at banks that plan a gradual IT transformation or want to revamp a specific business line. It is also suitable as ‘a value proposition’ for direct banking entities, according to De Groote. In the latter domain, in December 2013, Evi, a new online savings bank owned by Van Lanschot, launched in Belgium underpinned by Sopra Banking Platform/Thaler. Aside from this, Sopra’s other new name win for Thaler in 2013 was at China Bank in the Philippines. As such there was no further progress in the Islamic banking sector, with more activity here on the whole from the Delta Informatique-derived Delta-Bank, which is now branded as Amplitude.
Product-wise, Sopra’s promise of common components saw the first of these launched in late 2013, for loan origination. Each existing system had its own roadmap and target markets but all were weak in the area of loan origination and distribution, said product director, Michiel Waardenburg, so this was a clear area to address. A development had been underway, from the ex-Business Architects and Evolan teams, and this has been turned into a generic offering, Sopra Banking Lending, which can be offered on a standalone basis or with the Sopra back-ends. It is intended to constitute a device- and database-independent portal and can be delivered in .Net or Java.
Functionality of Sopra Banking Platform/Thaler
Payments: domestic and SEPA payments (credit transfers, direct debits), cheques, debit and credit cards, international payments. Deposits: current and savings accounts, term deposits, certificates of deposit, passbooks. Securities: portfolio management, mutual funds, full private banking including stock exchange orders, securities operations, corporate actions, private assets management, counter coupons, performance reporting. Exchange traded options and futures, OTC options, bonds, FRNs, warrants, securities. Treasury: bank portfolio management. Full support for FX, MM, commercial loans, deposits, funds transfer, interest rate swaps, FRAs, currency swaps, FX options, repos, nostro and vostro account management. Partial support for syndicated loans. Deal capture. Support via third party systems for reconciliations, confirmation matching. Batch and real-time Swift interface link. Loans: mortgages, personal loans, term advances, credit lines, collateral management. General ledger. Channels: internet banking, retail branch support, remote corporate electronic banking. Multi-currency, multi-branch, multi-lingual support.
Number of known Islamic users for Sopra Banking Platform/Thaler: 1 Total number of known Sopra Banking Platform/Thaler users: 51
Islamic banking functionality supported
At the only current Shari’ah user of Thaler, Sabah Credit Corporation, C&W’s system supports a dual financing system. The bank provides both conventional based banking products as well as financing products based on Shari’ah principles. Sabah Credit Corporation provides a suite of Shari’ah financing products called i-Executive personal financing facility. These include house financing, business financing and financing for civil service executives. These products are based on the concepts of Bai Bitamin Ajil and Ba Inah.
229 Islamic Report
www.ibsintelligence.com
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