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a lead; with 3 deals in Myanmar for the Finacle core banking product. In the Maldives, Path Solutions gained Maldives Islamic Bank in 2010 and this start-up went live with a first phase in March 2011. One of the largest banks, Bank of Maldives, then selected Temenos’ T24 in 2013, with go-live scheduled for Q1 2014. It had 235,000 customers and 25 branches. It was a long-standing client of Misys’ Equation and Trade Innovation trade finance software. Oracle FSS won single deals for Flexcube in Bhutan in 2008 (the largest bank in the country, Bank of Bhutan) and 2009 (T Bank, which went


live in 2013). However, during


2013, Bank of Bhutan sought a mobile payments solution for its network of 28 branches and twelve e-branches and, by early 2015, was finalising a request for expressions of interest (EOI) as it looked to replace Flexcube.; it finally selected TCS Banc product as its Core banking system. Oracle claims Bhutan National Bank (a 2003 convert


from the vendor’s legacy system, Microbanker, which stemmed from I-flex) as another user in Bhutan. Druk PNB Bank, another domestic commercial bank, is on the Infosys Finacle user list, having selected the system in 2009.


Nepal The banking sector


and has some structural weaknesses. In June 2013, the World Bank approved


in Nepal is relatively undeveloped a


$30 million credit


Development Bank, one of the largest in the country, went live with T24 in a first phase in 2011, followed by a phased roll-out to its 243 branches. The only other supplier to gain a look-in in 2009 was Neptune, at International Leasing and Finance Corporation. One other supplier that has had success in the last few


years was ERI for its Olympic system in 2011 at the central bank, Nepal Rastra Bank. Cutover came here in the first half of 2013. Trust Systems & Software, beaten at Laxmi Bank in 2013,


had success elsewhere the year before when start-up, Sajha Development Bank, became customer number three in the country for the Indian supplier (Mission Development Bank and Sewa Bikas Bank being the others). For this deal, the vendor was chosen ahead of domestic rival, Mercantile and its Pumori banking software, Neptune with Rubikon and Polaris’ Intellect core offering (derived from the acquisition of India-based Laser Soft in 2009). While there were no decisions in Nepal in 2014, there


was plenty of selection activity, with much of this expected to result in deals in 2015. By early 2015, government- owned Nepal Bank Limited had assessed the responses to an extensive expression of interest (EOI) document and had moved to the RFP stage, with this expected to go to Temenos, Infosys and ERI. Another Nepal-based entity, Prabhu Bank, was also


to help


Nepal accelerate its financial sector reform programme to reduce the vulnerability of the banking sector and increase its transparency. One measure was expected to be the restructuring of the long-standing and largest bank in the country, Nepal Bank. In total, there are 32 commercial banks, 85+ development banks, 75 or so financial companies, 20 or so MFIs and around 15 saving and credit co-operatives. They have tended to rely on packages, with locally developed offerings at the lower end but more mainstream packages for the larger banks. While clearly a setback for Oracle FSS, this supplier has


a reasonable base in the country and has added to it in the last few years. In 2010 it won Mega Bank, one of four selections in a relatively busy year in Nepal. The others went


to Temenos, Neptune and Polaris, at Civil Bank,


Infrastructure Development Bank, and Social Development Bank, respectively. Civil Bank, a start-up, went live on T24 in 2011.


2009 had been busy as well, with Oracle FSS and Temenos


sharing two wins each (Janata Bank and Siddhartha Bank for the former, Agricultural Development Bank versus Silverlake, and Sunrise Bank for the latter). Agricultural


expected to go to market for a new system. The bank is the result of a 2014 merger of four financial institutions: Kist Bank, Prabhu Bikas Bank, Gaurishankar Development Bank and Zenith Finance Company Limited. Prabhu Bank is listed on Nepal Stock Exchange, has 90 branches countrywide and 650,000 customers. It has inherited a hotchpotch of local legacy systems, which it intends to replace with a centralised, modern core platform, according to a source on the ground. Meanwhile, Lumbini


Bank and Citizens Bank


International were yet to reach a decision on their respective core software renovation projects. The two banks initiated their system selections during 2014. Laxmi Bank was a notable signing in 2013 for Infosys.


The bank was a long-standing user of Oracle FSS’s Flexcube, but plans to replace it.


Infosys fended off competition


from Temenos with T24 and Trust Systems & Software with Trustbank. Infosys had not featured in selections in the country for a few years but Finacle is used at Everest Bank (a selection in 2007) and Nepal Investment Bank (2008). However, it was Infosys; who enhanced the lead in 2015 with 3 wins for Finacle Core Banking Implementation in 2015.


Market Dynamics Report www.ibsintelligence.com


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