search.noResults

search.searching

note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
IBS Journal February 2015


participating banks and the RBA. o ISO 20022 – The new infrastruc-


ture is based on ISO 20022 and XML mes- sage standards. o Overlay services – Mobile-to-


mobile, bill payment and property settle- ment payments can use the NPP rails. ‘You can consider it as a kind of virtu-


al hub that sits in Australia, with the soft- ware running at the participating sites and at the RBA for settlement. There is no real central component, except for the routers


for the messaging,’ says Palmers. ‘The way we have done it is cheaper than building a massive central hub, and more cost-effec- tive,’ he adds. Swift’s partner for this project, Fiserv,


will be providing the addressing database, similar to that developed and managed by Vocalink in the UK for services such as Zapp. The addressing database allows the engine to match any kind of data, be it an email address, mobile phone number, or a Facebook account, with the account


number of the beneficiary bank. ‘So as the user of the system you do not need to know the account details of the coun- terparty anymore, and can just use the details you are familiar with.’ Off the back of this deal, Swift is now


hoping to take this proposition to other markets as part of its strategy for 2020. ‘We are in long discussions with a number of prospects, and the plan is to replicate something similar in other markets,’ says Kennel.


MCO Finance gains success with Spanish and German banks


France-based MCO Finance has won deals for the calculation engine part of its Loan Access solution from BBVA and Saarbrück- en Landesbank (SaarLB). Both users have taken the software to handle French loans, but with the middle office residing in their home countries of Spain and Germany, respectively. As such, the wins represent steps into neighbouring countries by a vendor that has been largely focused on its domestic market to date. BBVA will support around 20 users,


with two-thirds being front office users in France and the rest in the bank’s Madrid middle office. As Spanish banks have withdrawn from France, so BBVA sees an opportunity to gain more business with both personal and corporate lend- ing. However, France has some specif- ic requirements, particularly a regulation called Taux Effectif Global (TEG), by which banks have to provide a view of future repayments to customers. TEG is complex, says MCO’s develop-


ment director, Sebastien Brugalle, in part because there are many events that can impact the calculations over the course of the loan. There have been some lawsuits brought by customers in France related to TEG and a recent study suggested that as many as four in ten loans are not com- pliant. This has clearly focused banks on this. At BBVA and SaarLB, the calculation engine will be used by the front office staff when making proposals to customers and by middle office staff when authorising them. BBVA has Misys’ Midas in France and


the calculation engine will be interfaced to this.


SaarLB is located close to the French


border and has activities in Paris and east- ern France. It will use the software to sup- port its private and corporate lending. As with BBVA, the system has been taken on a hosted basis. The two banks are follow- ing where Qatar National Bank in France, a signing in 2013, led with MCO’s calculation engine. Also recently signed is a front-to-back


office deal at a domestic lending entity, Ini- tiactive95, which provides loans to allow unemployed people to start their own businesses. It is a relatively small customer


which will have around ten users and has signed for the hosted version of MCO’s lending system. It was using a more or less proprietary system from a local company, says Brugalle, and this could not support the user’s increasing volumes. MCO Finance is not particularly well-


known because its main sales channel used to be Viveo, its fellow French supplier. That arrangement came to an end when Viveo was bought by Temenos, causing MCO to build its own sales capability. At present, says Brugalle, the company is in feasibility studies with a couple of potential partners looking at building solutions for crowd funding and account data aggregation.


IN BRIEF


UK-based Secure Trust Bank has launched a new business line, Secure Trust Bank Real Estate Finance. It offers loans for residential and commercial property develop- ment, underpinned by the Aurius front-to-back office solution from Sword Apak. It is understood that the vendor’s work with another UK-based entity, United Trust Bank (UTB), which also offers real estate financing, contributed to Secure Trust Bank’s decision to partner with Sword Apak. The system is supplied on an ASP basis, and is hosted at Sword Apak’s data cen-


tre in Bristol. This is the first ASP installation of Aurius, and is seen by the vendor as an important reference site. It is understood that the bank was originally planning to use Excel spread- sheets as an interim solution, as it was keen to launch the business line promptly, and then migrate to an automated solution. However, Sword Apak convinced the bank that it could launch with basic functionality in a short timeframe and then expand the use of the new solution and integrate it with the bank’s main GL soft- ware package in later phases.


© IBS Intelligence 2015


www.ibsintelligence.com


11


ibs news


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56