plans for reform of the country’s banking system had seen a raft of mergers, with the number of banks dropping from 57 to 39 by March 2009.
Since 2009, Egypt has produced few deals. The only ones in
2012 were relatively small, from Faisal Islamic Bank (FIB) for ITS’s Ethix, and National Bank of Abu Dhabi, for Polaris’ Intellect Core. FIB offers universal banking services in accordance with Shari’ah principles and has 29 branches across the country. It selected the Ethix platform following a year-long selection, carried out with the assistance of Ernst & Young. The project was delayed but continued during the upheaval, with a revised cut over date set for March 2014. ITS claims three other Ethix users in Egypt, comprising National Bank of Egypt(NBE), BLOM Bank and Abu Dhabi Islamic Bank.
In 2013, Misys had a Kondor+ win and Temenos gained Arab
Investment Bank Egypt (AIBK). The latter took T24 and a range of other applications, aiming for a first cut over in head office and two branches in July 2014. Part of the plan includes Shari’ah banking. During the selection, the bank talked to Temenos customers in the country (the supplier claims ten of these), and visited Suez Canal Bank. In 2015, Temenos had 1 more win with Arab African International Bank selecting T24.
2014 saw a pick-up in activity, with five wins. An interesting deal went to Oracle FSS, with Flexcube chosen by Bank Audi (a deal which also included Iraq). Flexcube also won an additional deal for Oracle FSS in 2015. Being replaced in Egypt is the bank’s legacy Bank Mate offering from French vendor, Capital Banking Solutions, which is also a subsidiary of the Lebanese bank. Another foreign bank making a selection was Qatar National Bank Al Ahli, choosing Ethix.
One local vendor is B&F Soft, although most of its core
banking system activities have been outside its home country(in Libya) to date. In Egypt, it is a long-standing provider of the Turbo Swift Swift interface device which now resides with Fundtech. Polaris Software, the company which got it self rebranded as Intellect Design, saw its lending module being selected by National bank of Kuwait for the Egyptian operations.
The year 2016 was relatively quiet with only FIS scoring a deal for its Ambit Quantum treasury system.
Ethiopia
Ethiopia was a busy market for core systems between 2010 and 2012, with a largely regulatory-drivenflurry of selection processes that peaked in 2010 when seven deals were signed. The National Bank of Ethiopia had mandated its member banks to automate their services. Part of the initiative included a national payment system to facilitate automated settlements
and inter-bank money transfers. Three of the 2010 deals went to Temenos, two to Oracle FSS
and two to India-based Infrasoft with its Omni Enterprise system. This compared with a couple of small deals in 2009 (one each for Infrasoft and Neptune) and the same number in 2008 (Neptune and Temenos).
By 2011 this round of regulatory-drivenactivity had largely
abated, with the only deal in the country, at NIB Ethiopia, going Temenos’ way. NIB International Bank was Temenos’ fifth customer in the country, andhad50 branches. Temenos has picked two more customers since then – in 2012 and the more recent signing in 2016 with Cooperative Bank of Oromia.
In 2012, there was something of a pick-up. Misys recorded a
Bank fusion Universal Banking win at Awash International Bank (to replace its old Bank master system), Infosys had success at Bunna International Bank, Polaris at National Bank of Ethiopia, Infrasoft claimed start-up, Addis International Bank, and there was one small Temenos success.
The project at Bunna International Bank looked fairly typical
and was part of the bank’s expansionstrategy. The bank had 17 branches at the time of the selection but, with new technology in place, plannedto doubleits network within thenext few months. Finacle was takenfor retail, corporateand trade operations, front-to-back office.
National Bank of Ethiopia itself selecteda newcore system, taking Polaris’ Intellect, in its QuantumIntellect form (tailored for central banks). It signed in Q3 2012 and set about replacing Bank master, cutting over after a delayed project in November 2013.
During 2012, in a second phase of regulatory intervention,
the central bank paved the way for eleven new banks, driving some of the activity. There were a number of selections running in 2012 and 2013 as a result, but not all were conclusive. During Q3 2013, Enat Bank was preparing a new tender for a core banking system. It was thought that the start-up bank selected Omni Enterprise from Infrasoft in Q3 2012 but the vendor later confirmed that the deal had fallen through. The selection continued through2014.
Debub Global Bank was known to be seeking a new core
banking system during 2012 but the decision was deferred. In August 2012,the start-up had reportedly drawn up a shortlist of Infrasoft, Oracle FSS, Temenos, Delta Informatique and Neptune Software. However, one month later IBS was told thatthe bank was evaluating domestic vendors only. In the end, in 2014, it contributed the only selection in the country, opting for Flexcube.
Despite the set back at Enat, Infrasoft is relatively well Market Dynamics Report 2017 |
www.ibsintelligence.com
entrenched in Ethiopia and has a partner in Fairfax 71
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