IBS Journal May 2015


Backchat The latest industry gossip


Temenos is believed to be launching a new Software-as-a-Service (SaaS) offering for its banking solutions together with Capgemini. It is understood that the project is a resur- rection of a very similar initiative with HP, which came close to launch a couple of years ago (a colourful marketing brochure to that effect was doing the rounds at Temenos’ annual conference, Temenos Community Forum, in Abu Dhabi in 2013). However, this tie-up has not come to fruition. Since then, HP has acquired ZIS d.o.o., the IT arm of Hypo Alpe Adria Bank, which


provides a hosted facility running Temenos’ T24 core banking system. HP intends to turn this into a commercial offering (at the point of acquisition, ZIS was supporting four of Hypo Alpe Adria Bank’s subsidiaries in Eastern Europe). Meanwhile, Temenos has been talking to Capgemini, one of its key global partners


(the partnership agreement has been in place since mid-2010), about SaaS. Coincidentally (or perhaps not), Temenos’ director of the SaaS division, Mar-


tin Kearsley, has recently left the vendor less than a year into his post. Kearsley was poached by Temenos from Monitise, where he spent five years as EVP. Previously, he was also with Vocalink and Fiserv. Kearsley states on his LinkedIn profile that he is ‘seeking new opportunity’.


The core system selection at Indian Overseas Bank (IOB) has been concluded, with the contracts expected to be signed by the end of April, according to a source on the ground. The public sector bank went to tender last year, looking to replace its in-house developed, Sybase-based core banking system, Crown. Ernst & Young was recruited to assist with the selection. It is understood that the


two finalists were HP and Wipro, and that both bid with Infosys’ Finacle core system. The winner is believed to be HP, as it has come up with a lower cost offer.


Al Baraka Banking Group, an Islamic banking entity, has embarked on a project to define an enterprise-wide IT strategy. It has a range of core banking systems around the world and it is considering whether to retain a decentralised model or implement a single, central platform to support the entire group. According to a source close to the bank, the analysis has only recently started and any new platform should be in place by 2020. The group has 15 subsidiaries and representative offices, with a total branch net- work of 550. The bank has Misys’ Equation in its home market of Bahrain, plus four other coun-


tries, and others elsewhere, including Temenos’ T24, Path’s iMAL, and an old system called Banxware (now marketed as ORA-Bank) from a Jordan-based company, Future Applied Computer Technology (FACT). In Pakistan it has Autosoft Dynamic’s Autobank- er; in Turkey it has Intertech’s Inter-face; and in Jordan its subsidiary, Jordan Islamic Bank, runs the ICBS core system from BML Istisharat. Al Baraka is on old releases of some of these systems, including 3.8.2 of Equation in


Bahrain, where last year it migrated Islamic financing from Equation onto the lending system of India-based Pennant Technologies.


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