for the end of 2010. ERI’s other 2010 project, at Caisse de Dépot et de Gestion (CDG) Capital, was completed in mid-2012. This was also for the Oracle and Unix version.
2010 also saw a first win in the country from ERI’s private
banking rival, Avaloq, at CFG Group. And Attijariwafa was a not able win for Callataÿ & Wouters’ Thaler (now Sopra Banking Platform from Sopra Banking Software). The bank is a heavy user of the Delta Informatique-derived Delta- Bank (which also now resides with Sopra), having signed for a multisite roll-out, including Morocco, in late 2007. Nucleus and Murex contributed the other 2010 wins in the country.
Probably reflecting the political upheavals in North Africa,
there were no known new core banking selections in Morocco in 2011, 2012 or 2013, bar what ERI claimed was a separate selection at the parent of CDG in 2011.
The market is one of the most liberalised in North Africa.
Nonetheless, it is highly concentrated, with the six largest banks accounting for 85 per cent of banking sector assets. The three largest are Attijariwafa Bank, Banque Centrale Populaire(BCP) and BMCE Bank. Currently there are no Islamic banks in Morocco although in early 2012 it was reported that Qatar International Islamic Bank (QIIB), inspired by the election to power in Morocco in late 2011 of the Islamist Justice and Development Party, had set out plans for establishing an Islamic investment bank and insurance company in Morocco. More generally, it is expected that the country will come to embrace Shari’ah banking and finance in the next few years.
After the lull of the previous few years, there were three
decisions in 2014. The standout one was from Fondep, a microfinance organisation with 175 branches. It was targeting a mid-2015 go-live with Infosys’ Finacle. It is the first Finacle user in the country and work started to translate the solution into French. Fondep had around 130,000 clients and around $100 million of loans outstanding In 2015 , Temenos won2 deals while Murex MX3 was selected by 1 Bank.2016 saw three off- the-record deals signed, split equally between Sopra Banking Software, Path Solution and ITS.
Mozambique
Portuguese supplier, Exictos, and the UK based Misys have been main stays in this African country over the years. Temenos has had a few takers (including deals in 2007 and 2010), there are a few old Flexcube sites, and this was one of the first countries of focus for Standard Bank’s multi site roll-out of Infosys’ Finacle, as well as for Lets he go’s pan-African roll-out of TCS’s Bancs.
2011 and 2012 were both blank years for new-name sales in the country. However, there were two deals in 2013. Exictos
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added another, International Commercial Bank, while Misys picked up a Kondor+ win. Exictos was a winner again in 2014, at Banco Mercantil de Investimentos, a commercial bank that has beenoperationalsince 2001, while Indian supplier, Trust Systems, had a breakthrough, at Caixa Comunitária de Microfinancas (CCOM), a microfinance institution.
It remains a poor country, al be it with more stability than in
two decades of civil war, ending in 1992, and with a relatively steady growth in GDP. At the end of 2012, there were 20 banks registered, with three accounting for around 75 per cent of total assets. The largest is Banco Internacional de Mocambique, which is majority owned by Banco Comercial Portugues, followed by BCI-Fomento, which also has Portuguese ownership, and Standard Bank. In 2015, Misys picked up two more deals, one each for its Kondor+ and Midas systems. There were no deals reported in 2016.
Nigeria
This is a market that has seldom seen a dull moment, whether for banking perseor core banking system sales. It has yo-yoed markedly, with this mostly for regulatory reasons.
Sales in Nigeria peaked in 2007 (17) and 2008 (22), then saw
a steepdip in 2009 (six), a further drop in 2010 to a mere four, another drop to three in 2011, and four in 2012. This has been the clearest regional slump since 2009 but sales edged up again in 2013, to six, then down again to three in 2014.
In 2009, there were shock-waves from a move by the central
bank to inject $2. 6 billion into five banks and sack their managers. The regulator said the banks were under- capitalisedandposedarisk to the system. The banks affected accounted for 40 percent of the market and comprised Afribank, Finbank, Intercontinental Bank, Oceanic Bank and Union Bank. Not surprisingly, this hardly made for an environment conducive to IT investment and the situation was not helped by economic issues and political uncertainty.
It should be pointed out that the drop in sales from 2008 to
2009 in Nigeria appeared slightly more pronounced than was actually the case because we decided to remove the Equinox system of Nigeria/UK-based Neptune Software from the analysis. This was due to the fact that Equinox ended up as a solution solely for microfinance, stemming from the arrival of the supplier’s new core universal system, Rubikon. Neptune had twelve wins for Equinox in 2009, all seemingly in the microfinance sector, with seven of these in Nigeria. The previous year, it had recorded18 deals for Equinox, with an ever increasing number in the microfinance category but with a less clear-cut situation than in 2009.
In fact, sales of Equinox itself have fallen steeply, with only Market Dynamics Report 2017 |
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