SLT 2014 | Performance Overview
In fact, the hopes were not realised. Putting things into perspective, the additional slump that was evident in 2013 meant that the number of sales for the core systems covered by the Sales League Table had more than halved since 2008. That 2013 drop came despite signs of economic growth, which rather threw into question earlier conclusions about a correlation between the two. Clearly, they cannot be separated but growing confidence around the globe was not yet, at least, culminating in a pick-up in system replacements.
There were 223 new-namedeals in 2013 compared with 270
in 2012 – not including, as always, business done by domestic suppliers. It rather begged the question: was the decline terminal and were the days of buoyant core system sales never likely to return?
There was a delayed reaction when the economic storms
hit, with many of the selections that were underway still continuing throught of ruition. It was possible to hypothesise that there could be a similar delayed reaction coming out the other side, where by selections started in 2013 but had yet to result in decisions by the end of the year. It also seemed there was still a lack of confidence despite the economic green shoots, with too many doubts still about the medium and long- termoutlook and worries that there could be seismic upheaval to come (including concerns about the dynamics of the Chinese economy).
It also looked as though banks might still be too distracted
by other things, with the investment going instead on channels, payments, risk management and regulatory compliance, rather than core banking replacements.
At face value, Temenos continued to weather the storm
better than most. Its new-namesales held up and it maintained reasonable financial results. If you were looking for a downside, it would be the size and far-flung nature of its T24 successes again in 2013. Every one was in the tier three or, mostly, tier four category. There were no multi site deals beyond a VTB contract with Temenos that spanned corporate banking for Austria, Germany, France and the UK. It looked as though its increase in licence revenues was largely due to sales of other applications or renewal agreements (it shouldn’t be forgotten that Temenos started to switch from perpetual licences to ten-year ones around 2003-5).
In Western Europe, Temenos recorded a domestic retail
deal at Aktia Bank in Finland, KBC in Ireland, plus a wealth management win in Switzerland and the win at VTB. It started to win converts from the out source business that it acquired in the US in Q1 2014, Trinovus, and had one more deal in Canada. Seven wins were in Africa, ten in Asia Pacific/South-East Asia. Of
its two wins in the Middle East, one was Sharjah Islamic Bank, to replace Misys’ Equation. There were also single wins in Mexico, Haiti and El Salvador.
Much the same could be said for Oracle FSS in terms of the
size of its Flex cube deals (which had halved in number over the last few years). It was another year without a single selection for Flex cube in Western Europe. In Central and Eastern Europe, it knocked out Misys’ old Midas system at Volks bank in Romania. Only three were in Africa, out of its tally of 15. One was Ned bank, which tied up with major Flex cube user, Eco bank, for a number of African countries, which would seemingly result in a number of Flex cube roll-outs within the South African bank. Seven were in Asia Pacific/South-EastAsia, three in the Middle East, and a Mexican win was its only one in Central and South America.
The off-the-recordcountfor Oracle FSS? The vendor
submitted 12 of the 15 counted deals as confidential, although as always we picked up the identity of a few others from our day- to-day investigations so were able to move a number of claims to on-the-record.
Oracle FSS also did not claim any deals for its new system,
Oracle Banking Platform (OBP). There were a couple of sightings of this offering, with the supplier known to have been bidding with it at a handful of banks, but the only known takers remained the two in Australia.
Over at Sopra, the Callataÿ & Wouters-derived Thaler, in its
first full year in the French supplier’s hands, won just two deals, comprising China Bank in the Philippines for wealth management and Van Lanschot in Belgium for direct banking. The Delta Informatique-derived Delta-Bank, now Amplitude, had three wins, in Chad, Mauritania and Cameroon. The two systems had recorded five and three wins in 2012.
The one surviving autonomous French rival to Delta Informatique, SAB, seems to be doing well, in part prospering in the void left when Viveo was acquired by Temenos. It had bucked the trend, with seven wins in 2012 and eight in 2013. Of the latest haul, six were in France, one was in Algeria (Banque de Development Local) and it had a not able win in Turkey, Turkish Trade Bank. Several were Viveo replacements.
Among the traditional higher end suppliers, Infosys had a
decent haul of nine wins. It had Heritage Bank in Nigeria, two in the Philippines (Bank of Makati, City state Savings Bank), and others in Malawi, Nepal, Sri Lanka, Zambia and Zimbabwe. However, most not able was a multisite win at ING for Finacle to be used as a current account engine for 28 countries. While Infosys had a foothold in ING in Belgium, we deemed this to be a fully-fledged system selection, as it included a six month proof
Market Dynamics Report 2017 |
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