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Core banking systems country analysis NORTH AMERICA


We deal with the North American banking systems market in two parts. First, we look at the activity on the continent by the non-US suppliers (included in the Sales League Table); second, we do a separate analysis of the retail banking business brought in by the domestic suppliers. But whichever way you look at it, it has been fairly quiet in the last few years, albeit with a little more life each year since 2009.


Independent commentary by country


International suppliers in the US


The US market has slowly started to open up to outside suppliers, with a few banks no longer turning automatically to the well-entrenched domestic players. Our analysis includes outsiders selling


into the US as well as the


relatively few US-derived systems that are also sold on the international stage. In the year 2015, there were 4 US deals by Misys FusionBanking Lending and 1 each of the same supplier’s Opics and sophis products.. Infosys, SAP, TCS, and Temenos also had 1 deal each. The most notable US bank to opt for a non-domestic


system in the last few years has been Utah-based Zions Bancorporation, a large conglomerate of eight banks. It opted for TCS Financial Solutions’ Bancs in 2012. In total, it has a network of around 480 offices across the country’s west and south-west. The banks are Amegy Bank of Texas, California Bank & Trust, National Bank of Arizona, Nevada State Bank, The Commerce Bank of Oregon, The Commerce Bank of Washington, Vectra Bank Colorado and Zions First National Bank (Utah and Idaho). All will implement Bancs, each with its own deployment. There is no doubt the project is in the spotlight and the bank and TCS are no doubt hoping to succeed where other such ones have not. TCS had previously recorded two Bancs deals in 2011 in the US for the niche functionality of securities processing, asset servicing and cash account management. In the hope of gaining more clients in the territory, TCS’s


Bancs is now available on an ASP basis in North America. The vendor announced a partnership in mid-2012 with Savvis, a provider of cloud infrastructure and hosted IT solutions, to target small and medium-sized banks with the full core


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banking suite. The top-tier banking sector is targeted with specific component-based solutions, such as for payments, corporate actions, AML and brokerage. The Zions project is expected to span five to seven


years. The transformation, dubbed Future Core, has been divided into three stages: consumer lending, commercial lending and deposits. By early 2015, the bank claimed to have completed the consumer lending specifications and to be nearing completion of the commercial banking specifications. - TCS reported one more sale in the year 2015, taking the total deals in the last 6 years to a reported total of 8 sales. Infosys was pipped at the post at Zions and came close


to acquiring US core systems vendor, Open Solutions, during 2012 but this did not materialise and this long- standing supplier was bought instead by fellow US vendor, Fiserv (see below). One non-US company that has now gone the acquisition


route in the US is Temenos. In early 2013 it bought Trinovus, an Alabama-based Software-as-a-Service (SaaS) solutions provider, with a workforce of around 50 and a well- established client base of 800+ financial institutions across the US, ranging from small community banks to credit unions and large financial institutions (by early 2014, the customer list surpassed 1000 entities). Trinovus developed compliance software, in addition to offering core processing solutions on its IBM iSeries-based Trinisys core system. The aim was to take the legacy system, ‘renovate it with T24 wrapped around it’, with the real-time, 24x7 SaaS offering available by the end of 2013, according to David Brasfield, CEO of Trinovus. During 2013, Farmers Exchange Bank and Clare Bank became the first Trinovus clients to take T24. Both banks chose the full core banking package, with additional applications such as business intelligence, mobile and


Market Dynamics Report www.ibsintelligence.com


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