International Leasing and Finance Corporation. One other supplier that has had success in the last few years
was ERI for its Olympic system in 2011 at the central bank, Nepal Rastra Bank. Cut over came here in the first half of 2013.
Trust Systems & Software, beaten at Laxmi Bank in 2013,
had success elsewhere the year before when start-up, Sajha Development Bank, became customer number three in the country for the Indian supplier (Mission Development Bank and Sewa Bikas Bank being the others). For this deal, the vendor was chosen ahead of domestic rival, Mercantile and its Pumori banking software, Neptune with Rubikon and Polaris’ Intellect core offering (derived from the acquisition of India-based Laser Soft in 2009).
While there were no decisions in Nepal in 2014, there was
plenty of selection activity, with much of this expected
toresultindealsin2015.Byearly2015,government- owned Nepal Bank Limited had assessed the responses to an extensive expression of interest(EOI) document and had moved to the RFP stage, with this expected to go to Temenos, Infosys and ERI.
Another Nepal-based entity, Prabhu Bank, was also
expected to go to market for a new system. The bank is the result of a 2014 merger of four financial institutions: Kist Bank, Prabhu Bikas Bank, Gaurishankar Development Bank and Zenith Finance Company Limited. Prabhu Bank is listed on Nepal Stock Exchange, has90 branches country wide and650,000 customers. It has inherited a hotchpotch of local legacy systems, which it intend store place with a centralised, modern core platform, according to a source on the ground.
Meanwhile, Lumbini Bank and Citizens Bank International
were yet to reach a decision on their respective core software renovation projects. The two banks initiated their system selections during 2014.
Laxmi Bank was a notable signing in 2013 for Infosys. The
bank was a long-standing user of Oracle FSS’s Flexcube, but plans to replace it. Infosysf ended off competition from Temenos with T24 and Trust Systems & Software with Trust bank. Infosys had not featured in selections in the country for a few years but Finacle is used at Everest Bank (a selection in 2007) and Nepal Investment Bank (2008). However, it was Infosys; who enhanced the lead in 2015 with 3 wins for Finacle Core Banking Implementationin2015. No deals were reported in 2016.
Pakistan
Instability in Pakistan has not helped the banking systems market and Moody’s has kept a negative outlook for the country’s banking sector, in part due to large and growing holdings of government bonds and weak economic growth.
158
Despite this there were three deals in each of 2012, 2011 and 2010 after nothing in 2009. It was quieter in 2013, with solely a treasury deal from Misys with Opics. There was one selection in 2014 but signs of a pick up, with at least one other selection underway.
One of the2012corebankingdealswenttolocal supplier,
Autosoft, which gained thenod at the Islamic banking operation of a foreign bank. Another went to Islamic banking systems specialist, Path Solutions, at Burj Bank. The latter, formerly First Dawood Islamic Bank, replaced Sungard’s Symbols/Ambit Core, which it had been using since 2007, with a cutover in February 2013. The other win was treasury in nature, from Misys with Kondor+ at National Bank of Pakistan.
Two of the 2011 deals were also treasury-related, with
Misys’ Opics being taken by Muslim Commercial Bank (MCB Bank), and Sungard’s Sierra/Ambit Management taken by United Bank. The third deal was for Temenos at a newly- established institution, Waseela Microfinance Bank.
The 2010 deals went to a local vendor, Autosoft Dynamics,
at Sindh Bank, Oracle FSS, at NRSP Microfinance, and Sungard, which had a sale of its treasury system at another domestic bank.
In previous years this country had been markedly more
active, with a number of banks of all sizes making selections, sometimes to support fairly ambitious transformation projects. Those deals had all gone to international players (Temenos, Oracle FSS, FIS, Misys, Path Solutions, Nucleus and Sungard). There were suggestions of corruption around at least one project, that of National Bank of Pakistan with FIS’s Profile, although this continued. The bank later became the first taker of the Islamic version of Profile.
Bank of Punjab, a 250-branchinstitution, was actively
looking to replace its in-house built legacy system in 2011,2012 andinto2013. There were some allegations about a lack of transparency within the selection process and of breaches of the rules regarding procurement bids. The bank ended up with Oracle FSS as the only bidder. Another RFP was prepared in late 2013. Prior to all of this, in 2006 the bank had tried and apparently failed to build a new Microsoft-basedcore banking offering with a UAE-based provider, Kalsoft. In the end, it is understood that the bank signed with Oracle for Flexcube in early
2015.As such, the only signed 2014 core banking system contract was at conventional and Islamic bank, Bank Al Habib, which also went for Flexcube. The vendor’s local partner, Techlogix, will implement the system plus Oracle’s solution for enterprise risk management.
One bank in selection mode in early 2015 was Summit Bank, amedium-sized player that is among the fastest growing
Market Dynamics Report 2017 |
www.ibsintelligence.com
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