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have arrived through acquisitions. By early 2006, a new strategy had been outlined which included its commitment to offering all of its core systems, keeping them as strategic products. However, it had added a middle layer which allowed them to interoperate and also formed the platform for a number of new components that could be shared by the other applications. The middle layer was the Sanchez- derived Xpress. It started in 1998 as an integration and aggregation engine to link Sanchez’s own products to those of third parties. It now supported multiple delivery channels and included an XML gateway and load balancing facilities. It was intended to handle customer authentication and security, and provide facilities for customer centric alerts, account aggregation services and customer correspondence management. As well as providing the front-end layer for Systematics, Corebank and Profile, Xpress (or XES as it was now dubbed) would also be a front-end for ACBS. The company’s
Progress and setbacks Profile continued to bring in steady business, although these
projects are not always problem-free. In 2008, it was taken as part of a major reengineering initiative at National Bank of Pakistan, intended eventually to cover 1200 branches. However, by mid-2011 just one branch of the bank had received Profile. By early the following year, it also found itself at the centre of fraud allegations and a lawsuit in connection to the system selection process and outcome at this bank. Nonetheless, the bank also played an important role in the Islamic banking aspirations for this solution (see below). In Russia, following its first win at Renaissance Credit, Profile was
taken for VTB 24, a start-up of Vneshtorgbank. By early 2010, FIS claimed to have gone live with the first phase of the VTB 24 project, and to be about a third of the way through in total. Further good news then came towards the end of 2011 when Transcreditbank, recently acquired by VTB, also signed up for Profile. There was a successful project at another 2008 signing, Government Savings Bank in Thailand. It was strongly influenced by the fact that Profile was already implemented in the country, in contrast to a number of failed systems. With 900 branches and 20 million accounts, this was a sizeable project. The cut-over came, on schedule, in October 2009. There were four new customers for Profile in 2009, including
Scottrade, a discount online trading firm which had plans to offer retail banking. Also in 2009, FIS announced that Profile would finally
future plans included the extraction of common functions from the core banking engines and populating the Java middle layer with generic components to be used across different platforms. By the early part of 2006, a Universal Customer component was, apparently, already in production at a Systematics user. The next development was to be a Product Hub, to allow users to catalogue and package products and to create both greater flexibility and faster time-to- market. Other changes might include the move of cash management and overdraft areas to the middle layer. FIS’s stated focus is on upper tier banks. Sales are not large in quantity but it still brings in interesting deals. The supplier clearly has more back office systems than almost anyone else. It has described the division as Systematics being the batch mainframe option; Profile as the top tier real-time open system for Unix and Linux.
be available on the IBM z-Series, having promised this on and off for a number of years. The main purpose of this move was to offer an upgrade path to banks already on the mainframe technology. Software development for this was completed by the end of 2008; IBM lent some resources to modify its operating system. A single configuration, single database version of the system was benchmarked by FIS covering at least 100 million accounts with over 3000 transactions per second and 100 million batch transactions a second, all with less than one-tenth of a second response time. Both FIS and IBM started promoting this option as available on a global basis with a focus on the top 750 banks. There were three off-the- record core system deals in 2010 for Profile (one in the US, another in Thailand and a lending win in India) and four wins in 2011. Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) also selected Profile in 2012. There was also a more concerted push for the Islamic banking systems market around this time with the 2012 unveiling of an Islamic banking module for Profile following development work carried out the previous year. Developed with the guidance and certification of the Islamic Banking and Finance Institute Malaysia, the solution was based on Malaysian Shari’ah law. ‘We chose Malaysia because we see it as an up-and-coming Islamic centre in terms of banking regulations and finance in this region and beyond,’ explained Khalid Alaeddin, manager of delivery and professional services at FIS. ‘We involved its Shari’ah council and consultants from day one.’ They assisted the Profile team with compiling and reviewing requirements, and
Islamic Report
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