IBS Journal March 2015
BTPN Syariah perseveres with Temenos T24 core system roll-out
BTPN Syariah, the Islamic subsidiary of one of Indonesia’s largest banks of the same name, has targeted a Q3 2015 completion date for its multi-year roll-out of Temenos’ T24 core banking system. The project dates back to 2012, when BTPN selected T24 to replace Misys’ Equation for its Islamic business unit (the latter is still used by the parent bank for its conventional activities, and was claimed by Misys to be upgrading to Fusionbanking Equation as of 2013). In early 2014, however, BTPN assumed a con- trolling stake in another local bank, Bank Sahabat Purba Danarta (which was also in the process of migrating to T24), with the intention of launching a fully-fledged com- mercial Islamic bank with BTPN’s Islam- ic business integrated with Bank Sahabat. This subsequently became BTPN Syariah, with the country’s regulator giving it the green light to launch in July 2015. ‘In the first phase we have already
implemented the basic modules such as savings management [wadiah, mudara- bah], so basically on the liabilities side and accounting. On the asset side, we decided
Jakarta, home of BTPN Syariah ©Luke Ma, Flickr
interoperability built in with a microfinance system, regulatory reporting system and data warehouse. Asmo says that despite Temenos offer- ing a model bank version of T24, the pro- ject has involved a lot of customisation to suit the specific needs of BTPN Syariah. ‘Although the references are there, the dif- ferences between one bank and another are quite large, so it requires a lot of cus- tomisation.’ This adds complexity, he sug- gests, as each customisation requires test- ing and certification. ‘That is the challenge we are now facing,’ remarks Asmo. The project has been carried out with
at that time to not include it in the first phase,’ says Pak Asmo, director at BTPN Sya- riah. The second phase is now ongoing, with this divided into two sub-phases to incorporate channels integration (for ATMs and mobile banking) and the roll- out of financing products such as mushar- aka and murabahah. There will also be
Temenos’ local partner, Anabatic Technol- ogies, which has worked on a number of T24 implementations in Indonesia, such as with Rabobank Indonesia and Bank Sya- riah Mandiri. Several of the local banks which use T24 have formed a dedicated user group, says Asmo, which BTPN Syariah is now a member of. The group discusses common issues associated with their expe- rience with the system, with this working independently of Temenos.
Temenos, Misys and Oracle FSS square off for RCA core banking system deal
Rwanda Co-operative Agency (RCA) has shortlisted seven vendors for the provision of its new core banking system. RCA will set up a new co-operative bank which will support the disparate co-operative net- work in the country, comprising 416 banks (otherwise known as Saccos), under a sin- gle umbrella. The project has a provisional two-year timeframe. The suppliers shortlisted comprise
Temenos, Misys, Oracle FSS (via local part- ner, Fintech), Polaris/Intellect, Greece- based Intrasoft International, Fern Soft- ware, and a partnership between two sys- tem integrators, Fasyl Technology Group and Alpha Soft, bidding with the Trustbank core system from Indian supplier, Trust Sys- tems and Software. 38 suppliers were known to have
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expressed an interest in carrying out the project, but the bank states on its web- site that the final seven were shortlisted because ‘through their expressions they showed stronger capacity to perform the assignment than others’. RCA intends to shift all of the Saccos
away from manual-based processing with a centralised environment. The system will support all business activities, includ- ing loan administration, savings accounts, treasury management, cash and cheque management, mobile banking as well as integration to the national RTGS and ACH. In late 2012, the aforementioned Intra-
soft won a deal to supply its core banking system, Profits, to a number of microfi- nance institutions (MFIs) via a partner- ship with the Rwandan Microfinance
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Association (RMA). The vendor signed up four entities, which went live with the MFI version of Profits over a two month peri- od in 2013. The central bank, National Bank of Rwanda, also went live with a new core banking system in early 2014, Temenos’ T24. The vendor picked up another deal here in Q4 last year, with start-up Invest Bank Rwan- da, which opted for T24 and Temenos Con- nect for internet banking. Incidentally, the most widely installed
international system in Rwanda is the Sopra Banking Amplitude platform owned by Sopra Banking Software (formerly Del- ta-Bank before Delta Informatique’s acquisi- tion by Sopra in 2011). Domestic users of the system include Rwanda Development Bank, Bank of Kigali and Cogebanque. Sopra, how- ever, has not been shortlisted by RCA.
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