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and has a relatively flexible, modern solution as a result, and Norway-based CBA, which has done the same with its IBAS offering, resulting in a Java-based, object- oriented solution. The trend is not only limited to increased functional offering, but also significantly to do with the digital adoption by banks and the resultant channel consolidation, and also with regional requirements driven by needs in expanding offerings – Islamic banking is a classic case in point. The classic case of a supplier shooting itself in the foot with a new


development was Internet, at one time an important player in the market, which announced its ultimately canned Open Atlas rewrite of Atlas at an early stage and therefore consigned its existing offering to the category of legacy system due for replacement arguably far earlier than was necessary (Atlas, today in the hands of Wall Street Systems, is still an important part of a number of banks’ operations). It is always worth considering history when setting strategy, as there is much


to learn from the mistakes and masterstrokes of the past. But here, as elsewhere, suppliers do sometimes plod into the same traps, so too banks on occasions with their selections. Of course, even with experienced founders, there is no guarantee of success


for start-ups, with all facing an uphill struggle at the outset but also often over time as well, in no small part due to having to compete with the massed sales and R&D staff of the heavyweights. Banks have tended to be conservative and, indeed, the current turbulent times have made them even more so when considering vendors. There is a fair degree of irony here. In many cases, small suppliers outlive the banks – there is risk on both sides. Those suppliers that have stayed immune from consolidation are ever fewer,


with examples being ERI, Murex, CBA in Norway, and two universal banking system suppliers focused on the French speaking markets, Capital Banking Solutions and SAB. The list was longer even just a few years ago but FNS, FNX, System Access, Wall Street Systems and Trema have all succumbed (the latter two coming together). System Access become the first core back office system within Sungard, which of course has now been acquired by FIS. FNX was bought by GL Trade, then both were bought by Sungard earlier. FNS was bought by its partner, Tata Consultancy Services/TCS). One of the French suppliers, Viveo, fell in late 2009, bought by Temenos. During 2011 and into 2012, French supplier, Sopra, acquired Delta Informatique, Tieto UK and Callataÿ & Wouters, and there was the on-off proposed coming together of FIS and Misys, then Temenos and Misys, the latter episode subsequently flushing out a couple of venture capital firms and ending with Misys acquired by one of these and merging with the acquired


Market Dynamics Report www.ibsintelligence.com 7


market overview


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