IBS Journal April 2015 industrybytes Omnichannel platforms Temenos Connect
Temenos’ front-end offering is derived from the 2012 acquisition of a UK-based specialist in this space, Edge IPK. The latter brought with it a user experi- ence platform (UXP) – Edgeconnect – designed for developing business applications across multiple channels. This is the main technology component underpinning the newly rebranded offering, Temenos Connect. Edge IPK also brought with it a list of notable customers, including ABN Amro, Deutsche Bank and RBS. Connect is the successor to Temenos’ older front-end offering, ARC, which was described in 2013 by the then product director, channels, Robert
Burch, as ‘not really suitable’. The front-end is split into Temenos Connect Mobile Banking (available for Android, iOS and Windows operating systems) and Temenos Connect Inter-
net Banking, spanning retail and corporate banking, as well as wealth management. Temenos has also built out model bank versions of the Connect plat- form for each of the aforementioned business lines, with preconfigured specific functionality designed for a faster time to market. One of the flagship Temenos Connect customers is Nordea Bank in Luxembourg. The bank is a key partner for Temenos, being a pioneer in adopting
its TripleA platform and T24, as well as the wealth management model bank version of Connect. David Arnott, Temenos’ CEO, recently told investors that Nordea was expected to complete its implementation project this year. Another high-profile Connect user is the UK-based challenger bank, Metro Bank. The bank had signed up for Edgeconnect from Edge IPK before
Temenos bought it out, having U-turned on its plans to install ARC (the bank had taken ARC as part of its T24 roll-out). Metro Bank stuck to the original system derived from Edge IPK and managed to launch the software after several years of implementation for retail banking. It was known to have recently been evaluating the market for an internet banking system to support its corporate business. It is understood that corporate banking is thought to be one area of weakness of Connect, with another bank, Bermuda Commercial Bank (a 2014 taker of T24), supposedly rejecting the system on this basis.
Misys Essence
Misys was a couple of years behind its rival Temenos in buying into the front-end space. When it did take the plunge in 2014, it opted for the Hun- gary-based vendor IND Group, which had pedigree and a broad customer list, predominantly in Central Europe. Users included Raiffeisen Bank in Hungary and Ukraine, FHB Bank, Intesa Sanpaolo, CIB Bank, Alior Bank, Zuno Bank and National Bank of Oman in Europe. Misys had partnered with IND for a number of years, with the lat-
ter’s channels offering being positioned as complementary to Misys’ core banking systems, Fusionbanking Universal Banking, Fusionbanking Midas and Fusionbanking Equation (as well as the older iterations). This was for- malised in early 2013, when Misys unveiled its new Misys Bankfusion Dig- ital Channels offering, underpinned by the IND platform, as a precursor to Misys acquiring the company the following year. The IND tie-up was the latest in a succession of attempts by Misys
to crack the digital channels space, having failed to do so with its own offerings or with other partner solutions, including the mobile platform of Clairmail (now under the ownership of Monitise). The Clairmail solu- tion had, in turn, replaced Misys’ own mobile offering, while for broader channel banking, Misys had partnered with another specialist, Finantix. Misys had also then sought to come up with a version of its Trade Portal for retail. Misys gained a few sales for this, but there were no known takers of
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either the Finantix solution via Misys nor the retail portal. While the latter has been jettisoned, the original offering, Trade Portal, and the cash man- agement version, Cash Portal, were cited as being strategic for the vendor as recently as 2013. The IND platform is now known as Misys Essence, and is also posi-
tioned as part of a front-to-back office solution called Fusionbanking Essence. Known takers of this, and the standalone version of Essence, have been sparse to date, with Belize Bank being something of a pioneer, opting for Fusionbanking Essence in the middle of 2014. Another taker is Yoma Bank in Myanmar, which has just concluded a several month selec- tion process (see p9). Another recent addition to the Essence customer list has been
Al-Marawid Bank in Lebanon, a long-standing user of Misys Fusionbank- ing Equation. Misys has also sought to broaden the geographical reach of the
solution to the US. Essence was being showcased by the vendor at the BAI Retail Delivery event in Chicago last year (along with plenty of other hopefuls, it should be said). And there was another local acquisition by the vendor in 2014, this time on the corporate side (Essence is retail in focus), with Misys adding the loan origination specialist, CCS, to its portfolio. The CCS platform is now offered alongside Misys’ corporate banking solutions, namely its syndicated lending offering, Fusionbanking LoanIQ.
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