g
An Islamic banking win
An Islamic banking win was also gained in the latter half of the year from Ambank in Malaysia. With around 200 branches in its home territory and a presence in Singapore and Indonesia, Ambank felt its ambitions for growth were constrained by the Systematics solution (from FIS) which was first implemented in 1989. It was believed that maintenance costs were simply too high and Systematics was unsuited to developments in areas like multi-channel banking. Similarly, for Islamic products, the bank had to build workarounds or use other platforms to support them. Anthony Chin, programme director at the bank, said one of the reasons for the selection of BaNCS as a replacement was it was believed that TCS was the strongest in terms of cultural fit as well as functionality and features, particularly for Islamic banking. ‘We looked at existing functionalities as well as future functionalities, and some of the things they have in their roadmap augur well for our bank,’ said Chin. The target for go- live was Q2 2013. At the announcement of this deal, TCS stated its intent to set up a regional support centre for BaNCS in Kuala Lumpur. The scope of Ambank’s overall transformation project involved a big bang implementation across around 200 branches of three systems. These were TCS Bancs for core banking, the supplier’s new teller front- end and an enterprise data warehouse from Greenplum (now part of Gopivotal). Around four million customers and five million accounts
were involved, with a total of around ten million records made up of customer information file plus loans, deposits and payments. About 90 interfaces were written. The enterprise data warehouse needed to be connected to many downstream systems in finance, compliance and risk, for multi-year data analysis and regulatory reporting. The project seemed to go smooth, culminating in a successful cut-over. Ultimately, for the year as a whole, there were 13 new name signings again for TCS in 2011, including Ambank, Ziraat, Switzerland-based PostFinance; Botswana-based Letshego Holdings (a pan-African consumer lending company), a credit union in China, two signings from the US for the niche functionality of securities processing, asset servicing and cash account management, and an off-the-record deal in UAE. Version 12 of BaNCS was also in the offing by this stage, with
product developments to include an IFRS compliance engine, with functional advances in the area of securities, plus a number of smaller enhancements and architectural changes to improve BaNCS’ multi- currency capabilities and suitability for the hosting model. A new channels solution was also in the offing and planned developments for 2012 were thought to include second and third phases for the IFRS engine, as well as enhancements in the areas of leasing, hire purchase and dealer finance. TCS was also believed likely to work on loyalty schemes and relationship-based pricing. The Java version of BaNCS would also have a large new release in September 2012 and it was thought that solutions for the iPad and smartphones were on
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