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up to sell the Dotin Core Banking system locally and abroad. In Iran, the system’s users include Bank Tose’e Ta’avon, Bank Day, Resalat Bank and Tourism Bank.


Iraq


The on-off rebuild of the financial sector in Iraq has brought clutches of deals for a number of suppliers. The Central Bank of Iraq approved 35 new licences in early 2008, to add to an existing 30 or so banks. Much of the focus was on gaining local and foreign investors. There was a period of grace but, ultimately, each bank would need assets of at least $40 million. There is some foreign ownership, with HSBC and National Bank of Kuwait among those to have majority stakes in local banks, but the parentage was not widely promoted in Iraq itself due to security fears. The existing private banks each had between two and 30 branches but most had ambitions to extend their reach across the entire country. Logistical and financial help had come from the USAid organisation, while the Central Bank had been providing a lot of training. The stated aim was for every Iraqi citizen to have a bank account and credit card, with internet access for the former. 2010 was something of a peak in terms of core banking


system sales, with nine selections. Either side of this, there were four deals in 2008, five in 2009, three in each of 2011 and 2012, and a couple in 2013. Much of the business has been with regional suppliers and, understandably given the different challenges, has seen the core systems hosted outside the country (Lebanon has been a common choice). In 2009, there had been two wins for BML (13-branch


Mosul Bank and 54-branch Minare Bank, which operates in the Kurdish region and was created by pooling the branches in this region of Rafidain and Rasheed Bank) and one each for Path Solutions, ICSFS and Misys. That peak of 2010 saw ICSFS, BML, Path and Temenos


all add two more each, while Capital Banking Solutions picked up Babylon Bank. Five of these deals had an Islamic banking requirement. A few of the banks were small players before the war but most emerged as a result of regulatory approval in the last few years. One of ICSFS’s wins was Bank of Baghdad, part of Burgan Bank, with the system residing in Amman. In 2011, one of the deals was for Misys’ Bankfusion


Universal Banking (Parsian Bank), one was for ICSFS’s ICS Banks (Al Baraka Turk Participation Bank) and one was for Oracle FSS (Al-Bilad Islamic Bank for Investment and Finance). Parsian Bank’s parent is an Iranian private bank, and Al Baraka Turk Participation Bank has Turkish origins. Previous winners in Iraq, such as Temenos, Path Solutions and BML, drew a blank. In 2012, Misys had another Bankfusion win, at Rafidain


Bank, ICSFS gained another selection, and Path Solutions won Bank Asya. Rafidain is Iraq’s largest financial institution and had already been familiar with Misys and its older


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products, Bankmaster (core banking) and Branchpower (branch automation system), prior to signing for Bankfusion. The start of the collaboration dated back to 2007, when a consortium of UK-based B-Plan Information Systems and Misys was selected by Rafidain to overhaul its technology. Bank Asya in Iraq was a greenfield subsidiary of Turkey- based Bank Asya. The couple of wins in 2013 went to Capital Banking


(Sumer Commercial Bank) and ICSFS (Trans Iraq Bank). The former is a private bank that has been around since 1999 and now has seven branches in Baghdad and three elsewhere. Trans Iraq is smaller and newer, again privately owned. Temenos had the only deal on offer in 2014. There are now seven state banks, of which Rasheed Bank is the second largest, after Rafidain. There are 23 private banks, nine Islamic banks, 16 foreign banks (Turkish and Lebanese banks feature strongly, although Standard Chartered was a notable arrival in late 2013) and various remittances and other non-bank institutions. In 2015 Bank Al-Janoub and Mansour Bank for InvestmentMansour Bank for Investment awarded contract to ICSFS for the banking system.


Israel


The Israeli banks have been traditional users of packages outside the country but have been heavily in-house reliant at home, typically with IBM mainframe-based legacy applications. In 2006, First International Bank of Israel (FIBI) selected


SAP’s Loans Management for its consumer mortgage business. The deal was won via SAP’s Israeli distributor, Ness Technologies. The bank already used a number of SAP applications. Ness was involved in other SAP projects at the bank and had won a deal in 2005 at Bank Hapoalim for SAP’s ERP offering. Another SAP ERP user in the country is Mizrahi Bank, which went live in 2004. In terms of large banks with core package systems, it


is necessary to go back to Israel Discount Bank signing in 2001 for Accenture’s Alnova to replace CSC’s Systematics. In April 2004, a local paper, Yediot Aharanot, reported that: ‘The project will be extended one and a half years over the original schedule and will require an additional $40 million over the original $115 million’. A source at the bank told IBS that the Alnova ‘framework’ had gone live but admitted that the project as a whole was running late. Bank of Israel, the country’s central bank, was


understood to be in an advanced stage of a core banking system tender in late 2013. The main contenders were believed to be Temenos with T24 and Sopra Banking Software with its Thaler/Sopra Banking Platform. In 2009, the bank had signed for Wall Street Systems’ Trema-derived Wallstreet Suite. In 2012, Calypso had a win at the country’s oldest bank, Bank Leumi. There has been a handful of other treasury system win in Israel over the years.


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