Banco Facil, formed by US company, Sherman Financial Group and large Mexican retailer, Grupo Comercial Chedraui. 2007 also saw a core system selection by another notable entrant, Wal-Mart de Mexico Bank, taking FIS’s Profile.
It is interesting to note the suppliers that have built on early projects in the country and those(the majority) that have not.
The bumper2007 saw SAP take four deals for Deposits Management in Mexico, two of which also included its Loans Management solution. Ecuador-based Fisa gained one, Thomson Reuters (now Misys) two, and Misys had two with Opics. There were two for FIS with Profile, six for Temenos, and one for US supplier, Open Solutions/now Fiserv (IXE Banco, now part of the Banorte Group).
In2008, Temenos had three deals, one of which was at
Banorte, SAP had two wins for Loans Management and one for Deposits, and Thomson Reuters’ K+TP was selected by IXE Banco. Top Systems sold a single unit in Mexico as well, so too Infosys (at Banca Mifel) and Fisa (at Grupo Corporativo OFEM).
Temenos was gaining a sizeable share of the Mexican
market at this time. However, a Mexican deal at Union de Credito de Nuevo Laredo was its only success in the entireCentralandSouthAmericanregionin2009.Temenos edged back onto the Mexican market in 2012, with a win at the operation of an international bank, Tokyo Mitsubishi. It has also been busy at the low-end, with T24 hosted on Microsoft’s Azure cloud for twelve micro finance institutions (MFIs) by the end of 2011. The twelve institutions were all clients of Synchronet, a joint venture set up by Temenos and a government-owned secondtier development bank, Fideicomisos Instituidos en Relación con la Agricultura (FIRA), in 2003.
Temenos’ project at Banorte was one of those that went off
the rails. The bank turned instead to regional specialist, Technisys, for its Cyber bank Core and Cyber bank Omni channel Suite, with both due to go live by the end of2012.
In 2009, the only other two deals for anyone in Mexico had
comprised Actinver for Misys’ Bankfusion. Misys also won 1 more deal after 2009 in 2015for Fusion Capital Opics.
As stated, a number of projects have not gone well in
Mexico. However, unlike too many places elsewhere, the evidence suggested that SAP’s implementations had mostly gone to plan, reflected in it gaining another three signings in Mexico in 2010, one in 2011, a couple in 2012 and another in 2013. Notably, two of the2010 wins, for Loans Management, came at banks that had previously taken T24, one of which was Compartamos Banco. In a year when Temenos drew a blank, Oracle FSS had one deal for Flexcube, following up with another in 2013. The other wins in 2010 in Mexico were treasury in focus, for Misys with Opics (two deals) and FSS with Spectrum.
Three of the seven 2012 wins were for treasury systems and went to Calypso, Sungard (with Front Arena), and FSS (now Wall Street Systems) with Spectrum. SAP had a win for its older core system, Deposits, and another for Loans Management, while Top Systems gained an MFI, Finterra, and Temenos added the aforementioned international operation of Bank of Tokyo Mitsubishi.
In terms of progress at ongoing projects, Compartamos
Banco in Mexico made headway with SAP during 2013 and this country was cited by the supplier as one of its focus markets. SAP won 5 loan management system in 2015.
The latter built on this with two wins in 2014 and Murex
gained a deal as well. For the time being at least, the rush to international vendors for core banking systems has slowed, with only a relatively low-end deal for DL&A in the year. However, there was a twist at Actinver in late 2014. As mentioned, it was a flagship taker for Misys’ Bankfusion (now Fusion banking Universal) but now signed with Oracle for Flexcube. A local integrator, Sophos Banking Solutions, which works with bothOracle FSS and Misys, is assisting with the project. It is unclear precisely what functionality Flexcube will provide.
The country’s two largest banks are BBVA Bancomer and Citi (Banamex), with around one-third of deposits, followed by Bancorte, Santander and HSBC. DL&A had a good year in2015 with 4 deals for Ban total in Mexico.
The market seems to have mellowed down once again after
a good run in 2015. There were only 5 deals signed in 2016 with four of them in the treasury and capital markets space – split equally between FIS’ Ambit Quantum and Calypso.
Panama
The economy and banking sector here have been relatively strong of late. The IMF cited ‘diversified ownership structure, low reliance on wholesale funding, as well as high capital and liquidity ratios’ as attributes of the banking sector. It has always been a banking hub, traditionally with a low level of supervision, providing offshore banking and with the presence of well over 100 banks as a result (around 40 with a full banking licence). The situation has been changing, particularly since 2010 when President Ricardo Martinelli signed an accord with the US for the free exchange of tax information.
This country has seen a mix of core and treasury deals, but
only in low single figures each year. The most notable deal of recent years went to Datapro in 2010. This was a long running core banking system selection for government- owned banks, Banco Nacional de Panamá, Agricultural Development Bank and National Savings Bank. Datapro, with its e-IBS system, beat
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