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CORE BANKING DEALS Alex Hamilton rounds up the latest core banking deals
Done and dusted
Jack Henry Banking, the core banking subdivision of Jack Henry & Associates, has been signed up by West Virginia- based MVB Bank for its SilverLake system. The US FI chose Jack Henry “after a thorough assessment of its business and technical requirements.”
The system will be implemented through JHA OutLink Processing Services, the vendor’s platform for outsourcing. MVB also chose to install Enterprise Workflow, a business process management offering, and its Banno digital service.
“SilverLake provides us with a robust solution to help us deliver successes for our clients and shareholders,” says Larry Mazza, President and CEO at MVB Bank. “The combination of a strong technology platform and a storied company history cemented our decision to partner with Jack Henry Banking.”
Agroindbank Moldova has completed an upgrade of its core banking system, Temenos’ T24. The bank has switched from the older R08 version to the newer R15. The upgrade was carried out with the assistance of Foranx. During the project, “various tasks” were completed, including a technical upgrade of the system, analysis of local developments made by the bank and adaptation of new R15 functionality.
Founded in 1991, Agroindbank Moldova is the largest commercial bank and lender in its home country, controlling 26.9% of total assets, 30% of loans and 28% of deposits.
Togo-based Orabank has finalised the implementation of Sopra Banking Software’s Amplitude core banking system, rolling the new platform out to 12 countries in the process. The bank’s parent group, Oragroup, started the process in 2012, assessing a number of suppliers in the region. It selected Sopra due to the vendor’s ability to provide a “standardised, efficient IT system” throughout a number of subsidiaries.
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Sopra was given a three-year deadline and completed all 12 of the implementations within that timeframe. The vendor says it is particularly proud of the multi-rollout, as the subsidiaries were all located in different geographies and had varying legacy systems that needed replacing.
“Having a standardised IT system is essential for our transformation. Amongst other things, this enables the group to optimise performance and produce uniform reporting at a group level. We will only benefit from synergies generated across our large banking network if our IT systems are effectively standardised,” says Binta Toure Ndoye, CEO at Oragr
oup. “Implementing a
new universal system in all our banks has meant, for example, we can accelerate new product launches and speed up automation of all our activities.”
JMR Infotech has won a core banking managed services deal with Myanmar Apex Bank. The vendor, which holds an implementation contract with Oracle for its Flexcube core banking system, will oversee mission critical operations for the Asian FI’s version of the software. The deal includes database, application and incident and problem management as well as testing and applications. JMR will also be responsible for end of day batch processing.
W J Oon, CIO at Myanmar Apex Bank, says: “We trust JMR will deploy their best technology and domain expertise and their capability to deliver cost-efficient managed services will definitely help us achieve our growth strategy and higher levels of customer satisfaction.”
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