IBS Journal February 2015
BIL and Avaloq scrap joint venture in Luxembourg
...continued from front page
An earlier selection was carried out whilst BIL was under the ownership of Dexia, but follow- ing the latter’s demise during the financial cri- sis, this project was also halted. The most recent selection process, which was agreed in mid- 2014, saw Avaloq beat local rival Temenos for the contract.
BIL runs a legacy in-house system which
Mathias Schütz, then GM for Western and Southern Europe at Avaloq (he is now the CEO of Arizon Sourcing AG, the BPO venture between Avaloq and Raiffeisen Switzerland) described as having been adapted and custom- ised over the years. Will the bank now go back to market for an
alternative? And who will be Avaloq’s new part- ner for a BPO joint venture in Luxembourg?
Luxembourg City ©Cayambe, Commons Wikimedia
Charter Savings Bank joins UK start-up rush
Charter Savings Bank becomes the lat- est addition to the UK’s banking market, backed by Charter Court Financial Services Ltd (CCFS). The new bank has been grant- ed a licence by the Prudential Regulation Authority (PRA) and is set to launch in the next few months. The bank will provide online and tele-
phone banking services for savers. CCFS describes the venture as ‘a real alternative to traditional banks’, ‘a true challenger’ and ‘a UK bank for UK savers’. CCFS, which was established in 2008,
already has two financial institutions under its patronage, Precise Mortgages and Exact Mortgage Experts. The former offers residential and buy-to-let mortgag- es, as well as bridging and second charge loans, whilst the latter focuses on solutions for asset trading, mortgage servicing and mortgage origination. The companies run software provided by local vendors, Phoe- bus Software and DPR Consulting. CCFS has an aggressive expansion
strategy, and in the course of 2014 it increased its workforce by nearly a third, with more recruitment underway. It has
also made a raft of leadership appoint- ments recently. Philip Jenks, a seasoned retail banking professional, is the new chairman of CCFS and Ian Ward, ex-CEO of Leeds Building Society, is vice-chair, responsible for the savings line of prod- ucts. Another addition to the board is Tim Brooke, formerly a partner at PwC. He will
be overseeing the bank’s risk functions. CCFS’s chief executive, Ian Lonergan, will be heading Charter Savings Bank. Ian Wilson has been named the bank’s chief risk officer, while Paul Whitlock, formerly in charge of savings at another UK entity, Shawbrook Bank, is now director of savings at Charter Savings Bank.
IN BRIEF
Rang-ay Bank, a rural bank in the Philippines, is replacing its legacy Microbanking system with Oracle FSS’s Flexcube. Go-live is scheduled for H1 this year. The bank claims to be the first rural bank in the country to have signed for an
international core solution. The deal was brokered via a local integrator, Kris Fin- software, which is also assisting with the implementation. It is understood that Rang-ay Bank was influenced by the fact that Flexcube is
already in use in the Philippines, with Bank of Commerce and Philippine National Bank running the system. At Rang-ay Bank, the go-live is anticipated in H1 2015. The new software will
replace the bank’s legacy FAO-GTZ Microbanking System (also known as MBWin) that stems from a 1980s development by the United Nations. Flexcube will bring centralisation of operations and technology to Rang-ay Bank, and will also enable the bank to join an ATM consortium in the country.
© IBS Intelligence 2015
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