ERP offering. Another SAP ERP user in the country is Mizrahi Bank, which went live in 2004. In terms of large banks with core package systems, it is
necessary to go back to Israel Discount Bank signing in2001 for Accenture’s Alnova to replace CSC’s Systematics. In April 2004, a local paper, Yediot Ahara not, reported that: ‘The project will be extended one and a half years over the original schedule and will require an additional $40 million over the original $115 million’. A source at the bank told IBS that the Alnova ‘framework’ had gone live but admitted that the project as a whole was running late. Bank of Israel, the country’s central bank, was understood
to be in an advanced stage of a core banking system tender in late2013. The main contenders were believed to be Temenos withT24 and Sopra Banking Software with its Thaler/Sopra Banking Platform. In 2009, the bank had signed for Wall Street Systems’ Trema-derived Wall street Suite. In 2012, Calypso had a win at the country’s oldest bank, Bank Leumi. There has been a handful of other treasury system win in Israel over the years. After such patchy activity, TCS’s win in 2014 at Bank Yahav
stood out, not only from a country perspective but also a global one, in another relatively quiet year with few large deals anywhere. The win included domestic retail and corporate banking, digital channels, wealth management, trade and treasury. It has 45 or so branches and has been steadily broadening its activities in the last few years after starting out with a focus on services for public sector employees. There were 2 deals awarded in 2015, Ehud Neor Limited, procured Probanx’s Core plux. While Bank Leumi Bank Leumi selectedT24 of Temenos for its Core banking platform.
Jordan
Much of the demand in Jordan in recent years for new systems has been among non-banks. It has been fairly patchy overall, with a peak of seven deals in 2009, but then none in 2010, three in 2011, and a solitary win in each of2012, 2013 and 2014.
The country has a relatively small population and is served
by 26 banks, of which there are three domestic Islamic players. Easing of restrictions has seen new entrants in the last decade, typically from other countries in the region. The banks have been fairly resilient but the country has not been immune from political tensions and from the effects of the Arab Spring in neighbouring countries.
ICSFSis the main domestic supplier. It actually has
Jordan/UK-ownershipandusedtogounderthename of Computer& Communications Systems in the region. A number of its domestic users, such as Jordan Investment Bank and Jordan Kuwait Bank (a subsidiary of Kuwaiti group, Burgan Bank), also use its ICS Banks system for international operations.
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The three 2011 signings were Housing Bank for Trade and
Finance, which signed for Infosys’ Finacle, plus Military Credit Fund and Jordanian Kuwaiti Financial Leasing (leasing venture of the aforementioned Jordan Kuwait Bank), both of which signed with ICSFS.
In 2012, the only deal was a relatively note worthy one, with
Jordan Ahli Bank choosing Temenos’ T24. The project was an enterprise-wide IT modernisation, with the bank replacing a host of legacy systems domestically and at its international locations in Lebanon, Palestine and Cyprus. The technology overhaul was part of an ongoing transformation programme at Jordan Ahli Bank – the oldest and one of the largest banks in Jordan. The vendor already had a presence in the country, with T24 roll-outs at Cairo Amman Bank and Capital Bank of Jordan, both of which were 2009 signings. ICSFS won another deal in 2016 with Bank Al-Etihad. Misys also gained an off the record client for its Fusion Banking Trade Innovation product during the year.
Kuwait
Kuwait is home of Path Solutions (majority owned by Kuwait Finance House) and ITS but deals are fairly widely spread among vendors. The standout one of the last decade, which was followed by a fairly painful and long project, was at National Bank of Kuwait for TCS’s Bancs in 2006.
There is a total of 22 banks comprising ten local banks, one
specialist bank and eleven foreign banks. Of the ten local banks, half are Islamic; of the eleven foreign banks, seven are from the GCC region.
Burgan Bank, part of the Kuwait Investments Projects
Company (Kipco), has been in expansion mode over the past few years. Since 2008, it moved four regional subsidiaries of its sister bank, United Gulf Bank (the investment banking arm of Kipco), under its ownership and management. These were Jordan Bank Kuwait, Tunis International Bank, Algeria Gulf Bank and Bank of Baghdad, which were combined under the Burgan Bank Group umbrella. United Gulf Bank and its subsidiary, Syria Gulf Bank, operate separately within the Kipco group. Both were long-standing users of the ICS Banks system from ICSFS and this system has been rolled out across the rest of the group.
Kuwait Middle East Financial Investment Company
(KMEFIC), which signed for Temenos’ T24 in 2007, appeared to have scrapped the implementation by early 2013. This was one of the two investment firms in Kuwait with T24, the second being Kuwait Investment Company (KIC). The latter took Temenos’ core offering over a decade ago and continues to use it today, although it is not believed to be a particularly active user.
Market Dynamics Report 2017 |
www.ibsintelligence.com
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