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users and was the largest within Hypo Alpe-Adria to move to the system to date, in terms of transaction volumes. As mentioned, ZIS was acquired by HP during 2014. Polish supplier, Asseco, is the main incumbent, having


bought two domestic suppliers, Pexim and Antegra. In February 2008, Asseco acquired a 60 per cent stake in Pexim, followed by a 70 per cent share of Antegra, which had been Pexim’s largest domestic rival. Antegra’s Serbian clients included Raiffeisen Bank, Volksbank (now Sberbank Europe), Alpha Bank and Piraeus Bank. Antegra had also picked up its first client in Bosnia and Herzegovina in 2009, at Vakufska Bank. The two Serbian vendors were increasingly co-


operating. A joint project had been undertaken at Bank of Moscow (now VTB Bank Belgrade), which entered Serbia in 2009. At this greenfield site, Antegra’s BI core system (now rebranded as bApO) was fitted with infrastructure provided by Pexim. Earlier, the two vendors had agreed that a direct debit module developed in 2008 by Antegra would be sold by Pexim as well. The two firms’ combined share of the core system


market in Serbia was claimed to be around 80 per cent. They nevertheless continued to operate in parallel in the short term, with Antegra’s clients having been guaranteed business as usual following the Asseco purchase. Pexim had a particularly strong market position in Serbia


and a client base of around 40 banks. One notable success for Pexim with its PUB 2000 system had come in mid-2007 at Komercijalna Bank Belgrade, the biggest bank in Serbia with over 3000 staff. Komercijalna group already used the system in Bosnia, Montenegro, and Macedonia. Two deals in 2010 were for the Pexim-derived Experience.


The other two deals were for the Antegra-derived BI/bApO. Serbia produced one deal in 2012 for Asseco, from Credy Banka (PUB 2000 and some components of Experience), and two in 2014, also for PUB 2000.


Slovakia


There are 27 financial companies with banking licences to operate on the Slovak market. Once more, this is a country dominated by international bank ownership (Erste, Intesa Sanpaolo, KBC, Raiffeisen, Unicredit), holding more than 90 per cent of Slovak banking assets. In 2011, the largest commercial bank in the country,


the Erste-owned Slovenska Sporitelna, finally set about replacing a system that had been built by a 120 person Slovakian software house, AssetSoft, subsequently acquired by the bank. This company was originally spun out of the Slovakian Post Bank. In its place, Erste Bank has been seeking to apply Sungard’s Ambit Core Banking (originally Symbols from Singapore-based System Access). Such a move had originally been touted for 2002. A new direct bank, Zuno Bank, went live with Infosys’


Finacle in 2010, the first site in what was meant to be a wider roll-out in the parent Raiffeisen group. The bank


caters for the retail, consumer-oriented market, and offers products such as current, savings and deposits accounts, payments and loans (including personal loans, refinancing and overdraft). It opted for the IND online banking platform, from Hungarian channel software provider, IND Group (now part of Misys), in front of Finacle. Oracle FSS’s Flexcube has a live site through a roll-out by


AXA Bank. Prior to this, Thomson Reuters had signed Dexia’s Slovakian subsidiary for K+TP in 2007 (the business now resides with Misys). The year before, SAP gained a Loans Management /Deposits deal with National Bank of Slovakia, the country’s central bank.


Slovenia


This is a rather troubled country at present, in terms of its banking sector. The three state-owned banks, Nova Ljubljanska Banka, Nova KBM, and Abanka Vipa, account for nearly two-thirds of the country’s banking assets. Two privately-held banks, Probanka and Factor Banka, with about €2 billion in assets, or four per cent of the market, were liquidated in September 2013. The European Commission has urged Slovenia to clean up its banking sector and sell state-held assets. The government is planning to launch tenders for some 15 state enterprises, including Nova KBM. In December 2013, the government announced it would inject €3 billion into the country’s three largest banks to help cover a €4.8 billion capital shortfall in the financial sector. The largest bank, Nova Ljubljanska Banka, is a long- standing user of TCS’s Bancs. Nova KBM, the 40-branch second largest bank in Slovenia, was seeking a new core banking system during 2011, opting for Infosys’ Finacle, but the project did not seem to get off the ground because of the uncertain state of the sector. During 2013, Poštna banka Slovenije (PBS), a Slovenia-


based universal bank, went live with a new Java-based core system for its retail banking business. The system, jOmega, was developed at the bank by a local supplier, Gora, which plans to market the system abroad. PBS, which is jointly owned by Nova KBM and the country’s post office, uses the latter’s 550 outlets to offer services to personal banking and corporate customers. PBS was previously a user of an older offering from Gora, known as Omega.


Ukraine


The country’s banks were hard hit by the 2008 crisis, with the government having to prop up several of them. There was then economic contraction and, towards the end of 2013 and into 2014, considerable political upheaval, as the government sought to align the ex-Soviet State with Russia, rather than the EU, setting off a string of events culminating in Russian intervention. Foreign banks have less of a stranglehold here than in


many other countries in the region, with assets of somewhat less than 50 per cent. There are around 175 financial


Market Dynamics Report www.ibsintelligence.com 167


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