NEWS
IBS Journal November 2017
11
Temenos announces Openbank deal T
emenos has revealed that the “Tier 1” bank it has signed a major core banking deal with is Santander Group’s OpenBank.
The bank has selected Temenos Core Banking – including the vendor’s flagship product, T24 – to be implemented as Openbank’s new core banking solution for retail and SME banking across its global operations.
“Temenos is honoured to have been selected by Openbank to support them with their digital journey and growth plans,” said David Arnott, CEO of Temenos. “This is a highly disruptive and strategically important deal, which demonstrates the acceleration in thinking among Tier 1 banks as they move to their digital future. This also reinforces Temenos’ position as the partner of choice for the world’s largest banks.
“To offer a truly digital experience which consumers demand, banks need to renovate their legacy systems. They see the benefit in adopting a build-and-migrate approach to minimise time-to- market and to extract maximum value.”
Ezequiel Szafir, CEO at Openbank, added: “We are very excited to count on the know-how and speed to market that Temenos will provide us, as we continue to build one of the best digital banks in the world”
Temenos has said that the deal will have a significant effect on its Q3 financial results, set to appear on 18 October.
Temenos’ most recent go-live was with Cooperative Bank of Oromia, with the Ethiopian bank deploying the vendor’s UniversalSuite platform.
Sberbank plans Islamic changes R
ussia’s largest bank is planning on setting up an Islamic finance entity, as well as tabling regulatory changes to aid Shari’ah compliance.
According to sources close to the matter, talking to Reuters, Russian banks are keen to expand into Islamic finance to attract investors from the Gulf and Southeast Asia to offset damage dealt by sanctions from the West.
A move from Sberbank, which hold around a third of all Russian domestic deposits, could be a major signal to other lenders in the country. Around 20 million people in Russia identify as Muslim.
Sberbank is currently testing pilot transactions in leasing, financing production and trading. The bank closed a maiden Islamic deal in 2016, and that helped spark its interest in the field, Oleg Ganeev, deputy chairman of the executive board at the bank, told Reuters.
That deal was with a leasing company in Russia, with a financing limit of 45 million roubles ($775,000).
“There are three landmark projects in the pipeline. One is a local project in the energy-saving sector and two projects are with trading counterparts from GCC (Gulf Cooperation Council).”
TSB delays Proteo4UK rollout T
SB Banking Group is delaying the full implementation of its new core banking system to avoid an expected interest rate increase in November 2017.
The platform, Proteo4UK, is a variation of an in-house platform used by TSB owners Sabadell. When the latter bought up the UK bank in 2015, it announced that it would be replacing TSB’s core systems with Proteo.
TSB launched its first product – a mobile app – with the new core
system earlier this year. TSB staff will get their hands on the Proteo4UK in November, but a full customer roll-out won’t occur until the first quarter of 2018.
CEO of TSB, Paul Pester, said that more than 2,500 hours of work has gone into the core banking change. “The new platform is already being used to support a number of our core services and customers are starting to see the benefits through our new TSB banking app,” he added, in a conversation with Computer Weekly.
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