IBS Journal June 2015


Sentenial unveils ‘non-bank alternative’ for payments


Ireland-based provider of SaaS solutions for SEPA payments, Sentenial, has set up a pay- ments processing subsidiary, Nuapay. The new company has a payment institution status and is registered in the UK. It will cover multiple markets across Europe. Bri-


-


tenial, says that the initial focus is on the UK, Ireland and France. Sentenial describes it as a ‘non-bank alternative for payment processing’ aimed at businesses that need direct debit processing with ‘a better ser- vice at a better price’. There are already 20 customers signed


up for the service, all in the corporate and SME space. 90 per cent of these are


new-name wins for the vendor. ‘There is a


so it is reassuring,’ he comments. Nuapay was about 18 months in the


making, but Sentenial itself has been in the business of processing payments since 2003 and has always specialised in an out- sourced service. It claims around 1000 customers, the overwhelming majority of which are in the corporate and SME space. On the banking side, there are around a dozen users, with well-known names like ABN Amro, Barclays, JP Morgan Chase, ING and Commerzbank among them. ‘It is not like we built the technology


and then gave it away for banks, corporates


and SMEs to use on premise, we have actu- ally been running it ourselves in a SaaS environment. So we have plenty of expe- rience and are doing all the heavy lifting,’ Hanrahan states. Nuapay utilises the tech- nology built by Sentenial, namely its Origix and Eurodebit product suites. ‘Nuapay is a major part of our business going forward,’ he says, adding that the main competition is coming from banks, as they still domi- nate the space. Until the Payment Services Directive (PSD) legislation introduced by the European Commission in 2009, which enabled non-banks to obtain a payment institution licence, banks were by and large the only option.


Bank of Ireland in core banking system overhaul talks


Bank of Ireland, one of the ‘big four’ Irish banks, is believed to be pondering core banking software renovation. The focus is on the UK operations to begin with, which stem from the mid-1990s acquisition of Bristol & West Building Society. The bank also provides services through the UK’s


It is understood that Bank of Ireland is interested in the Software as a Ser-


Capgemini and Temenos. This is brand- ed as Capgemini’s Banking Platform and is underpinned by Temenos’ T24 core banking system. In addition to the hosted option, Capgemini says the platform can be delivered as a ‘secure private cloud ser- vice’. It is currently available in Europe, but


roll-out agenda for this year. If Bank of Ireland goes ahead with the


ageing Alnova retail core banking system in the UK. Alnova is supplied by Accentu- re and has been running at Bank of Ireland for many years. The only other user of the -


Bank of Ireland is also on the user list


of Sopra Banking Software and its Mort- gage and Savings Suite (MSS, former-


Attentiv, then Tieto, and now residing with 10


Sopra), which had been in place at the Bristol & West Building Society prior to its takeover. DPR Consulting, a domestic loan origination software developer, is also on the UK-based Bank of Ireland suppli- er list. Loan servicing and administration is done by the iConnect solution supplied by another domestic vendor, HML. On the treasury side, there is the TMS system from IT2 (now part of Wall Street Systems).


also has a hotchpotch of systems, includ- ing Misys’ Bankmaster core system, Finan- cial Objects’ IBIS (now part of Temenos)


© IBS Intelligence 2015 www.ibsintelligence.com


Bank of Ireland HQ ©Cqui, Commons Wikimedia


on the corporate side, FIS’s ACBS for syn- dicated lending, plus Misys’ Fusioncapital Summit and Wall Street Systems’ Wall- street Suite for treasury and capital mar-


IBSNet system from Surecomp in Ireland and the UK. As for Accenture, it is certainly not


the end of the road at Bank of Ireland, as it won a large outsourcing contract with the bank last year, to manage its group technology and change division. Around


bank as a result.


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