IBS Journal May 2015
WHO? DBS Bank WHAT? AML and compliance software from NICE Actimize
DBS Bank is upgrading its AML and fraud management platforms across the board with NICE Actimize, its long-standing pro- vider. The vendor’s software has been used at the bank since 2007 to monitor and detect unusual and/or suspicious trans- action activities, says Richard Moore, MD, group head of financial crime and security services, DBS. The solutions include case management and workflow capabilities. DBS was scheduled for an upgrade in
one of its markets, and that became a start- ing point for a broader project to move to a
new AML platform offered by NICE Actim- ize, to ‘consolidate multiple instances into a single environment’. Moore adds that the responsibility for AML at the bank is ‘broad- er than just compliance: all our staff play a role in some way in ensuring we keep DBS and our customers safe’. The implementation at the first loca-
tion – India – has begun. It is expected to be completed in Q3 2015, says Moore. ‘We will then progressively replace existing implementations.’ The new version of the system will
provide DBS with ‘enhanced functional- ity and extended coverage of detection models’, he says. ‘It will also provide our analytics team with greater flexibility to design and implement new rules as trends emerge.’ DBS’s key areas of focus today are ‘sys-
‘The speed of regulation change is challenging for banks. Generally, we need to implement technology and process
change, and for large organisations this takes time.’ Richard Moore, DBS Bank
tems (including data), people and regula- tion’, he comments. ‘Legacy systems and variable data quality have always been a challenge for banks. We are improv- ing through implementation of data and system standards. The skills we need to support our AML programmes are also changing. People with business and prod- uct expertise, technology and data experi- ence are extremely important. The speed of regulation change is challenging for banks. Generally, we need to implement technology and process change, and for large organisations this takes time. When we do change for one jurisdiction we plan on the same change for other locations, anticipating that regulators will move in the same way.’
WHO? Zhilstroysberbank, Ziraat Bank Azerbaijan and Tochka WHAT? Colvir’s CBS core
Colvir Software Solutions has won the deal to supply a new core banking sys- tem to Kazakhstan-based Housing Con- struction Savings Bank (also known as Zhilstroysberbank). The bank was known to be in selection mode last year, with PricewaterhouseCoopers (PwC) assisting with the process. Colvir will implement its flagship
core offering, CBS, at the bank’s head office and across its 17 regional loca- tions. The roll-out will be simultaneous across the enterprise, according to a source close to the project. 39 mod- ules will be implemented in a project spanning one year. The contract has just been signed, it is understood. Colvir beat a number of regional suppliers for this deal, including Russia-based CFT with its CFT-Bank offering. The vendor has been netting busi- ness in the region over the last year,
signing Altyn Bank (formerly HSBC Bank) in Kazakhstan and Bai Tushum Bank in Kyrgyzstan in the course of 2014. It has also re-signed with Turkey’s Ziraat Bankasi to implement its CBS core bank- ing system at its subsidiary in Azerbaijan. The initial contract was signed in 2013, for Azer-Turk Bank, Ziraat’s subsidiary in the country at the time. However, the bank was subsequently taken over by the Azerbaijani government, and Ziraat opened a new local subsidiary, Ziraat Bank Azerbaijan, which will run the CBS core. The project will consist of two main phases, comprising 52 modules deployed before the end of this year. Meanwhile, it is understood that
Azer-Turk Bank’s contracts with its cur- rent software suppliers have been sus- pended as the new owners are review- ing the IT strategy. In Russia, Colvir’s long-standing
client,
Bank24.ru has had a new lease of life under the ownership of Otkri- tie Financial Group.
Bank24.ru was the country’s first virtual bank, and resided in the hands of Life Financial Group until its licence was revoked in September 2014 (despite a public outcry). Around six months later,
Bank24.ru’s team, con- sisting of around 350 people, launched a new digital-only bank, Tochka, under the patronage of Otkritie, of one of Russia’s largest financial groups. Tochka focus- es on SME and business banking, and its operations are supported by Colvir’s CBS system.
Bank24.ru’s old website now displays a large banner with ‘The bank’s renaissance’ on it, which links to Tochka’s new sleek website. It is believed that a much larger deal
is now heading Colvir’s way in Russia, with a top-50 bank concluding its core system selection process.
© IBS Intelligence 2015
www.ibsintelligence.com
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