Ethix core system from Middle East supplier, International Turnkey Systems (ITS), to replace Neptune’s Equinox.
Misys has also gained upgrades. ZB Bank opted for
Bankfusion Equation in 2011, and so did Renaissance Merchant Bank, a long-standing Equation and Trade Innovation user. Also in 2011, the newly-formed Interfin Bank (created by merging Century Bank/CFX Bank and Interfin Merchant Bank) signed for Bankfusion Equation. Century Bank had been an Equation user, while Interfin Merchant Bank had run Flexcube. The deal to standardise the systems at the mergedentity was won by Misys against Oracle FSS and Temenos. However, Interfin was placed into curatorship by the Reserve Bank of Zimbabwe in 2012 (extended until the end of 2014).
The 2013 deal was from Tetrad Investment Bank, which was
moving from merchant bank to commercial bank status. The wide-rangingdeal with Infosys covers the core, CRM, wealth, online banking and mobile. Nucleus picked up the only deal on offer in 2014.
Zimbabwe has 26 banks, 16 asset management companies
and 172 microfinance institutions under the supervision of the Reserve Bank. Several banks have been closed in recent years and the central bank increased capital requirements by tenfold in 2012 to try to bring stability. One move that might stimulate additional systems demand in Zimbabwe is the government’s enthusiasm to introduce Islamic banking.
Harare International Airport, Zimbabwe
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Market Dynamics Report 2017 |
www.ibsintelligence.com
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