The contract seemed to be going the Oracle FSS way, but the two parties could not agree on a deal.


However, Oracle FSS did sign another entity in Tajikistan in


2013, Spitamen Capital, which took the Flexcube core and Flexcube Direct Banking. There were two more deals in the country in the course of the year, and both went to CFT for its CFT-Bank offering (a microfinance lender, Humo and Partners, and Kont Investment Bank). Kont Investment Bank initially embarked on a core banking software project in 2012, with an international vendor, but this was shelved quite early on, and the bank went back to market, this time opting for CFT. Oracle FSS picked up another deal in2014, while National Bank of Tajikistan set off on a World Bank funded over haul of its market infra structure with a new automated transfer system and central securities depository platform.


Turkmenistan provided four deals for Colvir in 2011 and another in 2012. The country had no previous record of


selecting international systems, aside from Halkbank taking Diasoft’s Flextera in 2011, and there have been no knowndealssince2012. Softclub signed Turkmen bashi Bank (a state-owned bank that supports the country’s industry and retail sectors) and Garagum Bank, for SC-Bank NT, in 2011. SC- Bank NT was also being deployed at the Turkmen branch of Bank Saderat Iran (the bank’s subsidiary in Belarus, Honorbank, already ran SC-Bank NT). Completion of these projects was planned before the end of 2012.


There was a solitary selection in Uzbekistan, comingin2010.


This was at start-up, Orient Finans Bank, which signed for R- Style Softlab’s RS-Bank. The privately held bank was granted a universal banking licence by the authorities in summer2010. The bank’s initial focus was on SME financing and retail banking. The vendor’s first customer in the country, Hamkorbank, had signed in 2008 and went live in2010.


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Market Dynamics Report 2017 | www.ibsintelligence.com


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