clearly SAP, with both core banking and lending systems. There are other mid-tier suppliers, including FIS, which has the domestic Kordoba system within its suite. The main outside supplier to make headway has been I-flex/Oracle FSS.
There is also a small remaining user base of a system
called Paba/Q, from a domestic supplier, Actis, which was acquired by Temenos in 2007. Virtually none of the Paba/Q users have tried to move to T24. On the T24 failed projects list are Baader Bank, Ready Bank and Honda Bank. Another player, EIHBank, was struggling, but then anyway had its assets frozen (it is Iranian). The first Paba/Q customer to finally sign for T24, four years after the takeover, was Maple Bank, a European investment and wholesale banking subsidiary of Canada-based Maple Financial Group. This project, however, also resulted in nothing (see below). By the time of the deal, Temenos claimed to have
invested a lot in developing T24 German Banking System (GBS) and had 100+ Germany-based resources to cater for the local market (plus Austria and the German-speaking part of Switzerland). Aside from the Paba/Q base, LBBW took T24 in early 2010 for lending but appeared to then give up (the bank was rumoured to be considering moving instead to one of the domestic service bureau, Finanz Informatik). In terms of service bureaux, of which Germany has a
number, these can constitute potential customers when they come to replace some or all of their systems. Some of the underlying platforms are old and high-cost (Finanz Informatik, itself, has large IBM zSeries mainframes to run 150 savings banks and a number of landesbanks). Oracle FSS saw a cut-over in 2009 at HBOS’s start-up
operation, with Flexcube supported by local bureau, IZB. The HBOS selection had been made in 2008, with IZB taking Flexcube the previous year. However, there were no additional Flexcube takers in Germany in 2009 or 2010. One of Temenos’ previous German failures, Baader Bank, took the safer option of OBS from Die Software Peter Fitzon in 2010. Another, Honda Bank, went for a local offering from COR&FJA, an established domestic supplier (now owned by Sopra, see below). Switzerland-based private banking system supplier,
Avaloq, has been making good progress in Germany. In 2010 it gained a sale at Frankfurter Bankgesellschaft. It then established a joint venture in early 2013 with Quirin Bank, resulting in the formation of a new company, Avaloq Sourcing. This offers the Avaloq Banking System (ABS) to German clients on a BPO basis, with Quirin Bank hosting the system. Prior to this, Avaloq acquired a German technology firm, Höll Computer and Software, in late 2012. Avaloq is basically using the clients of Höll’s flagship core banking product, Itrexs, as the first takers of the hosted platform in Germany. Höll is now under the Avaloq umbrella as Avaloq Software Germany. Quirin Bank itself was a long-standing user of Itrexs and currently offers it on a hosted basis to four institutions in Germany, comprising V-Bank, the German
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subsidiaries of Vontobel and Julius Baer, and Tradegate Exchange. All clients will be migrated to the Avaloq platform in the first phase of the new venture, with Avaloq planning to start moving the first Itrexs client in Q3 2014, and hoping to complete the process by the end of that year. A third vendor going the acquisition route in Germany
(following on from Temenos and Avaloq), was Sopra. In November 2013 the France-based company acquired the banking operation of the aforementioned COR&FJA for €13 million. The transaction included around 100 staff and a clutch of German bank clients including Honda Bank (as stated), Deutsche Hypothekenbank, BMW Bank and Bankhaus Neelmeyer AG. The banks are users of the Corbas core banking solution, which is offered to mortgage takers and private banks. The operation also has solutions for payments, risk management and tax calculation. The suite is offered on a hosted basis or as an onsite deployment. German Sopra customers are few, and mostly country operations of customers that are based elsewhere, such as Rabobank (for the Callataÿ & Wouters-derived Thaler) and Attijariwafa Bank (for the Delta Informatique-derived Delta-Bank). However, it did gain a flagship live site in early 2014, at Stuttgart-based Mercedes Benz Bank. The bank implemented the Thaler core system (now Sopra Banking Platform).
Not long before Sopra’s move, there was another French
acquisition in Germany, this time on the lending and leasing systems side, when Cassiopae acquired long-standing Germany-based leasing systems specialist, Singhammer dtSoftware GmbH. This was the latest in a succession of acquisitions by the French company and increased its presence in German-speaking Europe. Singhammer dtSoftware was the leasing software unit of the larger Singhammer group and had been around for 30 years. It had 25 staff and 30 or so clients, with the majority in Austria and Germany but with sites as well in Switzerland, Czech Republic, Slovakia and Hungary. Cassiopae said it would no longer sell the Singhammer Leasysoft suite but nor would it force users to migrate. On the treasury and capital markets side, in 2011
Murex had success at Rentenbank, which serves as a financial institution for agriculture and the food industry. Misys’ Summit had single deals in 2011 and 2012, both in Germany. The aforementioned Maple Bank featured with Bankfusion in 2013 (the T24 roll-out was abandoned), being the first signing for what Misys was touting as the Global Back Office, a major component of its newly-launched Capital Markets Fusion offering. Global Back Office offers centralisation, consolidation and streamlining of all back office processes of a financial institution, across multiple asset classes, locations and trading systems. At the heart of the platform is Summit, and Maple Bank, which already used Misys’ Reuters-derived Kondor+, signed as the pilot. Given the only new-name deals in 2013 in Germany were this one, two for SAP’s Loans Management and Piraeus
Market Dynamics Report
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