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traction to the state of the market in Australia, characterised by multiple M&As and ‘a lot of caution over new investments’. There were over eight core system selections in Australia in 2010, he said, but following changes in management and/ or priorities and mergers, only one was actually completed. The latter was a reference to Credit Union Australia, although even this contract was not signed until early 2011, with this coming down in favour of TCS and its Bancs system. Rubik was not included in the selection here, he added, as the credit union wanted a system on IBM zSeries. Credit Union Australia has 75 branches across the country and was known to have shortlisted five vendors. The two that it looked most closely at were Infosys and TCS. In 2012, aside from ME Bank signing with Temenos,
there was a private banking win for Westpac’s BT Financial Group for Avaloq (it went live with a first phase in mid- 2014), Calypso won an order from the Australian Securities Exchange, Oracle FSS had a corporate banking-oriented deal from a large bank that was off-the-record, and TCS brought in Tasmania-based Mystate, a broad institution with around 120,000 customers (the latter went live in November 2013). Misys added a deal for Loan IQ from ANZ in 2013, giving it the full set of large Australian banks for this syndicated lending system. During the year, Macquarie Bank was believed to be pondering a core banking system upgrade, with Temenos’ T24 as a possibility. In the end, notably, it went with SAP (a combination of Loans Management and Deposits Management) and embarked on a multi-year project, following where others had led. Accenture was the delivery partner. By early 2015, Macquarie had reached the first milestone
of this five-year, AU$250 million transformation project. It was in an internal pilot stage for the first component of the project to support the bank’s new business line – transaction accounts – before a full launch later in the year. In the later phases, the existing products across the entire loan and deposit portfolios will be moved onto the SAP system, as well as nearly one million clients. Rubik gained a long-awaited new client in 2013, Uniting
Financial Services (UFS) and this went live with the hosted version of T24 later in the year. As at Macquarie, 2014 was mainly a year in which the
big projects rumbled on. New selections were limited to a deal for Sungard with Ambit Treasury Management. At a bank-wide level, this country’s move to real-time payments with its New Payments Platform will command considerable focus in the next couple of years. At NAB, in mid-2014, the bank announced its first upgrade to OBP, which was in the area of direct banking. In 2015; there were 3 deals awarded, Infosys and Open link software won 1 deal each. Suncorp- Metway Limited awarded the CBS contract to Oracle FSS
while Assurance Financial Group Pty Ltd signed up with Sage SA.
New Zealand
In New Zealand, one bank that had been undertaking a core systems implementation was Kiwibank, having signed with Infosys for Finacle in 2008. During 2009, Ultradata announced that Kiwibank, an existing customer, had re-committed to its Ultracs core system. This coincided with rumours that the bank’s implementation of Finacle had failed. Infosys declined to comment, but Ultradata’s statement seemed to support the speculation. Other selections have been few and far between, with
a few to small Australasian supplier, NTBS, the solitary win for Probanx, and ASB Bank signing for Calypso. TwoFour Systems gained OM Financial in New Zealand in 2013, mirroring a foothold it gained in Australia in the same year, at Axi Corp. On the core banking side in New Zealand, things looked as though they might become more interesting. During 2013, Kiwibank was looking again to replace Ultracs. The bank said in a statement to IBS that it was ‘involved in a project that will involve substantial investment in IT technology to meet the bank’s needs for the next decade’. It duly came to pass that, towards the end of the year, Kiwibank selected SAP’s Deposits Management. The bank pledged NZ$100 million (approximately US$83 million) to the multi-year core banking system replacement project and initially provisioned a three to four-year timeframe for the roll-out. BNZ was also thought to be on the search for a new
core system during the year. It described this to IBS as ‘one of the most major projects ever undertaken at BNZ’. Local media reported that executives from the bank had said that a three-to-five year project to replace its core system had already commenced. The only selection that was finalised in 2014 was from a specialist domestic bank, taking Flexcube. There was activity within the ongoing projects, of course, and Westpac NZ set about moving its IT infrastructure to the cloud, following where ING Direct in Australia was also heading. Westpac will use IBM’s private cloud. The Reserve Bank has also started a major replacement of the country’s RTGS infrastructure. There was only 1 deal awarded in 2015, New Zealand Association of Credit Unions awarded CBS implementation to Oracle FSS‘s flexcube.
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