia International Bank is using Misys’ Bankmaster as its core system (a replace-


ment on the agenda?) but has snubbed Misys’ own trade finance offering, FusionBank- ing Trade Innovation. The bank is owned by two Iranian outfits, Bank Mellat and Bank Tejarat.


A UK subsidiary of Russia’s major banking group, VTB, has embarked on a system selection, it is believed. The official documentation to this end has been sent out, it is understood, with the bank looking for a deposits platform. VTB had to shrink its operations in London recently, due to sanctions. In early 2014, the group embarked on a core banking project to harmonise its oper-


ations across Europe. At the time, it was understood that Temenos got the mandate to roll out its T24 system across VTB’s locations in Austria, France, Germany and the UK. The results of this initiative are yet to transpire.


Arbuthnot Latham, a small UK-based entity focused on private banking and wealth management, has reached a decision on its new core system, IBS Journal understands. According to a source on the ground, Arbuthnot Latham has opted for Oracle FSS’s


Flexcube. As reported earlier by IBS Journal, the bank has been in system selection mode for near-


ly a year, searching for a replacement of its legacy Bankmaster system supplied by Misys. Temenos with its T24 offering and ERI with Olympic were also in the running for this


deal. In the next issue


Digital Banking Software & Solutions – the latest and the greatest, plus the embarrassing IT outages


42 © IBS Intelligence 2016 www.ibsintelligence.com


diary February


09-10: FinovateEurope 2016, London www.europe2016.finovate.com


March


15: TSAM Europe, London www.tsam.net/europe


22-23: MEFTECH, Abu Dhabi www.meftech.ae


April


4-7: Money 20/20 Europe, Copenhagen www.money2020europe.com


12-13: IFINTEC Finance Technologies Conference and Exhibition, Istanbul www.ifintec.com


17-20: Payments 2016, Phoenix www.payments.nacha.org


May


17-19: Temenos Community Forum (TCF), Barcelona www.temenos.com


June


7-8: EBAday, Milan www.ebaday.com


For further information and a comprehensive listing of industry events, visit our website: www.ibsintelligence.com


If you are interested in being listed here, please contact James Moscicki, Subscriptions Sales Manager Tel: +44 (0) 207 520 2630 Mobile: +44 (0) 7415 772 300 Email: jamesm@ibsintelligence.com


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