PTS, CAMS II DXC Technology (CSC)
Overview
CSC has a payments engine which was developed in Germany. Most users to date are based here but the solution has been tailored for a number of European countries over the last few years through work with Commerzbank. CSC also has a long-established card management system, traditionally sold as CAMS II (now part of the vendor’s Celeriti suite). CSC merged with enterprise services business of HPE to form DXC technology in April 2017.
Strengths
• Stability derived from being part of a large company. • Large number of CSC consultants. • Focus on low-value domestic payments although claims high-value support as well.
• Broad customer base, including Commerzbank as an international user.
Corporate overview
Computer Sciences Corporation was founded in 1959, as an IT services firm from the start. Much of its early work was for the public sector but it moved into financial services in the 1960s, developing a payroll system and a tax return system. Skipping to the 1990s, CSC acquired Ploenzke AG, a German computer services firm, in 1994, and then Continuum, owner of Hogan Systems Inc, in 1996. The former would start developing a payment processing system, PTS, about five years later, and the latter brought the Hogan core banking solution. CSC peaked at 90,000 employees worldwide (it is now around 80,000).
CSC has had a tough few years. This included declining
revenues and net losses through 2011 and 2012, and the launch of a $1 billion cost-cutting exercise. There were notable changes at the helm of the company, with CEO, Michael Laphen, and CFO, Michael Mancuso, both retiring. They were replaced by Mike Lawrie (moving from Misys) and Paul Saleh, respectively.
Summary history 1959
CSC founded.
1994 1996 2001
Ploenzke acquired. Continuum acquired.
Development started on PTS.
2008 Commerzbank takes SEPA Direct Debits solution from CSC, and continues country roll-out of PTS. 2012
Against a backdrop of losses and other problems, a new senior management team is appointed.
2015 CSC teamed up with HCL Technologies to create a services joint venture which led to investment in platform modernization & platform functionality enhancement Merged with HPE to form DXC Technology
2017 Payment Systems & Suppliers Report |
www.ibsintelligence.com 143 Weaknesses
• Geographical coverage confined mainly to Central Europe.
• PTS is not the flagship product of CSC, and PTS is not currently included in CSC’s Celeriti roadmap. • Relatively small number of full-time PTS specialists.
CSC experienced problems in the UK as it found itself under
fire from the UK government for its failure to deliver a new system for the National Health Service National Programme for IT and was sued for this by a group of investors. Furthermore, it was revealed that the $24 million of operating income from the NHS contract declared by CSC was overstated. In addition, it was also investigated by the US Securities Exchange Commission (SEC) over alleged fraudulent activities in the Nordics and Australia. There has been further cost-cutting, described by Lawrie
as ‘an aggressive $1.2 billion cost takeout programme to get fit’ and a divesting of some businesses. Revenues in 2013 were $14,993 million ($15,364 million in 2012) with net income of $961 million (compared with a 2012 loss of $4,242 million). Effective from April 1, 2017, CSC and the Enterprise Services Division of Hewlett Packard Enterprise (HPE) merged to form DXC Technology Company. Thee new company that began trading on the New York Stock Exchange under symbol “DXC.” and became a member of S&P 500 index, will be focused on digital transformation projects.
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