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Core Banking System Sales by % by month in 2012


2013 analysis It also looked as though banks might still be too


In fact, the hopes were not realised. Putting things into perspective, the additional slump that was evident in 2013 meant that the number of sales for the core systems covered by the Sales League Table had more than halved since 2008. That 2013 drop came despite signs of economic growth, which rather threw into question earlier conclusions about a correlation between the two. Clearly, they cannot be separated but growing confidence around the globe was not yet, at least, culminating in a pick-up in system replacements. There were 223 new-name deals in 2013 compared with 270 in 2012 – not including, as always, business done by domestic suppliers. It rather begged the question: was the decline terminal and were the days of buoyant core system sales never likely to return? There was a delayed reaction when the economic


storms hit, with many of the selections that were underway still continuing through to fruition. It was possible to hypothesise that there could be a similar delayed reaction coming out the other side, whereby selections started in 2013 but had yet to result in decisions by the end of the year. It also seemed there was still a lack of confidence despite the economic green shoots, with too many doubts still about the medium and long-term outlook and worries that there could be seismic upheaval to come (including concerns about the dynamics of the Chinese economy).


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distracted by other things, with the investment going instead on channels, payments, risk management and regulatory compliance, rather than core banking replacements. At face value, Temenos continued to weather the


storm better than most. Its new-name sales held up and it maintained reasonable financial results. If you were looking for a downside, it would be the size and far-flung nature of its T24 successes again in 2013. Every one was in the tier three or, mostly, tier four category. There were no multisite deals beyond a VTB contract with Temenos that spanned corporate banking for Austria, Germany, France and the UK. It looked as though its increase in licence revenues was largely due to sales of other applications or renewal agreements (it shouldn’t be forgotten that Temenos started to switch from perpetual licences to ten-year ones around 2003-5). In Western Europe, Temenos recorded a domestic retail


deal at Aktia Bank in Finland, KBC in Ireland, plus a wealth management win in Switzerland and the win at VTB. It started to win converts from the outsource business that it acquired in the US in Q1 2014, Trinovus, and had one more deal in Canada. Seven wins were in Africa, ten in Asia Pacific/South-East Asia. Of its two wins in the Middle East, one was Sharjah Islamic Bank, to replace Misys’ Equation. There were also single wins in Mexico, Haiti and El Salvador. Much the same could be said for Oracle FSS in terms of


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