This page contains a Flash digital edition of a book.
g


nearly all going to domestic or regional suppliers. Top Systems won the two deals on offer in 2012, at


Caja Centro and Caja Nuestro Señor de Luren. These were the Uruguay-based supplier’s third and fourth takers in the country. The previous year it had won Proempresa, a microfinance institution, following a contract with Edyficar in 2007. Edyficar went live on Topaz Banking in 2009. Bantotal has been busy at Financiera Confianza and


Caja Nuestra Gente, both owned by BBVA Microfinance Foundation.


These entities have merged to create


Banconfianza, with Bantotal as its core platform. Bantotal also has Edpyme Raíz, also a microfinance institution, as a relatively recent user, and has longer-standing live sites in the country at Financiera Crediscotia (a 2009 deal) and Mibanco. Of international suppliers, SAP had a Deposits


Management win back in 2007, at Corporacion Financiera de Desarrollo. However, unlike in other Latin American countries, SAP has not added to this. Calypso is the only treasury and capital markets system


supplier to make progress in the last few years, with a 2011 win at Banco de Crédito (it remains Calypso’s only site in the country), although FSS (now Wall Street Systems) gained BBVA the previous year. A key domestic supplier, particularly among the smaller


banks, is Lima-based Bluepoint Technologies, which was set up in 2004 under the umbrella of Universal Software House, a long-standing player in the region. Its core back office solution, Siaf, had been deployed in 50 Latin American financial institutions in the previous 25 years. A notable deal in Q4 2013 saw state-owned bank, Banco de la Nación take the Abside core banking system of Spain- based Nessa GBS. This was the first known win for the system outside of Spain since it was launched in 2011. Nessa GBS is an offshoot of Rural Servicios Informaticos (RSI), the captive core banking system provider of Grupo Caja Rural in Spain, which is where the mainframe-based Abside system orginates. The project at Banco de la Nación has a reference value of $28 million and an expected length of 51 months. Temenos’ seldom seen high-end retail banking platform, TCB, has the same roots as Nessa GBS and is now positioned as a platform for banks to build their own solutions. The supplier claimed Banco de la Nación as a client in 2014.


Puerto Rico


A number of foreign banks have packages for their Puerto Rican operations, such as Bancolombia with Infosys’ Finacle. BBVA uses Top Systems’ Topaz in its MFI operations here but sold its main banking business in June 2012 to Oriental Financial Group for $500 million. Cobiscorp and Datapro also have sites, with the latter adding another three – notably – in 2014. Prior to this, FIS signed a seven-year agreement in March 2013 to take over the IT operations of one of the


Puerto Rican banks, FirstBank. There was already an 18-year partnership between the supplier and bank; the extended agreement took in hardware and software upgrades, application management, operations personnel, help desk and desktop service. There was a deal for Fiserv in late 2013/early 2014 from


USICOOP, a new entity set up by four cooperative banks to provide IT support. This was for the Open Solutions-derived DNA system (Fiserv acquired Open Solutions at the start of 2013). The cooperatives had a combined membership of more than 100,000 and assets of nearly $1 billion. There are 125 cooperatives in total, alongside eight banks, accounting for around six per cent of bank assets. Low-end, Cyprus-based Probanx has a win in 2014


at Global Clear Financial Enterprise, a provider of global advisory, asset management, banking, brokerage, custodial, depository, financial and clearing services. Go-live took place in July. The banking sector in Puerto Rico is not viewed in a


good light by Moody’s, due to long-running (since 2006) economic problems, with a resultant fall in population and increase in unemployment and poverty. At the end of 2013, it had negative ratings for Popular (the island’s largest bank), FirstBank and Doral Financial, plus Santander’s operation. There have been several bank failures and consolidation during the current crisis. In 2010, in one fell- swoop, Eurobank, R-G Premier Bank of Puerto Rico and Westernbank Puerto Rico were sold to Oriental, Scotiabank and Banco Popular, respectively.


Uruguay


Perhaps not surprisingly, the deals in the last few years in Uruguay have gone to regional player, Datapro and the Uruguay-based duo of Top Systems (most recently Procapital in 2011) and DL&A/Bantotal. Indeed, none of the mainstream international suppliers have a presence of note in the country (the 2012 multisite deal for SAP at Itau- Unibanco was intended to include this bank’s operation in Uruguary). Bantotal got one over on its


rival following BBVA’s


acquisition of Crédit Agricole’s subsidiary in the country in 2010. Crédit Agricole was a user of Top Systems’ Topaz Banking but the bank decided to standardise on Bantotal, which was already in place at BBVA. This project was completed in the first half of 2011. At the same time, BBVA seemed to share its favours


around, as the previous year BBVA Foundation had opted for Topaz for the microfinance organisations affiliated to the foundation, which is the corporate social responsibility arm of the Spain-based bank. The foundation was working to set up a global network of microfinance institutions, starting in Latin America in Argentina, Chile, Colombia, Peru and Puerto Rico. Topaz Banking also went live in 2010 at Nuevo Banco Comercial, a retail bank in Uruguay.


Market Dynamics Report www.ibsintelligence.com 183


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172  |  Page 173  |  Page 174  |  Page 175  |  Page 176  |  Page 177  |  Page 178  |  Page 179  |  Page 180  |  Page 181  |  Page 182  |  Page 183  |  Page 184  |  Page 185  |  Page 186  |  Page 187  |  Page 188  |  Page 189  |  Page 190  |  Page 191  |  Page 192  |  Page 193  |  Page 194  |  Page 195  |  Page 196  |  Page 197  |  Page 198  |  Page 199  |  Page 200  |  Page 201  |  Page 202  |  Page 203  |  Page 204  |  Page 205  |  Page 206  |  Page 207  |  Page 208  |  Page 209  |  Page 210  |  Page 211  |  Page 212  |  Page 213  |  Page 214  |  Page 215  |  Page 216  |  Page 217  |  Page 218  |  Page 219  |  Page 220  |  Page 221  |  Page 222  |  Page 223  |  Page 224  |  Page 225  |  Page 226  |  Page 227  |  Page 228  |  Page 229  |  Page 230  |  Page 231  |  Page 232  |  Page 233  |  Page 234  |  Page 235  |  Page 236  |  Page 237  |  Page 238  |  Page 239  |  Page 240  |  Page 241  |  Page 242  |  Page 243  |  Page 244  |  Page 245  |  Page 246  |  Page 247  |  Page 248  |  Page 249  |  Page 250  |  Page 251  |  Page 252  |  Page 253  |  Page 254  |  Page 255  |  Page 256  |  Page 257  |  Page 258  |  Page 259  |  Page 260  |  Page 261  |  Page 262  |  Page 263  |  Page 264  |  Page 265  |  Page 266  |  Page 267  |  Page 268  |  Page 269  |  Page 270  |  Page 271  |  Page 272  |  Page 273  |  Page 274  |  Page 275  |  Page 276  |  Page 277  |  Page 278  |  Page 279  |  Page 280  |  Page 281  |  Page 282  |  Page 283  |  Page 284  |  Page 285  |  Page 286  |  Page 287  |  Page 288  |  Page 289  |  Page 290  |  Page 291  |  Page 292  |  Page 293  |  Page 294