to look is always Avaloq, as it gains the bulk of the large deals that are on offer each year. It was another good year for a supplier that remains in the ascendancy although none of its eight wins were in the category of tier one. Three were deals to traditional, low-endSwiss private banks, with another in Liechtenstein, one for its ASP offering in Germany (BHF-Bank) and two in Singapore (Deutsche Bank and a regional player), plus a notable multi-site deal from Is bank (with something of a retail banking slant to the main country in focus, Germany). The supplier’s largest projects are ongoing, from deals in the previous few years, at the likes of Barclays, HSBC and Westpac.
Of course, when considering private banking, other more
generalist suppliers sometimes gain the nod, as was the case when Julius Baer opted for Temenos’ T24 in early 2015 (Avaloq came second).
It is debatable whether ERI still qualifies as a private banking
specialist because, while this is the focus for most of its user base, deals in recent years have been more diverse, including a line in developing markets central banks. In 2014, it had UK start-up, BFC, which has a high net-worth slant, and a deal with an asset management focus in Kuwait but also the retail- oriented La Poste de la Cote d’Ivoire.
Switzerland-based Sage SA had a notable off-the-record
deal for its Prospero system at a private bank for Singapore and Hong Kong plus a front-to-back office win across wealth management and asset management in the Philippines, and another at a family office in Switzerland.
The deals in this space are considerably fewer than pre-
crisis, with still sparse pickings in the traditional centres, where once the likes of ERI and Sungard (with Apsys, now Ambit Private Banking), made hay.
No where is the impact of M & A more pronounced than in
the treasury and capital markets sector. While the two main suppliers to have avoided the consolidation gained good hauls of deals once more, many other shave fallen away.
Calypso’s 14 new-namedeals was another impressive tally
and included quality as well as quantity. It pulled in the standout deal with the combined selection at two central banks, Banco de Espana and Banque de France. It had three in Africa, with the rest in mainstream trading centres (three in the US, two in Canada, three in Western Europe aside from the central banks, and one in South Africa). It also had one large corporate but these are not included for the Sales League Table.
Murex had a number of corporate deals and pure front office
wins (again, not counted in the table) but plenty that were in scope. There was a wider geographical spread than for Calypso, including a couple in Latin America (one of these was Banco Davivienda in Colombia), China Citic Bank International for
Hong Kong, one in the Middle East (Bank Muscat in Oman) and one in Russia (the aforementioned Absolut Bank).
The Summit system, now Fusion capital Summit, from
Misys, had a win in China, while Fusion capital Opics had a solitary new-namewin as well, in Indonesia, plus a couple of country extensions from existing users. Misys’ Reuters- derived Fusion capital Kondor+gained three deals, in Ghana, Jordan and Vietnam.
Maybe benefitting from the void left by others, Open link
had a good time of things, with seven deals for Findur of which a couple were in Mexico, one in Brazil, and one each in Jamaica, Malaysia, the UK and US.
The same might be the case for Sungard with Ambit
Treasury Management (Quantum, as was),which had a decent haul of ten low-end deals. There was a good geographical mix, with the deals coming in Europe (two each in the UK and Finland), Africa (South Africa, Mauritius and Egypt), and one each in Indonesia, Philippines and Australia. The supplier also had two wins for Front Arena, in Germany and UAE.
It might now be that we have a similar pattern to that much
shorter, severe slump in 1999, when everyone was focused on Y2K. A number of systems never recovered from the downturn and it was, effectively, the end of the road for them as commercial offerings. Then, as looks to be the case now, others bounced back and resumed more or less where they left off.
The end result of this natural and M&A-derived wastage is a
less populated market, which is a problem. Knocking around at the bottom of the Table at present is Oracle’s aforementioned OBP (the one deal in 2015 was for an online loan origination component, so didn’t count as core) but it constitutes a high- endadditionto the market that might make it into the mainstream. Other newcomers are notable by their absence at present but perhaps niche offerings can spread their wings. A system such as Intertech’s Inter-face breaking out of its domestic market might add another relatively new system for banks to evaluate. Spain’s Indra is seeking to do the same with its Itecban core system and another Spanish supplier, Nessa, gained a win in 2013/4 at Banco de la Nacion in Peru as it seeks to take its system to the international markets. Perhaps a supplier such as Sword Apak can now do the same. It could be that it is from such one-countryplayers that new options will emerge for the wider market.
It all adds up to a fragmented picture, with some causes for
optimism, a still tough market, and only a relatively small number of suppliers that are buoyant. Nevertheless, that’s a happier conclusion than for the previous few years.
Market Dynamics Report 2017 |
www.ibsintelligence.com
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