members, including via issuing bonds on the money markets. An extensive tender process, aided by Ernst & Young, took in 40 vendors, comprising the ‘market leaders’ such as SAP, Oracle FSS, Infosys, Misys, ERI, TCS and Sopra, said Rogier. AFL’s main requirements were for the system to be outsourced, agile, have strong risk management capability, as well as to simplify processes internally, and externally with the local authorities. Rogier suggested that the main reason for the selection of


SAB AT was its ability to meet the full technical and functional requirements via SaaS,


with required functionality not


currently built into SAB AT being provided by third parties. ‘The system also had strong references in similar environments, and SAB is highly qualified to run the project within the short deadlines.’ The modular range of the system included loans, treasury, ALM, bonds, CRM, accounting, compliance and data warehouse. Further afield, SAB signed a promising-looking partnership


agreement with an Indonesian supplier, Collega. This would see SAB AT adapted to local regulations before replacing Collega’s own legacy offering in its 11-strong client base. Of the eleven, four had Shari’ah-compliant subsidiaries, which were included in the scope of the partnership. Collega also possessed a data centre, and would host SAB, allowing it to be sold on a SaaS basis although a deployed configuration would also be available. The first and largest of Collega’s customers, which had more than two million accounts was already underway with a conversion project, and was due to deliver in Q1 of 2014. SAB put the Indonesian venture in context of a global


strategy of expansion, involving more tie-ups of local and regional companies plus growth of its own offices. By now the supplier had more than 670 staff and customers in 25 countries. The strength of the SAB platform in relation to payments


was reflected in a project at Bank of China, which went live in the second half of 2014 for this area for its France-based operations. The project coincided with Bank of China’s overhaul of its core banking system, shifting from the Viveo- derived V.Bank to the in-house platform operated by its parent. The new payments platform was based on the payments module of the SAB AT core banking system. Agnès Bouche, sales manager at SAB, said the bank needed a solution with the relevant interfaces for the local market. The platform supports the management of electronic payments and cheques, client or third party repository, the management of authorisations, pending transactions and accounting schemes, as well as SEPA transactions, she said. This includes incorporating France-specific requirements for electronic cheque clearing, high-value payments (this, in particular, was an important feature, as the bank offers corporate and retail banking services) as well as local requirements around


368


insufficient funds. Bouche said that the payments component of the SAB


AT system was typically offered as part of the core banking offering, but the vendor was now also positioning it as a standalone payments hub. National Bank of Kuwait (a user of the SAB AT core), for instance, was using the payments component as its European payments hub, with a live site in France and plans to launch in the UK for SEPA payments. In terms of new sales, 2014 was not one of the busiest


years for SAB, with only a couple of small, domestic takers (AFL being one of these), although some of the projects from previous years’ sales continued during the year. The year 2015 again was a relatively lean year for the


supplier with only two deals recorded. One of those was as mention with BAMI who came back to SAB for their hosted SaaS solution.


The other deal was with Tunisia-based Stusid Bank (Société


Tuniso-Saoudienne d’Investissement et de Développement). STUSID bank selected the core banking system SAB AT from the vendor. Stusid Bank was set up back in 1981 as the result of an agreement between the governments of Tunisia and Saudi Arabia. Its focus was originally on the expansion of tourism in Sahara, cattle farming and the dairy industry and in 2005 it became a universal bank. As a result of this deal Stusid Bank became the first live site for SAB’s core banking system in the country.


December 2016 saw SAB AT bring on board Banque


Extérieure d’Algérie (BEA) for the supply of SAB AT. The bank had selected the system in March 2016 which was after an almost two year process which was initiated by the bank in 2014. The thorough process began with a scoping study and call for tenders. The Algerian state owned universal bank has 92 branches and is primarily into financing the energy sector and servicing the SME and retail sector. Another deal in the year was in August 2016 when SAB AT was selected by Abu Dhabi based - Reem Finance as its new core banking system, after an extensive evaluation process. SAB AT’s ability to support multiple products and services was a key factor in its selection by Reem, which is aiming to grow in its core market in the UAE. This is the first success for SAB in the core banking sector in the UAE. A significant deal was with HSBC France , which opted for


SAB AT core banking solution for it s IT modernization program. The first SAB AT package as part of the deal was delivered in early 2016 with the go-live scheduled for April 2016. Further deployments are expected to come in 2017 and 2018 with the full implementation expected to happen in 2018. The scope of this project covers both retail and wholesale banking it is understood. The project is being implemented by SAB partners like Capgemini and Move solutions.


Universal Banking Systems Market Report | www.ibsintelligence.com


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