Luxembourg operation of Banca March signed for Temenos’ T24 in 2012. Swiss vendor, Sage SA, had a win for its Prospero system in Luxembourg at Almagest Wealth Management in 2011. Private banking activity in Luxembourg had been a bit more pronounced in 2010, with Avaloq gaining Nord LB. Callataÿ & Wouters (ahead of becoming Sopra Banking Software) had two wins, one of which was a replacement of the New Banking system at Banca Popolaredell’ Emilia Romagna. Aside from private banking, there had also been a win for Calypso in the treasury and capital markets space. In 2009, Thomson Reuters and Misys were the only winners here, with K+TP and Opics respectively (both now reside under Misys’ umbrella). One project in Luxembourg that has been in the spotlight has been at Nordea Bank. It has been implementing the latest versions of Temenos’ Odyssey-derived Triple A Plus front-end and the T24 core system as well as the supplier’s new multi-channel offering, Temenos Connect Advanzia Bank Advanzia Bank awarded contract for T24 to Temenos in 2015.
Traditional leader in Luxembourg, ERI, has seen the most
pronounced drop-off in sales here, winning four for its Olympic system in 2007 but nothing after this until late 2013 when it secured a deal with Natixis Bank in Luxembourg. The bank was to replace Misys’ Midas, which has been used across the Natixis group for many years. It was understood Natixis in Luxembourg went through a formal selection process, with vendors such as Temenos and Avaloq on its RFP list.
BGL BNP Paribas, one of the largest banks in the country,
was known to be in core system selection mode in early 2014 but no decision had been made by the end of the year. Temenos gaineda deal at DNB Luxembourg, while Greek supplier, Profile, hada low-endinvestment management system deal. The deal at DNB, the subsidiary of the Nordic group, included Temenos Connect for digital channels. The bank is a small 40- personorganisation that has two key business lines: private banking and mortgages for affluent and high net- worthNorwegians who want to buy second homes abroad. Go- live was planned for January 2016.
Luxembourg was arguably more interesting in 2014 for a
deal that didn’t happen. This was at Banque Internationale à Luxembourg (BIL), the largest private bank in the country. It abandoned a roll-out of the Avaloq Banking Suite and also scrapped its plan to establish a joint venture company with the vendor, to provide BPO services basedon the Avaloq platform to banks in the Benelux region.
In a statement provided to IBS, the bank said: ‘BIL and
Avaloq have agreed to end the discussion regarding the creation of a joint BPO centre in Luxembourg.’ In addition, ‘BIL will continue to work with its own core banking system’. It was understood that the biggest stumbling point between the two
parties was the doubling of the originally estimated
budget.In fact, this episode did not stop BIL Suisse signing with Avaloq in Q1 2015.
Netherlands
The four largest banks have a combined share of total assets of 80 per cent and have 95 per cent of consumers as customers. They have tended to revert to ‘back to basics’ banking, particularly focused on taking deposits and making loans. There are also domestic mid-tier players such as Van Lanschot and specialists such as Triodos Bank.
The track-record of Dutch banks with new systems has been
poor, with Temenos in particular having a succession of failures a few years ago. Oracle FSS/I-flex has traditionally done better and this was the Indian company’s first market of focus whenit arrived on the European mainland with Flexcube.
Of domestic suppliers, All share has a small user base (eight
domestic players) but has lacked new sales. On the lending side, there is a Dutch base for Component Banker, an acquisition in 2007 by Sopra from domestic Dutch supplier, Business Architects. It is intended to complement this supplier’s established Evolan lending suite.
There is also Able, Binck Bank’s IT and services arm, which provides the Syntel (now known as Europort+) system to banks on an onsite and BPO basis. There are around14 Europort+takers. Inlate 2013, Binck Bank announced its intention to sell the Able business (there had been no sale by the end of 2014 and it was announced that the BPO services would be gradually phased out).
There are a couple of emerging suppliers. Five Degrees has a
front, middle and – it is claimed – back office lending solution. Its product stems from the technology that underpinned failed Icelandic financial institution, Ice save, with the IPR bought for a nominal amount (this explains why its other office, aside from Breukelen, is in Reykjavik, along with a number of the developers). Knab, which uses the middle office in front of Thaler/Sopra Banking Platform, is one of the initial customers; Crédit Agricole Consumer Finance in the Netherlands was taker number two.
Another emerging Dutch player is Amsterdam-based
Ohpen, which has a front-to-back office system for mutual funds and savings accounts, with Robeco as its first user.
While the Netherlands saw seven selections in 2011 and
three in 2012 (so more deals than most in Western Europe the last few years), there have been none of the core selections by mid-tier Dutch banks of the pre-crisis years (rather too many of which ended in failure, for different reasons, including a high profile one at Van Lanschot, with ERI’s Olympic as part of this).
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