with Temenos, according to Open Solutions. Once the dispute was settled, the bank went to market again but this time it did not opt for Open Solutions’ offering, selecting instead FIS’s Profile.


Meanwhile, there was progress at a Mexican start-up bank. This signed in the fourth quarter of 2007 as the first taker in the country for TCBS. The new bank, Banco Deuno, was due to open in the spring. It wanted to go with new technology for this initiative, said Open Solutions’ Goldwasser, and undertook a ‘pretty extensive search’ before making its decision. Prior to the selection, its parent, IXE Banco, evaluated whether it could launch the new bank using its existing systems but decided that this was not feasible, he said.


IXE Banco was based in Mexico City and had 120


branches, assets of $1.5 billion and 240,000 customers. The new institution would be focused on the country’s unbanked, concentrating on consumer loans plus commercial loans for medium and small businesses, with its own brand and national coverage. While this was Open Solutions’ first win in the country, a number of other suppliers were well established here, including Accenture (with its Alnova system), FIS (with Profile), Fiserv and Temenos, either winning deals within established banks or picking up selections at what had been a fairly steady stream of start-ups in the previous few years. The first cut-over in Mexico took place at Banco Deuno in H2 2008. It kicked off with six branches in Mexico City and six in Guadalajara. Deuno commenced operations on 1st October. It was stated not long after that IXE Banco would also take TCBS, with the project having started by this time and due to finish in 2009. Ted Katsorchis, who was in charge of the project for Open Solutions, said ‘we have completed a review of requirements, analysing and estimating development effort. It will not be until probably sometime in mid-November before we can estimate the length of that conversion’. The systems to be replaced at IXE included Harland’s Phoenix, which was being used as a deposit system and, from a local vendor, a loan system. A number of ancillary systems were also set to be replaced, most of which were developed in-house. Despite Deuno being TCBS’s debut site in the country, Katsorchis relayed little difficulty with national idiosyncrasies


or regulations. ‘During the course of the Deuno project, we adapted TCBS to Mexican requirements. The Comision Nacional Bancaria de Valores [CNBV, the regulator] went through a litany of tests, not just of IT but business processes. It was a very thorough examination, but nothing really impeded our progress in any way.’ Katsorchis estimated that perhaps 90 per cent of the ‘off-the-shelf’ TCBS was already well suited to Mexico. He claimed that the feedback from Deuno so far had been positive. Meanwhile, the purpose of finishing at Deuno before moving on to the larger project at IXE Banco was to prevent Open Solutions from ‘reinventing the wheel’. Katsorchis described the market in Mexico as ‘the most active in Central or South America’, with ‘numerous opportunities’. He also viewed Mexico, and IXE, as the ‘gateway’ for Open Solutions into the region. The implementation at Deuno/IXE would provide the vendor with a reference site. Deuno, however, failed to take off and was subsequently rolled into IXE Banco. In November 2010, another local institution, Banorte, announced its intention to buy IXE. The acquisition was approved by the shareholders in Q1 2011. In 2007, Open Solutions claimed a deal in Kenya, which


didn’t come to fruition, apparently due to the upheaval in the country the following year. In 2008, Open Solutions also claimed a deal in China and an ASP win in Thailand. But aside from IXE, it was proving difficult to chart the progress of Open Solutions’ international wins and it had still not even gone public on the ultimately unsuccessful project at BAAC by mid- 2009.


The Thai ASP deal turned out to be SME Bank. By April


2010 it was apparently persevering with the implementation, despite being severely hit by the financial crisis. According to Open Solutions, it was now in ‘the middle of a number of deliverables for the bank’, but offered no further details as the bank had apparently asked Open Solutions ‘not to talk publicly while these deliverables are being made’. According to the vendor’s spokesperson, ‘we suspect it is adopting this stance due to the fact that other banks in the region have talked publicly and then regretted it’.


Universal Banking Systems Market Report | www.ibsintelligence.com


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