inroads, most notably in 2012 with a win at Swiss Life Banque Privée, a joint private banking subsidiary of the Swiss Life and Viel & Cie groups (this was also to replace Viveo’s V. bank).
Overall, the tally of new-namedeals in France across all areas has fallen steeply, from 22 in 2008, to 20 in 2009 and just six in 2010 and five in 2011, but with a slight bounce- back to eight in 2012 and ten in 2013, but with only the Calypso and Murexwins in 2014, alongside a solitary success for TCS and two more wins for SAB. One of the latter was at Agence France Locale, a budget financing utility set up by various local government bodies in France. SAB AT was taken to support the loan book at the new entity.
Temenos once more drew a blank although a major multi-
site selection from Soc Gen looked to be heading its way, with HP subsequently selected as the implementation partner, ahead of Accenture. In 2015, Misys won 1 deal for Fusion capital summit and Bami- Banque Michel Inchauspe Bami- Banque Michel Inchauspe awarded ontract to SAB for SAB AT. Homegrown supplier, Sopra Banking came out as the big winner in 2016 clutching 9 of the 15 deals signed during the year. Four of Sopra’s deals were for its lending system, Cassiopae, while the remaining 5 were won by Sopra Banking Platform. The other notable deal is went to SAB Group adding three big names – Barclays, HSBC and Copart is – to its list of customers.
Germany
This is another traditionally inward looking market, with the tendency of German banks to buy German software. This has been only heightened by the difficulties of some vendors to tailor their systems for local market requirements. It has meant continued reliance on in-house platforms or domestic suppliers, of which the major heavy weight is clearly SAP, with both core banking and lending systems. There are other mid- tier suppliers, including FIS, which has the domestic Kordoba system within its suite. The main outside supplier to make head way has been I-flex/Oracle FSS.
There is also a small remaining user base of a system called
Paba/Q, from a domestic supplier, Actis, which was acquired by Temenos in 2007. Virtually none of the Paba/Q users have tried to move to T24. On the T24 failed projects list are Baader Bank, Ready Bank and Honda Bank. Another player, EIHBank, was struggling, but then anyway had its assets frozen (it is Iranian). The first Paba/Q customer to finally sign for T24, four years after the takeover, was Maple Bank, a European investment and wholesale banking subsidiary of Canada-based Maple Financial Group. This project, however, also resulted in nothing (see below).
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By the time of the deal, Temenos claimed to have invested a
lot in developingT24 German Banking System (GBS) and had 100+ Germany-basedresources to cater for the local market(plus Austria and the German-speaking part of Switzerland). Aside from the Paba/Q base, LBBW took T24 in early 2010 for lending but appeared to then give up (the bank was rumoured to be considering moving instead to one of the domestic service bureau, Finanz Informatik).
In terms of service bureaux, of which Germany has a
number, these can constitute potential customers when they come to replace some or all of their systems. Some of the underlying platforms are old and high-cost(Finanz Informatik, itself, has large IBM zSeries mainframes to run 150 savings banks and a number of landesbanks).
Oracle FSS saw a cut-overin 2009 at HBOS’s start-up
operation, with Flexcube supported by local bureau, IZB. The HBOS selection had been made in 2008, with IZB taking Flexcube the previous year. However, there were no additional Flexcube takers in Germany in 2009 or 2010. One of Temenos’ previous German failures, Baader Bank, took the safer option of OBS from Die Software Peter Fitzon in 2010. Another, Honda Bank, went for a local offering from COR&FJA, an established domestic supplier (now owned by Sopra, see below). Switzerland-based private banking system supplier, Avaloq, has been making good progress in Germany. In 2010 it gained a sal eat Frankfurter Bankgesellschaft. It then established a joint venture in early 2013 with Quirin Bank, resulting in the formation of a new company, Avaloq Sourcing. This offers the Avaloq Banking System (ABS) to German clients on a BPO basis, with Quirin Bank hosting the system. Prior to this, Avaloq acquired a German technology firm, Höll Computer and Software, in late 2012. Avaloq is basically using theclients of Höll’s flagship core banking product, Itrexs, as the first takers of the hosted platform in Germany. Höll is now under the Avaloq umbrella as Avaloq Software Germany. Quirin Bank itself was a long-standing user of Itrexs and currently offers it on a hosted basis to four institutions in Germany, comprising V-Bank, the German subsidiaries of Vontobel and Julius Baer, and Trade gate Exchange. All clients will be migrated to the Avaloq platform in the first phase of the new venture, with Avaloq planning to start moving the first Itrexs client in Q3 2014, and hoping to complete the process by the end of that year.
A third vendor going the acquisition route in Germany
(following on from Temenos and Avaloq), was Sopra. In November 2013, the France-based company acquired the banking operation of the aforementioned COR & FJA for €13 million. The transaction included around 100 staff and a clutch of German bank clients including Honda Bank (as stated), Deutsche Hypotheken bank, BMW Bank and Bankhaus
Market Dynamics Report 2017 |
www.ibsintelligence.com
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