IBAS Global Banking Factory Commercial Banking Applications
Overview
CBA is a long-standing Norwegian software house. For much of its history, its core offering has been a back office system called IBAS. Over the last decade or so, that system has undergone a rewrite using Java, bringing enhanced functionality and platform independence, as well as GUI and web-based interfaces. The reason CBA appears in this payments systems guide is that the payments functionality of IBAS looks sufficiently strong to
be taken for payments processing in its own right. This is similar to the situation with TCS Financial Solutions’ Quartz system. All back office systems have payments capabilities but it is unusual for these to be touted as standalone. A key customer is OCBC in Singapore. and ABN AMRO.
Strengths
• Proven and flexible payments offering. • Long-standing, stable company, highly experienced staff.
• Innovative company, with straight-through processing work an example of this.
• Weaknesses • It still has a small user base, with exposure as a result of the Icelandic banking crisis because a number of its customers were located here.
• Low market profile and no direct presence outside Norway.
• Not viewed as a payments specialist.
Corporate overview
CBA has remained relatively small, with around 30 employees, and has not had the geographic presence of many of its rivals. Most early activity was in the Nordic region and this remains a stronghold. Expansion beyond has been limited. However, the supplier is fairly innovative, particularly in the area of straight- through processing, where its activities have made it a close partner of Swift over the years.
The IBAS system came out of a joint development in
the mid-1970s with Den Norske Creditbank (later to merge with Bergen Bank to become Den norske Bank – DnB) and Den Danske Bank. The project focused on trade finance and commenced in 1975. CBA was set up in 1983 by one of the people who had been involved in this original development, Rolf Hauge. After some wrangling with a rival claimant, CBA acquired marketing rights to the system from DnB. The system was intended to span more than just trade finance. However, given CBA’s roots and expertise, it was no
surprise to find that the first release was focused on this area. This remained one of the strengths of the system, with support for import and export documentary credits, collections, and guarantees (customer and bank).
IBAS was subsequently ported to Unix and a number of
takers, such as MeesPierson and Gjensidige Bank, migrated to this.
The Java rewrite was within a project called ‘Next
Generation System’ (NGS) and started in the late 1990s, on a phased basis. NGS was first unveiled at Swift’s Sibos show in September 1999, with much of the work done with MeesPierson. This version included the Java and internet enhancements as the Customer Front-End System (IBAS CFE) and this was then applied across the system, with CBA making it available initially for clean payments and FX and MM during 2000. By September 1999, areas to have undergone the rewrite included netting and the payments portion, with the latter offered as an integrated part of IBAS and with CBA also coming to position it as a standalone payments offering.
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