g
alongside Unix and iSeries. There was a new presentation layer, using Java and XML, and embedded workflow through W4, a Business Process Management tool from a French company of the same name, which SAB was increasingly embedding within its solution. SAB has the source code to this and can also distribute it as a product in its own right.
Despite continued international activity, including partners recruited in Tanzania and Algeria, and bids in Africa and the Middle
More Islamic wins
Later in the year, there was, notably, a second Shari’ah banking win for SAB. This was from a start-up Islamic bank in Mauritania, Maurisbank. It signed for SAB AT on a SaaS basis. The implementation, starting on 2nd January 2013, was expected to take six months. In selecting SAB, the bank rejected a number of systems that were already live in the country, including Path Solutions’ iMAL, which supported Mauritania’s first Islamic bank and also clocked up second and third Islamic start-up takers here, Banque Populaire de Mauritanie (BPM) and Bank Al Muamelat Assahiha, at around the same time as the Maurisbank selection. Maurisbank’s president and main shareholder, Ahmed Ould Megaya, said the bank was introduced to SAB through its Tunisian partner, Arabsoft. While the system still only had the one other Islamic banking customer, Karsazan Ayandeh, Megaya said the Islamic knowledge of the supplier as well as the functional fit influenced the decision. As well as covering the bank’s front-to-back office needs, SAB’s CRM portal component was taken for the bank’s relationship managers. The overall rate of banking in the country was very low, said Megaya, and he felt there were many opportunities. He believed the SaaS model would be the cheapest option and the bank intended to use the system on this basis all the while this was the case. Mauritania has a growing economy, further bolstered by the recent discovery of new oil reserves, but the country is under-banked, with bank loans and deposits estimated to represent less than 20 per cent of the country’s GDP. There were fairly significant changes of personnel at SAB in 2011
as Schintowski departed for Avaloq and Naji Moukadam, a long- standing senior executive at Islamic banking systems supplier, Path, was recruited as managing director of a newly-launched Dubai subsidiary, SAB International. This was to cover the Middle East, English-speaking parts of Africa, Asia and Asia Pacific. Estephan was
East, SAB’s 2010 and 2011 sales were limited to France and there were seemingly no further Islamic gains. 2012, however, did witness some African expansion with the recruitment of a first customer in Tanzania in the form of Twiga Bancorp. Elie Estephan, a director at SAB Mediterranean, stressed the importance of this project for SAB in terms of African expansion and also claimed ‘we are now opening up the Middle East’.
also recruited from Path around the same time. Overall, in addition to Twiga and Maurisbank, SAB had four wins in France during 2012 and a deal in Lebanon, albeit with the latter off-the-record. A notable win in 2013 was Turkish Trade Bank (Turk Ticaret Bankasi), the supplier’s first customer in Turkey. It was also SAB’s third Islamic customer globally. The bank was to implement SAB AT to replace homegrown local systems. The bank had been the country’s first private bank when formed in the 1930s, and offered conventional services until a decision in May 2013 to convert to Islamic banking. The new platform was to cover a number of Shari’ah-compliant banking functions, with go-live scheduled for Q2 in 2014, when the bank would relaunch as an Islamic outfit. The deal was done via SAB’s local partner, Yaz Information Systems. The system was taken to cover a number of Shari’ah-compliant banking functions ranging from financing (for private and corporate clients), accounts, deposits, savings, payments, general ledger, reporting, mudarabah, murabaha and ijara. As this was SAB’s first site in the country, Yaz assisted with the system’s localisation. The main changes were to do with mandatory daily unit value calculation, local funds transfer systems integration, e-confiscation and identity of citizenship queries. Overall in 2013, SAB gained eight new name deals. As well as
Turkish Trade Bank, there were six in France and one in Algeria, the latter being state-owned Banque de Développement Local (BDL). Further
afield, SAB signed a promising-looking partnership
agreement with an Indonesian supplier, Collega. This would see SAB AT adapted to local regulations before replacing Collega’s own legacy offering in its 11-strong client base. Of the eleven, four had Shari’ah-compliant subsidiaries, which were included in the scope of the partnership. Collega also possessed a data centre, and would host SAB, allowing it to be sold on a SaaS basis although a deployed configuration would also be available. The first and largest of Collega’s customers, which had more than two million accounts was already underway with a conversion project, and was due to deliver
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