offering following a selection process in which Temenos was the other finalist. The last stage of the selection took place in Dubai, and involved a detailed walk through and demonstration of the core banking solutions on offer. Joe Faddoul, CEO of BML, said Somalia as a country lacked banking infrastructure and he predicted that purchasing equipment, building premises and hiring staff would prove challenging, so too the telecoms infrastructure.
Path Solutions gained two wins in 2013 in Somalia, as the
Shari’ah banking sector started to take shape. One of the two start-upswas Premier Bank, signing towards the end of the year.
Prior to this, there was only one bank in the country, apart from the central bank (although it is arguable there wasn’t even a central bank for many years after the fall of the government in 1991). The pioneer was Salaam Somali Bank, which opened in 2009. This was followed by another Mogadishu-based Islamic bank, First Somali Bank, which opened in May 2012. Before then, Somalia relied on informal hawala, or money-changing networks, as sections of the banking industry were blacklisted by the US government as part of the War on Terror. There is now a fully functioning central bank and it might be that other African banks will establish operations. Temenos scored a major win in the country when it got selected by the Central Bank of Somalia for its core banking platform in 2016.
One remittance operator, Amal, chose a core banking solutionduring2013, opting for Banco from Malaysia- based ID Corp. This system was expected to be running in early 2014. It was ID Corp’s first customer in Africa, with the system due to be physically implemented in Dubai to support the Somali money transfer business.
South Africa
In South Africa, a number of the large and mid-tier players have been embroiled for a considerable time in core system implementations at home. Most notable has been Standard Bank with an SAP-centric domestic attempt at a bank-wide overhaul, with important cut overs in 2012 and 2013, following a ‘resetting’ of the project in 2010 (the bank started in 2004 on what should have been a ‘five- year journey’). Mercantile Bank has also been working on a domestic overhaul, with TCS’s Bancs.
In 2010 there was a win for TCS’s Bancs at Ned bank for
securities processing. The other deal was a treasury win at one of the large banks for the Wall street FX system.
There were no deals registered in South Africa in 2011, and a
multi-year slowdown was visible in the sales figures. Seven deals were registered in 2005, three in 2006, six in 2007, and five in 2008 before just one in 2009 and two in 2010.
2012 was a little better, with First Rand Bank signing for FIS with its lending system, ACBS, a treasury deal for Murex with MX.3, and a lending one for SAP. Much of the focus for the large South African banks has been expansion in the rest of the continent, with Standard Bank again standing out, with a major project centred on Infosys’ Finacle.
There was speculation that South Africa’s fourth largest
bank, Ned bank, would be the latest to embarkona domestic core banking system replacement. It was believed that the bank’s long-running search was narrowed to Oracle FSS with Flexcube, TCS with Bancs and Temenos with T24 during 2013. The water was muddied by a question mark over Ned bank’s T24 sites in Lesotho, Malawi, Namibia and Swaziland following its alliance with the largest pan-African bank, Ecobank. The latter is a major user of Oracle FSS’s Flexcube and if, as expected, the emphasis is for Nedbank’s small African network to work with Ecobank, then the speculation is that T24 could be switched off. Amidst this, Oracle FSS claimed a win at Nedbank during 2013.
The other deals in 2013 were for Nucleus and the only non-
US win for Harland Financial Solutions with its Phoenix system, gained via a long-standing partner in the country. It came at National Student Financial Aid, which runs the government’s student loan and bursary scheme. There was only a single selection in 2014, of Sungard’s Ambit Treasury system. In 2015 , 4 deals were awarded , 1 was won by Misys, 2 by SAP for loan management system and Old Mutual awarded TCS , Banc core banking system the deal. The year 2016, treasury, wealth and lending systems stood out with four deals during the year split between Object way, Murex, Calypso and Intellect Design Arena.
Sudan and South Sudan
While now distinct, separate countries, there are links between the banking systems used in each. Africa’s newest, troubled, nation, South Sudan, formed in July 2011, set about building its banking sector, with resultant core banking system selections. To the north, Sudan itself has had a number of selections in the last few years.
In South Sudan, one of the first decisions was by Bank of
South Sudan, the central bank, to take Sungard’s Ambit Retail Banking, which had been used by the central bank in Sudan since 2005. Selections then followed at International Commercial Bank (2011), Eden Commercial Bank and African National Bank (both2012), each choosing the Auto banker system from Pakistan-basedAutosoft. In early
2013, another start-upbank, People’s Bank, headed in the same direction. At the time of the project kick-off, in April,
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