down the years, which have brought mixed results. It has a partnership with Complex Systems (CSI) whereby it sells CSI Banktrade as the trade finance element. A joint project with CSI was completed at Bank of Ceylon in 2005. The partnership was extended in 2006. Another trade finance system which has been interfaced with ICBS and CBS is China Systems’ Eximbills (North Fork Bank in the US and Commercial Bank in Sri Lanka took both). There was also a relationship under which the Boston


Treasury System, which became owned by Thomson Vision (and was rebranded as Vision), was positioned as the wholesale banking element. Fiserv and Thomson forged their partnership towards the end of 1996, when Fiserv went looking for a treasury partner. Fiserv was not a distributor as such, with bids made jointly. A first joint win did not arise until July 1999. This came from Bank of Jamaica. The systems were implemented in the third quarter of 2000. This was Thomson’s first central bank and first Caribbean deal. There was another bank with both systems, in the form of Israel Discount Bank in New York. Here, the Vision sub-ledger fed the ICBS general ledger (Vision did not have its own GL). It is worth noting that Israel Discount Bank had ICBS not CBS despite being in the US. This was because of the need for multi-currency support within an international operation as opposed to a domestic bank. Fiserv embarked on the replacement of rival FIS’s


Bankware system at Bank of the Ozarks, a $6.8 billion regional bank with roots in Arkansas. The bank has grown significantly via acquisitions over the last few years and needed to unify its operations on a common solution, in this case Fiserv’s Premier. UK-based Think Money is gearing up for its new core banking system launch. Its new back office platform is


Expansion and plans


The CBS division grew by 35–40 per cent for each of the last four years of the 1990s (since 2000, Fiserv has not issued separate figures by division). It was divided into four regions – US, Asia Pacific, EMEA (Europe, Middle East and Africa), and Latin America, Caribbean, and Canada. By 2000, it had around 120 staff in Asia Pacific, 200 in EMEA (mostly in London, with an operation opened in Poland in 1998), and 85-90 in Orlando covering the latter areas. Given its sole focus on ICBS and one or two related products, the CBS part of Fiserv represented a sizeable software house and this helped to explain both the healthy sales and active development work. The strong presence in much of the globe clearly helped when competing against rivals, most of which could not muster anything like the same resources. Fiserv also now had IBM working more actively on its side. The first tangible benefit came with an IBM-headed ICBS win at Banif Bank in 1998. The Portuguese bank opted for ICBS in preference to Midas-Kapiti International’s Equation and Andersen Consulting’s Altamira. All three systems already had handfuls of users in the country. IBM and Fiserv signed an agreement in 1998 under which ICBS would be IBM’s AS/400-based retail banking system of choice. Another set of benchmarks, released in August 2000,


showed ICBS processing 50 million accounts in three hours and 57 minutes on a 740-series, twelve-way AS/400. These were followed by further tests in 2003, which showed 7.7 million accounts being processed at end-of-day in just under 30 minutes on an iSeries 890. The split of customers across countries was interesting. ICBS was strong in the Caribbean, where 15 or so users were recruited, it gained six users in the UK, five in Portugal, nine in Indonesia, six in the Philippines (Banco de Oro went live here in January 1999), and six in Thailand. However, it was surprising the number of countries where there was only one user. For instance, its Latin and Central American presence was thinly spread across Colombia, Peru, Venezuela, Mexico, El Salvador, and Honduras. In central and southern Europe it gained one each in Bulgaria, Czech Republic, Greece, Italy, Romania, Russia, Slovak Republic, and Spain. The supplier has seen some shrinkage in its user base. For instance, a clutch of the Indonesian users have disappeared, largely due to bank closures and mergers, with the smaller banks who were the ICBS users failing to survive the economic crisis at the end of the 1990s. ABN Amro started to replace its ICBS sites with Infosys’ Finacle, with the latter system becoming the official package of choice


Universal Banking Systems Market Report | www.ibsintelligence.com 135


provided on a hosted basis by Fiserv’s Agiliti unit. Fiserv snapped up no less than 25 credit unions, at once gaining a set of customers with assets of around $2.5 billion and a customer base of 250,000 in 2016. All 25 of the credit unions opted for the vendor’s CUnify account processing system, with five of the number being completely new core processing clients. Among these is 1st Ed Credit Union, based in Chambersburg, Pennsylvania. With around $125 million in assets and 6,400 members, it selected a stack of solutions from Fiserv including ConvergeIT IVR, Data Vaulting, Digital Document and other tools for eStatements, online banking and call centre functionality. US-based Vibrant Credit Union has completed its conversion to Fiserv’s DNA account processing platform. Vibrant has also implemented a number of integrat-ed solutions from Fiserv including the CRM and Business Intelligence suite, Digital Document, tMagic teller capture, Credit Card Management and other card solutions, Prologue accounting suite, Vantage Risk & Budgeting Manager, and item processing. More than 20 US FIs, ranging from the $18.7 billion First Hawaiian Bank to community banks and credit unions, have chosen Fiserv’s Corillian Online ASP solution in March 2016. This offers a simplified, tablet-inspired user interface that surfaces the most commonly used online banking and payments functionality together on a single page. Fiserv had signed three credit unions in British Columbia, Canada, for its DNA account processing platform. North Peace Savings and Credit Union (NPSCU), Bulkley Valley Credit Union (BVCU) and Spruce Credit Union (SCU), will be aided by Fiserv partner Celero in the conversion of their systems.


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