it was merged with Misys) with K+TP, and a deal with the central bank for CCK. This had followed a blank 2010 but 2009 treasury deals for Sungard with Avantgard Treasury, and two for Misys with Opics (Pag-IBIG Fund and EastWest Bank). RCBC provided CCK’s 2009 success in the country, building on wins the previous year at Security Banking Corporation and UnionBank of the Philippines. This was one of a number of replacements of Misys’ Opics. CCK was the only winner of this clutch of suppliers in 2012, at Philippine Business Bank, its fifth taker in the country. Aside
from the two aforementioned 2013
selections over the years, with the three largest banks still primarily centred on in-house platforms. Much of the business over the years has been to the
operations of international banks in Singapore. On the private banking side, Avaloq has become a major
wins
for Infosys, the other selection in the year saw Sopra gain a first foothold in the country, with its Callataÿ & Wouters-derived Thaler/Sopra Banking Platform at China Banking Corporation. China Bank is the fifth largest in the Philippines, with 289 branches, and took Thaler to cover wealth management. Things were busy again in 2014. Infosys had another
success, with Finacle taken by Producers Savings Bank, while Temenos had two wins (one of which was OK Bank) and Oracle took top prize with three, including Queen City Development Bank and Rang-Ay Bank. The latter is a rural bank and the deal was brokered via a local integrator, Kris Finsoftware, which is also assisting with the implementation. It is replacing the legacy FAO-GTZ Microbanking System (also known as MBWin). The activity showed no signs of abating, with a couple of other deals in early 2015. Government-owned Philippine Postal Savings Bank committed to a full roll-out of the ConnectCore core banking system from Indian vendor, Idealinvent. The bank had originally opted to install the loans, general ledger and reporting components of the system, having earlier abandoned attempts to install 3i Infotech’s Kastle Core Banking offering (an aforementioned 2012 selection). It now chose to extend the use of ConnectCore to cover deposits. On the way out is Misys’ Equation, as it is at Development Bank of the Philippines. The bank chose India-based Intellect Design Arena (Polaris as was), with local partner Kaisa Consulting, in Q1 2015. Overall in 2015, 4 deals were awarded. Two were to
Temenos T 24, of which one was implementation for PR savings bank. Calypso got 2 deals and 1 each to Intellect Design (previously known as Polaris Software) for Development bank of Philippines which is a progressive developmental finance institute and 1 to Sage SA for Union Bank of Philippines an universal bank.
Singapore
The relatively small market of Singapore has brought low numbers of mainly treasury and private banking system
136
supplier. Its deals included Nomura in 2009 and Royal Bank of Canada in 2012. It then notably added Deutsche Bank and Maybank in 2014. The deal at Deutsche Bank’s Asset and Wealth Management operation included outsourcing the core banking and business processes in Singapore and Hong Kong to Avaloq’s newly created BPO centre in Singapore.
Also on the private banking side, ERI was selected by
Axis Bank in 2008, and Sage SA’s Prospero was chosen by CIMB-GK Securities in 2011, with another deal in 2012 and then UOB Kay Hian in 2014. For treasury, 2011 saw selections of Misys’ Opics (Bank
of East Asia) and Sungard’s Sierra/Ambit Treasury. Prior to this, FSS’s Spectrum (now part of Wall Street Systems) was chosen at Bank of Singapore in 2010 (the US supplier had also won single deals in Singapore in 2009 and 2008). Murex had a win in 2013. In terms of activity in the large banks, the most notable
episode was DBS’s attempts to implement Infosys’ Finacle. DBS became embroiled in an implementation of Finacle in 2005, to replace FIS’s Systematics in Hong Kong and an old in-house system in Singapore. This did not go well (there was a write-off of $29 million by the bank in Q4 2008 on an un-named ‘technology project’, although some parts of the Finacle project have continued, as part of what is now a phased replacement of the legacy core). The bank had more success with Avaloq for Hong Kong, with the system then applied to Singapore as well. UOB and OCBC have largely in-house systems and,
unusually, the latter used these when it launched its offshoot, Frank, aimed at ‘Gen-Y’ (most such start-ups around the globe are launched on separate systems). OCBC does have CBA’s IBAS for payments and Misys’ Midas, in Singapore and elsewhere. Though a banking market , there were limited deals in 2015 , 1 was for treasury management system and other for CBS. Oracle FSS won the CBS , while FIS got 1 deal for treasury management system.
South Korea
Alongside the well-established local banks, most of which were formed through mergers in the late 1990s (including Woori, Kookmin, Shinhan Hana), the main foreign operators in South Korea, Standard Chartered, Citibank and HSBC, have found things far from easy, particularly on the retail side. Standard Chartered described it as its most difficult
Market Dynamics Report
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