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Of the top ten Brazilian banks by total assets, three are


government-owned (Banco do Brasil, Caixa Economica Federal (CEF), and the country’s development bank, BNDES); five are domestic non-government owned (Bradesco, Itau- Unibanco, Banco Santander Brasil, Safra, and Votorantim); and two are foreign (HSBC and Citibank). The top four publicly listed banks are Banco do Brasil, Itau-Unibanco, Bradesco, and Banco Santander Brasil. This is one country where SAP has made headway and,


indeed, it views it as one of its strategic targets. It gained its first deals here in 2011, from Banco Intermedium and Banco Regional de Desenvolvimento, and Caixa Economica Federal in 2012, followed by an off-the-record deal in 2014. All were for the supplier’s core banking system, Deposits Management. In mid-2013, Falk Rieker, global IBU head for banking at


SAP, said the supplier was putting in a ‘massive investment in localism’ in Brazil. He also claimed SAP had recently won a first deal from a ‘major financial services institution’ here. ‘You won’t win a deal [in Brazil] without localising, because the regulator won’t allow it,’ he said. He viewed the market as comprising a handful of large banks and a ‘huge variety’ of regional banks below these. Of other outsiders, Temenos and Oracle FSS have made


a little progess, the former at Banco Itaú for commercial/ wholesale banking in 2001, and Votorantim in 2007, albeit for offshore wealth management. Oracle FSS’s couple of wins have been similarly spaced out, with Brasilian American Merchant Bank (BAMB) in 2008 (but for the Cayman Islands) and Banco Bradesco Group in 2011. The two Uruguay-based suppliers, Bantotal and Top


Systems, both picked up single deals in 2012, the latter at Banco de Estado do Para (Banpara). Top Systems might have been aided by the fact that, while Uruguay-based, it has had a Brazilian parent since 2012, Stefanini Group. Miami-based Technisys gained a breakthrough in the


Brazilian market waters by signing Original Bank in late 2013 for the Cyberbank Core and Cyberbank Omnichannel systems. Original Bank is a private banking subsidiary of J&F, one of the biggest enterprise groups in Brazil, and set about replacing a host of in-house grown and locally-developed modules. Brazil has also seen the occasional treasury systems


selection, with Calypso gaining a couple of these in 2011, one of which was the stock exchange, BM&FBovespa, and Murex picking up a notable deal at Itau. The latter was front- to-back office across pricing, risk, P&L, commodities, FX, interest rate products, equities and equity derivatives, and futures and options. In this space, Openlink had a success in 2014.


Chile


Chile has seen some activity in the last few years. It was relatively resilient when the economic crisis hit and the


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economy has continued to grow. Santander Chile is the largest bank by assets. The fifth largest bank, Corpbanca, looked to be particularly ambitious, as reflected in its investments in the last few years in Colombia (see below) but there was speculation in late 2013 that it might be bought, with this duly coming to pass, so that it is now owned by Banco Itau. There are some old sites for Accenture’s Alnova (including Santander and Banco Itau). The biggest regional deal in recent years, valued at $140 million, had a Chilean aspect to it. It came back in 2006, from Ecuador’s largest private bank, Banco Pichincha. The bank used a Chile-based BPO firm, Comicrom, to run its operations in Chile and Peru; Comicrom was bought by TCS in late 2005, bringing 1300 staff and 100 clients. Within a five-year contract, the bank signed with TCS to support its Ecuador, Chile and Peru businesses on the Bancs system, hosted by Comicrom. Those 1300 staff were in addition to TCS’s own 1400 staff in Ecuador. The bank considered local suppliers, Sonda and Datapro, as well as international suppliers. It had previously sought to implement a system from Sema Group called Siglo21, which had come out of Caja de Madrid. An interesting footnote is that despite that presence,


and plenty of services-related business, TCS had a universal banking deal with a bank in Chile in 2008 and another at asset management company, LarrainVial, in 2007 but did not have a single new core system win in Central and South America in 2009. SAP had a win for Deposits Management and Loans


Management in 2009 at Caja de Compensación La Araucana, a large insurance company which had taken the supplier’s ERP system the previous year and now added its banking and lending systems, plus collateral management system. Polaris had a win for its Intellect Suite from a top five bank. The deals in Chile in 2010 were for Calypso, its first in the


country, at Banco de Crédito e Inversiones, and Temenos with T24 at LarrainVial, where TCS appeared to be no longer involved. 2011 was quiet in Chile, limited to a single win for Miami-


based Latin American specialist, Datapro, at Coopeuch (Cooperativa del Personal de la Universidad de Chile), Chile’s largest savings and loans co-operative. Coopeuch went live in the second half of 2013. As in Colombia (see below), it is Oracle FSS that seems to


have built on its earlier projects. It had a 2008 win at Banco Bice and gained the nod in two more selections in 2012. These were the only known selections in the country in this year, apart from one win for Bantotal, at an international bank, and another treasury success for Calypso, at Banco Penta, plus a breakthrough for Technisys. The latter was selected for a major core banking implementation at BancoEstado, in competition with Oracle FSS. The cutover was scheduled for late 2014. Calypso looks the clear market leader in the treasury space and in 2013 secured a deal with Comder, a new


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