This page contains a Flash digital edition of a book.
of plagued Acumen implementations including at Patelco Credit Union, Canada-based Conexus, and Gesa Credit Union.


Another merger in the US core banking space in 2013,


but with fewer complications, was the acquisition of Harland Financial Solutions by Canadian financial technology firm, Davis and Henderson (D+H). The deal cost $1.2 billion and provided D+H with its first core processing offering, Phoenix. In terms of notable sales, in the Fiserv camp, New Jersey-


based Investors Bank, with $12.8 billion in assets, signed for Fiserv’s Signature to replace the Open Solutions-derived TotalPlus for its 100 retail branches in a project scheduled for around 19 months. COCC, the client-owned banking software provider based in Connecticut, signed Workers’ Credit Union in Massachusetts for its outsourced core offering, Insight, a white-labelled version of DNA. The $940 million credit union, with 71,130 members, is replacing FIS’s Miser.


One bank moving away from Fiserv is Casey State Bank


(CSB), with ten branches across Illinois and Indiana and over $250 million in assets. It selected the Nupoint core banking solution from CSI on an outsource basis. This followed another bank, Busey, which implemented the system in late 2012. CSB had been using Precision on an in-house basis for over six years but had become frustrated with this and a combination of other systems. CSI also gained Indiana- based Home Bank, a user of FIS’s Miser, for Nupoint during the year. Fiserv continued to gain sales of the Open Solutions-


derived DNA, some moving from Acumen and other Fiserv platforms. By September, Fiserv announced that it had gained twelve wins for DNA since the takeover, from five banks and seven credit unions. These were Heritage Bank (Washington), Community Bank of Wheaton/Glen Ellyn, Evansville Teachers Federal Credit Union in Indiana, Maine- based First Federal Savings & Loan, First National Community Bank of Dunmore, Pennsylvania, Greater Nevada Credit Union, MidFlorida Credit Union, the aforementioned Navigant Credit Union, NCB FSB in Ohio, Texas-based Randolph-Brooks Federal Credit Union, Vermont Federal Credit Union and Michigan-based Wildfire Credit Union. This didn’t look far off what Open Solutions had been doing under its own steam (albeit, of course, without captive user bases to sell into). By way of comparison, Open Solutions had notched 18 new-name wins in the US in 2012. Elsewhere, $578 million asset Pinnacle Bank in Georgia


opted for Fiserv’s Precision, as did Los Angeles-based GBC International Bank ($456 million) and Virginia-based Bank of Botetourt ($320 million). Also in the packed Fiserv core banking armoury is the Premier platform which was taken by New Jersey-based Kearny Federal Savings Bank, with $3.1 billion in assets, and Alabama-based Southern Independent Bank ($183 million assets).


248


Over at Jack Henry, it won Maine-based Northeast Bank ($720 million in assets) for its Silverlake system, on an outsource basis. Other banks to move to Silverlake during the year included Univest Corporation of Pennsylvania (one of the larger ones, at $2.2 billion in assets); North Carolina- based NewDominion Bank; Georgia-based First National Bank of Coffee County; Athens Federal Community Bank; Washington Trust Bank; Vermont-based Merchants Bank (to replace Signature); and California-based Bank of the Sierra ($1.4 billion in assets). Jack Henry’s lower end Symitar division, with its Episys


platform, gained a fairly good haul which included Kitsap Credit Union, Indiana Members Credit Union, DuPont Community Credit Union, Arizona Federal Credit Union, State Department Federal Credit Union Alexandria, and Quorum Federal Credit Union. As one indicator of what was going on out there in 2013, Jack Henry gained 40 wins for Episys in 2013, compared with 35 in 2012. For Silverlake, it had 22 deals in 2013, compared with 20 in 2012. FIS gained a spate of new takers throughout the year


for its multiple systems including Miser, Bankway, Bankpac and IBS. For the latter, the vendor signed four new takers including Milwaukee-based Guaranty Bank, which chose to replace its legacy set-up in April 2013. The Horizon solution picked up 16 signings. Elsewhere, Systematics, the vendor’s high-end retail offering, gained two new takers including Motor Funding Services in Florida, a new auto finance company. Harland started implementing Phoenix at $200 million


asset Scient Federal Credit Union to replace a six-year-old Ultradata system from the same vendor. A considerably larger bank, Massachusetts-based Country Bank ($1.4 billion) also chose Phoenix. Other takers in 2013 included New Jersey Community Bank, Farmers State Bank of Calhan, Business Allied Financial Services, Brentwood Bank, and Pacific Crest Savings Bank. Vsoft made further progress with Coresoft, beating


heavyweights, Fiserv and Harland, to a deal at Midwest Business Solutions (MBS), a US-based credit union service organisation


focused on providing underwriting and


portfolio management services for commercial and agricultural loans. Vsoft is starting to eye non-US markets for Coresoft, as reflected in a partnership signed in November 2013 with McEnearney Business Machines, for Trinidad & Tobago. Credit union-focused Corelation made good progress, building on its early implementations of Keystone. Among those to sign in 2013 were California-based Sun Community FCU ($300 million in assets, 45,000 members), Detroit- based Communicating Arts Credit Union (assets of $32 million, 8120 members), California-based South Western FCU (assets of $135 million, 11,715 members), SPCO Texas ($37 million in assets, 5138 members), which became the fifth on the Wescom Resources Group service bureau, and


Market Dynamics Report www.ibsintelligence.com


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