MFI wins in the country. Misys had an Opics success in 2013. 2014 was another relatively busy year, with six deals and
with each going to a different supplier. Two were treasury and capital markets in focus, with Calypso and Misys the winners. Two low-end institutions made decisions, with Seeds Funds & Savings Loans, a start-up that was planning to launchin May 2014, choosing Trust Bank and DKM Microfinance selecting ITS’s Ethix. Oracle FSS and Temenos were the other winners, the former gaining Alpha Capital, a start-upthatwas planning to launch in February 2015. Temenos was also shortlisted.
In 2016, the only known signing was for ICS Financial
Systems whose flagship product, ICS Banks was chosen by BOND Savings & Loans Ltd.
Kenya
Kenya has been relatively active throughout the last few years. It is a fairly sophisticated and stable market, open to innovation(most clearly seen with M-Pesa). A disruptor in the market has been Equity Bank, which has gained large market share, including on the back of M-Pesa (now in competition to M-Pesa), and this sort of competition has forced other banks to renew their technology.
Four selections were made in 2010, followed with three in
2011, five in 2012 three in 2013 and two in 2014. The 2010 deals were for 3i Infotech at Bank of Africa and NIC
Bank, Misys at Co-operative Bank of Kenya for its Bank fusion Universal Banking system, and an Oracle FSS Flexcube win at Chase Bank.
The country had generated additional healthy business in
the previous few years (five in 2009 and 2008 and seven in 2007). One of the 2008 deals had been from First Community Bank, an Islamic bank set up in mid-year and taking Path Solutions’ iMAL.
In 2011, Misys had a second Bank fusion deal in the country,
at National Bank of Kenya, with a first phase of this live by the end of March of the following year. The other two 2011 deals went to Temenos, at NIC Bank, the same outfit that had taken a lending system from 3i Infotech the previous year, and Credit Bank.
In 2012, Infosys had two wins for Finacle, Victoria
Commercial Bank and I &M Bank (to add to Equity Bank, Prime Bank and ABC Bank). Greek supplier, Intracom (now Intrasoft), had a somewhat surprising gain in the country, for its Profits system, while Temenos won Fountain Credit Service, a micro finance institution looking to broaden and grow, which opted for T24 on the cloud. Expanding on this, in 2013Kenya-based The Software Group announced a partnership with Temenos to offer T24 on the cloud in East Africa. Also in 2012, Consolidated
Bank of Kenya became the first signing in the country for Polaris’ Intellect, to replace Bank master. The bank was apparently close to cut over in late 2013.
In the low-end space, inthesecondhalfof2013, Neptune was
claiming a couple of successes in Kenya with its Orbit-R MFI solution. The first was Naku Sacco, a Nairobi- based savings and credit co-operative, to replace the Visual Asmas solution from local provider, Computer Castles. The other was Century Deposit Taking Microfinance Limited, to replace Craft Silicon’s Bankers Realm. These joined three others as users, Nawiri Sacco, Fortune Sacco and Molyn Credit. New MFI system supplier, Cloud Lending Inc, has gained two significant customers in Kenya, comprising Hand in Hand International, which operates in East Africa, and Juhudi Kilimo, which is focused on loans for small farmers.
Zenith Bank went live for three days with Temenos’ T24 in
2008beforerevertingtoits old Phoenix system from Kuwait- based ITS (it subsequently moved to the newer Ethix system from ITS). Kenya Commercial Bank has loomed large, selecting Infosys’ Finacle but then having the decision overturned when an inquiry was launched by the government into supposed shady practices. A closely scrutinised new selection ended up with Temenos’ T24, although this seems to have resulted in a fairly painful project. Temenos T24 saw 5 wins in 2015, including one for small and medium enterprise program. In terms of 2013 deals that qualify for the Sales League Table, Path Solutions won two of the three, including National Bank of Kenya, reflecting the pick-up of Shari’ah banking in the country. Nucleus brought in the other win, for Finn One. In 2014, there was a win for Calypso (treasury and capital markets) and Oracle FSS, which was a user of its older Micro banker system but went through a full selection before taking Flexcube. Flexcube also consolidated its positionwith2 wins in 2015. Infosys. Finacle saw 1 win in 2015. The only reported signing in 2016 went to Misys for its Fusion Capital Opics treasury system.
Libya
Libya provided two deals in each of 2009 and 2010, but saw nothing signed in 2011, 2012 or 2013. Nevertheless, it was felt to have considerable potential as it had been decreed that all banks must be Islamic by 2015, with interest banned on all financial transactions. While security issues had prevented core banking selections, it was clearly being eyed by suppliers such as Path Solutions. Libya’s Muslim majority has welcomes the sweeping move towards Shari’ah banking but it has brought strong lobbying from some banks, that want to offer both conventional and Shari’ah finance.
While Path was not a winner in 2014, there were three completed selections, which looked to reflect the regulatory
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