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of Ziraat International Bank, the state-owned Turkish bank, and the roll-out included other Central Asian Republics. The other new customer, Sberbank Kazakhstan, went


to BIS.


And Colvir picked up the only win in 2012 in Kazakhstan, at Delta Bank. In 2013, Colvir was again the main beneficiary, with two


wins. One was at the aforementioned Centercredit, and the other was for a deal across three entities united under one shareholder: Alliance Bank, Temirbank and Forte Bank. Colvir’s CBS was taken to be the group’s standard core solution. Russia-based R-Style Softlab gained one new taker in Kazakhstan in 2013, in the shape of a local subsidiary of National Bank of Pakistan. Colvir also gained more ground in 2014 within existing


user, Halyk Bank, after this bank bought the local operations of HSBC earlier in the year for $175 million. The acquired operations have been kept as a separate entity, branded as Altyn Bank. Late in 2014, Colvir was bidding against Russia- based CFT at medium-sized bank, Housing Construction Savings Bank (Zhilstroysberbank).


Kyrgyzstan, Tajikistan, Turkmenistan,


In Kyrgyzstan in 2011, Zalkar Bank opted for the CFT-Bank system from Russian vendor, CFT. The bank is a restructured and


rebranded by reincarnation of AsiaUniversalBank


(AUB), which went bankrupt and was nationalised in 2010. In early 2011, it embarked on an IT modernisation initiative, spurred


Temenos’ T24, licensed in 2008 by AUB, but concluded that the implementation would be too long


Kyrgyzstan’s central bank. Zalkar evaluated and


resource-


consuming. Another Russian vendor, R-Style Softlab, gained RSK Bank in Kyrgyzstan in 2012. Softclub, a Belarus-based banking software vendor, gained its first core system deal outside its home country in 2011, when the central bank, National Bank of Kyrgyzstan,


signed as part of a modernisation project sponsored by the World Bank. Temenos, Colvir, R-Style Softlab and CFT competed for the business. While unsuccessful here, Colvir had a breakthrough in


October 2014, picking up Bai Tushum Bank in Kyrgyzstan. Bai Tushum was launched as a non-banking entity in 2000, and in 2012 it became the first microfinance player


to receive a full banking licence. Bai Tushum is now the seventh largest bank in Kyrgyzstan, with total assets of $130 million and 32,000 customers. It has a domestic network of seven branches, 45 outlets and eleven representative offices. The bank has partnerships with major international organisations such as International Finance Corporation (IFC), USAID,


European Bank of Reconstruction and


Development (EBRD) and


GIZ. Bai Tushum had


Nucleus’ FinnOne in 2009. Over in Tajikistan, also in 2011, there was a deals


taken for


Russian vendor, R-Style Softlab, at a microfinance entity, Arvand. In 2010 there had been four deals in Tajikistan. One of these was for Infrasoft, the rest for Russian vendors, R-Style Softlab, CFT and BIS. CFT’s only non-Russian win of 2012 was also here, at National Bank of Tajikistan, which signed in December to replace R-Style Softlab’s RS- Bank. However, R-Style Softlab did gain Imon International in Tajikistan during the year as it sought


to move from


microfinance to full retail bank status. During 2013, Orienbank was known to be in selection mode, to replace its R-Style Softlab legacy system and with Misys, Oracle FSS, Softclub and Sopra among those under consideration. The contract seemed to be going the Oracle FSS way, but the two parties could not agree on a deal. However, Oracle FSS did sign another entity in Tajikistan in 2013, Spitamen Capital, which took the Flexcube core and Flexcube Direct Banking. There were two more deals in the country in the course of the year, and both went to CFT for its CFT-Bank offering (a microfinance lender, Humo and Partners, and Kont Investment Bank). Kont Investment Bank initially embarked on a core banking software project in 2012, with an international vendor, but this was shelved quite early on, and the bank went back to market, this time opting for CFT. Oracle FSS picked up another deal in 2014, while National Bank of Tajikistan set off on a World Bank funded overhaul of its market infrastructure


with


a new automated transfer system and central securities depository platform. Turkmenistan provided


four systems,


and another in 2012. The country had no previous record of selecting international


deals for Colvir in 2011 aside from Halkbank


taking Diasoft’s Flextera in 2011, and there have been no known deals


since 2012. Softclub signed Turkmenbashi


Bank (a state-owned bank that supports the country’s industry and retail sectors) and Garagum Bank, for SC-Bank NT, in 2011. SC-Bank NT was also being deployed at


the


Turkmen branch of Bank Saderat Iran (the bank’s subsidiary in Belarus, Honorbank, already ran SC-Bank NT). Completion of these projects was planned before the end of 2012. There was a solitary selection in Uzbekistan, coming in


2010. This was at start-up, Orient Finans Bank, which signed for R-Style Softlab’s RS-Bank. The privately held bank was granted a universal banking licence by the authorities in summer 2010. The bank’s initial focus was on SME financing and retail banking. The vendor’s


first customer in the


country, Hamkorbank, had signed in 2008 and went live in 2010.


Market Dynamics Report www.ibsintelligence.com


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