IBS Journal April 2015
Who’s bought what? WHO? Development Bank of the Philippines WHAT? Core system from Intellect Design Arena
Hot on the heels of Philippine Postal Savings Bank’s (Postalbank) decision to replace Misys’ Equation for deposits, another domestic bank is now following suit. This is Development Bank of the Philippines (DBP), which has recently concluded a selection process initiat- ed last autumn for the full replacement of Equation. The supplier enlisted to deliver the new system is India-based Intellect Design Arena (Polaris as was), in conjunction with local partner Kaisa Consulting. The selection was approved in Feb-
ruary by the Philippine International Trading Corporation (PITC), the body
responsible for the oversight of the pro- curement process. DBP has allocated a budget of
$6.5 million for the project. The scope includes deposits, loans and general ledger. Polaris was selected on the basis of a technical scoring and price compar- ison process, pipping regional systems integrator, FPT Information System, at the final stage. On the technical scor- ing side, Polaris scored a total of 83.01 per cent, whilst FPT’s proposal achieved 81.9 per cent.
FPT lists itself as a specialist with
Oracle FSS’s Flexcube core, although it has been known to work across
other systems also. It is working with Temenos’ T24 to overhaul the State Bank of Vietnam’s core banking system (a project initiated in 2014), for instance. It is also a partner of Colvir Software Solutions, and markets its Colvir Bank- ing System in the region. In addition, FPT has its own core banking system, Smartbank. The local market has been booming
of late, with a number of banks modern- ising legacy core systems with offerings from international suppliers. Oracle FSS, Temenos and Infosys in particular have been beneficiaries here, scooping up a number of wins over the last few years.
WHO? Actinver Bank WHAT? Oracle FSS’s Flexcube
Actinver Bank in Mexico is adding Oracle FSS’s Flex- cube core banking system to its back office set-up, having already installed Misys’ Fusionbanking plat- form.
When Actinver launched banking operations
in 2010, it opted for Misys’ core banking offering, known then as Bankfusion Universal Banking. It was a significant deal for the vendor, as unlike most of the Bankfusion takers at the time, Actinver was a brand new customer, rather than an existing client going through an upgrade from the legacy Bankmaster sys- tem. ‘It wasn’t a quiet little deal, we had all our major competitors there,’ a Misys spokesperson told IBS. The bank was also one of the early live sites of the new system. Today, Actinver uses Misys’ software for cur- rent and savings accounts, both for back office pro- cessing and teller applications at the front-end. The bank is now busy with other software pro-
jects, namely the implementation of Flexcube and Tibco middleware. A local integrator, Sophos Bank- ing Solutions, which works with both Oracle FSS and Misys, is assisting with the project. It is unclear, how- ever, what functionality exactly Flexcube will provide.
WHO? Enjaz Capital Islamic Microfinance Bank WHAT? Temenos’ T24
Temenos has gained a new client for T24 in the microfinance sector, Enjaz Capital Islamic Microfinance Bank (ECIMB). The bank will implement the R14 version of Temenos’ T24 core bank- ing system and the mobile banking solution, Temenos Connect. ECIMB is a Yemen-based greenfield bank backed by a Ger-
man investor, Finance in Motion. Temenos’ Pakistan-based part- ner, NDC, will carry out the implementation. NDC has experience of working in the microfinance sector.
Waseela Microfinance Bank in Pakistan, for example, took T24 in 2011, with NDC carrying out the implementation. The bank was also a start-up at the time (set up by a local telecoms company) and opened its doors in May 2012. For Temenos, this will be the second known installation of
T24 and Temenos Connect in Yemen. Yemen Bank for Recon- struction and Development (YBRD) is a long-standing user of the core system in the country, and last year it extended T24 to its new Islamic banking business. The project was also carried out by NDC, whilst Temenos provided the governance. It is understood that ECIMB’s investors are pondering set- ting up similar banking operations across a number of countries in Asia. It is not clear, however, whether Temenos’ T24 will be a standard system of choice or whether decisions will be taken on a case-by-case basis.
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© IBS Intelligence 2015
www.ibsintelligence.com
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