IBS Journal June 2015


for Temenos Payment Suite


Current functionality is for high value, low volume payments in the corporate banking space. However, Gilmour says ‘there is potential to extend it to other segments’. The project is running late and has


been ‘a learning curve’, Gilmour admits. It was originally unveiled in 2012, and has been a new experience for both parties. There were plans to go live last June, but due to a number of issues, the


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date had to be pushed back. Quite far into the project, for instance, a glaring oversight was discovered: a key piece of functionality failed to make it to the original requirements list, and this sig-


Meanwhile, the new taker of TPS is Citco, an international group of inde-


- cial and fund management services.


Citco is looking to modernise its core banking software across its European operations (replacing Misys’ Equation at a number of sites with T24) and will also deploy a new payments hub based on TPS. IBS exclusively reported on Cit- co’s system search last autumn (the deal


six countries, and is penned to go live in 2016.


targets Misys’ Message Manager users


Commercial Bank of Sri Lanka has gone live with Aqua Global’s e2gen


the long-standing UK-based provid- er and has the system interfaced to Fiserv’s Signature (formerly known as ICBS) and China Systems’ Eximbills


‘It was one of the most tortu-


ous sales cycles we’ve ever had,’ says Aqua’s managing director, Nick Fer- nando. Gained via the company’s sales partner, Asia Business Connec- tions, the lead stemmed from a pres- entation in the country to a number of local banks two years ago. The pro- ject itself, once the bank had signed, was relatively fast, spanning around two months, with cutover in Q1 2015. There was some customisation need-


ed for the local market. This included an interface to the local clearing system, the Sri Lanka Interbank Payment System (Slips), -


tronic reporting to the central bank of FX from the import or export of goods. The e2gen system replaced manu-


al processes. It constitutes a bi-direction- al hub for Swift and Slips messages, plus


Colombo, Sri Lanka ©Sammu, Flickr


in Sri Lanka. The bank is managing this project itself, says Fernando, and he expects there to be mini- mal intervention from Aqua Global. This addition is due to be live by the end of June. As another new country for Aqua Global, there is a need for a new interface, to the clearing sys- tem, the Bangladesh Electronic Fund Transfer Network (BEFTN). Fernando is hopeful of addition- al business in Sri Lanka. More gen- erally, he says the company is busy talking to a number of Misys users about potentially replacing its mes- saging system, Message Manager. Aqua Global has recently complet- ed a proof of concept study for a


includes sanctions checking, with links to the Accuity database, booking to Signa- ture and the generation of outbound set- tlement messages. Files of account entries from Eximbills are also booked into Signa- ture as general ledger entries via e2gen. In addition, the system provides tailored screens for entry of internal transfers, local and Swift transactions. Having gone live for Sri Lanka, the bank is planning to implement the sys- tem for its Bangladesh operation, which also uses Signature and Eximbills hosted


8 © IBS Intelligence 2015 www.ibsintelligence.com


UK-based bank with Misys’ Equation core banking system and has interest from other Misys users, including in the Middle East.


expenses-only proof of concept study for any users of core banking systems where it already has a standard interface. These are typically the ageing IBM iSeries-based platforms (e2gen runs on the iSeries), com- prising Misys’ Midas and Equation, Fiserv’s Signature, the Financial Objects-derived IBIS (which now resides with Temenos) and ERI’s Olympic.


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