with Laos the first country for the bank’s multisite roll-out. Vietnam-based regional supplier, FPT Information System, claims three banks as users of its Smartbank system in Laos, comprising ST Bank (a start-up that launched in 2009), the operation of Malaysia-basedPublic Bank, and Indochina Bank. BPCE took Flexcube to replace Smartbank, while FPT worked on the Flexcube implementation at Lao-Viet Bank.
Myanmar, Maldives, Bhutan
Myanmar (Burma, as was) has gradually been opening up for business. The Central Bank set about preparing for an RTGS system, while a couple of the commercial banks began considering international core banking offerings. Myanmar Livestock Fisheries and Development Bank chose the Kastle Core Banking system from 3i Infotech at the start of 2013. A local vendor, Southern Computing Technology, was working on the project alongside the Indian supplier. Myanmar Foreign Trade Bank opened tenders for a new system in September 2013. Temenos had earlier gained Co- operative Bank in Burma in 2011.
The activity picked up in 2014, with some of the analyses
culminating in decisions. Temenos gained one and Oracle notched two. One of the latter was Tun Foundation Bank, a 20- year-oldprivatebank. Oracle’s local partner, MIT,is managing the project.
There was no formal RFI or RFP process. Instead, the bank
initiated a dialogue with Standard Chartered Bank, one of the two large international banking groups to have representative offices in Myanmar at present(ANZ being the other), to determine which providers were ‘the best in the market’.
In early 2015, Yoma Bank, which initiated its search for a
new solution during 2014, opted to partner with Misys, which will supply its Fusion banking Essence core system. Yoma Bank was the first known customer for Misys in the country. The project is backed by a $5 million loan granted to Yoma Bank by an investment vehicle of the World Bank, International Finance Corporation (IFC).
By this stage, government-owned Myanmar Economic
Bank was in the middle of a selection process, whilst the Central Bank of Myanmar was in mid-implementation of a new core system with Japanese vendor NTT Data. With opening of banking industry in Myanmmar, Infosys secured a lead; with 3 deals in Myanmar for the Finacle core banking product.
In the Maldives, Path Solutions gained Maldives Islamic
Bank in 2010 and this start-up went live with a first phase in March 2011. One of the largest banks, Bank of Maldives, then selected Temenos’ T24 in 2013, with go-live scheduled for Q1 2014. It had 235,000 customers and25 branches. It was a long-
standing client of Misys’ Equation and Trade Innovation trade finance software.
Oracle FSS won single deals for Flexcube in Bhutanin2008
(the largest bank in the country, Bank of Bhutan) and2009 (T Bank, which went live in 2013). However, during2013, Bank of Bhutan sought a mobile payments solution for its network of 28 branches and twelve e-branches and, by early 2015, was finalising a request for expressions of interest(EOI)as it looked to replace Flexcube.; it finally selected TCS Banc product as its Core banking system. Oracle claims Bhutan National Bank (a 2003convert from the vendor’s legacy system, Microbanker, which stemmed from I-flex) as another user in Bhutan. Druk PNB Bank, another domestic commercial bank, is on the Infosys Finacle user list, having selected the system in
2009.In 2016, 4 deals were signed, with off the record core banking deals awarded to Infosys.
In 2016, two of the largest banks in Myanmar, Ayeyarwady
Bank and KBZSC chose TCS Bancs for its securities trading settlement. Similarly, Myanmar Oriental Bank chose Temenos’ T24 to upgrade its core banking platform.
Nepal
The banking sector in Nepal is relatively undeveloped and has some structural weaknesses. In June2013, the World Bank approveda $30 million credit to help Nepal accelerate its financial sector reform programme to reduce the vulnerability of the banking sector and increase its transparency. One measure was expected to be the restructuring of the long- standing and largest bank in the country, Nepal Bank. In total, there are 32 commercial banks,85+ development banks, 75 or so financial companies, 20 or so MFIs and around 15 saving and credit co-operatives. They have tended to rely on packages, with locally developed offerings at the lower end but more mainstream packages for the larger banks.
While clearly a setback for Oracle FSS, this supplier has a
reasonable base in the country and has added to it in the last few years. In 2010 it won Mega Bank, one of four selections in a relatively busy year in Nepal. The others went to Temenos, Neptune and Polaris, at Civil Bank, Infrastructure Development Bank, and Social Development Bank, respectively. Civil Bank, a start-up, went live on T24 in2011.
2009 had been busy as well, with Oracle FSS and Temenos
sharing two wins each (Janata Bank and Siddhartha Bank for the former, Agricultural Development Bank versus Silverlake, and Sunrise Bank for the latter). Agricultural Development Bank, one of the largest in the country, went live with T24 in a first phase in 2011, followed by a phased roll-out to its 243 branches. The only other supplier to gain a look-in in 2009 was Neptune, at
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