IBS Journal February 2015
result. The MFI kicked off a search for a new system in 2013, inviting vendors to provide expressions of interest to carry out the project. The new system was intended to go live in 2017. The tender process, however, was
abandoned. A spokesperson from Pride MFI said to IBS: ‘We were unable to finalise the earlier process and decided to re-ten- der the procurement in 2015.’ It is thought that the MFI had shortlisted Oracle FSS’s Flexcube as its system of preference, but a source close to the project suggested that due to a several month-long delay in the negotiations, the local regulatory bodies annulled the selection. The latest tender, which has a dead-
line of 2nd February, also hopes to achieve a go-live date of 2017. Interested vendors are asked to provide functionality cover- ing a range of loan products, deposits and money transfer services.
Nigeria
Nigeria-based Sterling Bank has conclud- ed its system selection, which it initiated in the middle of last year. Early in 2014, the bank completed a project to move its Islamic banking subsidiary onto a new sys- tem, iMAL from Path Solutions. At the time, the bank suggested to IBS that it was also considering replacing its conventional core system, the ICS Banks platform from ICSFS. It has chosen Temenos with its T24
platform, and the project is now under- way. It is thought that Indian vendor Info- sys was evaluated at an earlier stage, and was one of three suppliers to make the final shortlist.
Tanzania
In Tanzania, Azania Bank’s core system selection is still rumbling on, with the procurement – which was meant to be concluded by the end of last year – now pushed back until February.
Ethiopia
Here, Oromia International Bank’s search for a new Islamic banking system is com- ing to its climax, with the selection now at the shortlist stage. It is known that the bank’s incumbent supplier of conven- tional core software, India-based Infra- soft Technologies with its OmniEnterprise
IN BRIEF
India is to get a new national switch as part of plans from National Payments Cor- poration India (NPCI) to modernise the domestic payments infrastructure. NPCI has issued a tender for suppliers to deliver the new platform, with shortlisting current- ly underway. It is known that US supplier, FIS, is one of the vendors in the running for the deal. A source close to the project suggested that ‘many new players’ were involved in the selection. International credit card network provider Mastercard – via its recently acquired subsidiary Electracard Services (ECS) – is also understood to be in the running. NPCI circulated a request for expressions of interest earlier last year, with a pro-
visional response deadline of October, although this was pushed back by nearly a month to the middle of November. The new software is required to provide ATM driving, POS terminal driving, mobile payments, an e-commerce gateway and mer- chant acquiring. It should also be capable of routing non-card message-based elec- tronic fund transfer (EFT) transactions. Other requirements include a modern archi- tecture, with access to APIs for integration with third party components, 99.99 per cent availability and compliance with industry standards such as ISO 20022, XML and PCI DSS.
FIS has been broadening its presence in India via both its core banking offer-
ings as well as its payment switching solutions, for which it claims 15 domestic banks on its user list. Earlier this year, it completed a project at public sector bank, Bank of Maharashtra, to deliver a card switching and fraud management solution across the bank’s 1800-branch network. It has also recently tied up with Muthoot Finance, a gold financing company with over 4000 outlets, to provide a fully man- aged ATM services and switching solution. ECS, meanwhile, beat FIS in a selection at the end of last year for a project to
deploy a shared payments platform for EFT, POS and ATM transactions for seven Nepalese banks. Opus Software Solutions, the owner of ECS, sold its stake in the company to Mastercard in May this year. ECS claims State Bank of India as one of its largest customers, supporting a payments infrastructure of over 90 million cards.
platform, is one of the candidates vying for the deal.
Some winners so far
Path Solutions, the Kuwait-based Islam- ic system supplier has been the benefi- ciary of a number of selections conclud- ed towards the end of 2014. Sudanese
Dar es Salaam, home of Azania Bank ©Muhammad Mahdi Karim, Commons Wikimedia
Egyptian Bank in Sudan was one taker of the vendor’s iMAL system, the other being Arab Gambian Islamic Bank in Gambia, the vendor’s first taker in the country. Around the same time, Sopra Banking
Software picked up a deal in Democrat- ic Republic of Congo with Kwanza Capital for its Amplitude platform (formerly Del- ta-Bank) to support corporate banking.
© IBS Intelligence 2015
www.ibsintelligence.com
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news: system selections
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