This page contains a Flash digital edition of a book.
g


for Inversia (no surprises here). The pickings for international vendors were slim to


say the least, with just one deal recorded in 2014. The beneficiary was Murex with its MX.3 treasury and capital markets system, which is being rolled out front-to-back office at Absolut Bank. Murex’s rival, Calypso, gained an extension of a deal with Otkritie Financial Corporation Bank, to implement its TCM software across the acquired Nomos-Bank operations. When turning to the private banking players, the first


place to look is always Avaloq, as it gains the bulk of the large deals that are on offer each year. It was another good year for a supplier that remains in the ascendancy although none of its eight wins were in the category of tier one. Three were deals to traditional, low-end Swiss private banks, with another in Liechtenstein, one for its ASP offering in Germany (BHF-Bank) and two in Singapore (Deutsche Bank and a regional player), plus a notable multi-site deal from Isbank (with something of a retail banking slant to the main country in focus, Germany). The supplier’s largest projects are ongoing, from deals in the previous few years, at the likes of Barclays, HSBC and Westpac. Of course, when considering private banking, other


more generalist suppliers sometimes gain the nod, as was the case when Julius Baer opted for Temenos’ T24 in early 2015 (Avaloq came second). It is debatable whether ERI still qualifies as a private


banking specialist because, while this is the focus for most of its user base, deals in recent years have been more diverse, including a line in developing markets central banks. In 2014, it had UK start-up, BFC, which has a high net-worth slant, and a deal with an asset management focus in Kuwait but also the retail-oriented La Poste de la Cote d’Ivoire. Switzerland-based Sage SA had a notable off-the-record


deal for its Prospero system at a private bank for Singapore and Hong Kong plus a front-to-back office win across wealth management and asset management in the Philippines, and another at a family office in Switzerland. The deals in this space are considerably fewer than pre-


crisis, with still sparse pickings in the traditional centres, where once the likes of ERI and Sungard (with Apsys, now Ambit Private Banking), made hay. Nowhere is the impact of M&A more pronounced than


in the treasury and capital markets sector. While the two main suppliers to have avoided the consolidation gained good hauls of deals once more, many others have fallen away. Calypso’s 14 new-name deals was another impressive


tally and included quality as well as quantity. It pulled in the standout deal with the combined selection at two central banks, Banco de Espana and Banque de France. It had three in Africa, with the rest in mainstream trading centres (three in the US, two in Canada, three in Western Europe aside from the central banks, and one in South Africa). It also had one large corporate but these are not included for the Sales League Table. Murex had a number of corporate deals and pure front


office wins (again, not counted in the table) but plenty that were in scope. There was a wider geographical spread than for Calypso, including a couple in Latin America (one of these was Banco Davivienda in Colombia), China Citic Bank International for Hong Kong, one in the Middle East (Bank Muscat in Oman) and one in Russia (the aforementioned Absolut Bank). The Summit system, now Fusioncapital Summit, from


Misys, had a win in China, while Fusioncapital Opics had a solitary new-name win as well, in Indonesia, plus a couple of country extensions from existing users. Misys’ Reuters- derived Fusioncapital Kondor+ gained three deals, in Ghana, Jordan and Vietnam. Maybe benefitting from the void left by others, Openlink had a good time of things, with seven deals for Findur of which a couple were in Mexico, one in Brazil, and one each in Jamaica, Malaysia, the UK and US. The same might be the case for Sungard with Ambit


Treasury Management (Quantum, as was), which had a decent haul of ten low-end deals. There was a good geographical mix, with the deals coming in Europe (two each in the UK and Finland), Africa (South Africa, Mauritius and Egypt), and one each in Indonesia, Philippines and Australia. The supplier also had two wins for Front Arena, in Germany and UAE. It might now be that we have a similar pattern to that


much shorter, severe slump in 1999, when everyone was focused on Y2K. A number of systems never recovered from the downturn and it was, effectively, the end of the road for them as commercial offerings. Then, as looks to be the case now, others bounced back and resumed more or less where they left off. The end result of this natural and M&A-derived wastage is a less populated market, which is a problem. Knocking around at the bottom of the Table at present is Oracle’s aforementioned OBP (the one deal in 2015 was for an online loan origination component, so didn’t count as core) but it constitutes a high-end addition to the market that might make it into the mainstream. Other newcomers are notable by their absence at present but perhaps niche offerings can spread their wings. A system such as Intertech’s Inter-face breaking out of its domestic market might add another relatively new system for banks to evaluate. Spain’s Indra is seeking to do the same with its Itecban core system and another Spanish supplier, Nessa, gained a win in 2013/4 at Banco de la Nacion in Peru as it seeks to take its system to the international markets. Perhaps a supplier such as Sword Apak can now do the same. It could be that it is from such one-country players that new options will emerge for the wider market. It all adds up to a fragmented picture, with some causes


for optimism, a still tough market, and only a relatively small number of suppliers that are buoyant. Nevertheless, that’s a happier conclusion than for the previous few years.


Market Dynamics Report www.ibsintelligence.com


45


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