Further progress


New wins for CapitalBanker in 2010, as well as Babylon Bank in Iraq, were a small entity in Lebanon called Iris Capital Securities and Banque Agricole de Niger (Bagri). In the Middle East, SAB and BML are common competitors; in Africa, it was often Delta Informatique, with the heavyweights – Temenos and Oracle FSS – also frequently in the mix. As of the second half of 2011, Delta gained a larger parent, when it was acquired by another French company, Sopra Banking Group. The Tekline-derived Capital Private Banking system


includes a portfolio management front-end, with support for relationship managers, including pricing and modelling, plus a CRM layer and anti-money laundering facilities. A compliance module can be sold as a standalone solution. Banque Atlantique in Luxembourg and ASPB in Lebanon have CapitalBanker and Capital Private Banking. The Tekline product has also been linked to the likes of Samic and T24. The customers are mostly in France and include some notable names, such as Rothschild & Cie Banque, HSBC Private Bank, and Allianz. Bank Audi is a user in Switzerland. The Adtek-derived Bankmate is still marketed in its


geographical areas of strength but clearly the old technology might work against it in sales situations – the Cobol core remains and it is still tied to the IBM iSeries. It is now branded as PowerBanker. Once the new user interface had been applied to this and CGB, the plan was to do the same with the e-banking front-end that was being built for Bank Audi and then extend the retail processes to eventually cover all core banking within a single platform. In fact, the main Bankmate user, Bank Audi, opted in Q1


2014 for Oracle FSS’s Flexcube for its subsidiaries in Egypt and Iraq. Egypt would replace Bankmate; Iraq was a new location. The project in Iraq had a planned go-live date of September 2014 while the Egypt project, due to begin in mid-April 2014, was provisioned to span around two years. While the Bank Audi group – which owned Capital Banking Solutions, of course – was a long-standing user of CapitalBanker, having rolled out the solution across nine locations including Turkey, Saudi Arabia and Qatar. It also already used a number of Oracle FSS applications such as a Human Resource Management System (HRMS), an Integrated Finance and Risk Management (IFRM) solution and middleware. Flexcube’s internet banking application was also being used in Lebanon. The decision to select a new core banking system was


made around three years earlier. Danny Dagher, CIO of Bank Audi, commented: ‘Our legacy core banking system no longer catered for the bank’s growing needs and it lacked


agility in meeting requirements.’ There was a ‘very lengthy’ selection process and a shortlist featuring Flexcube and two other vendor solutions. Bank Audi was in search of a system which would ‘architecturally fit’ within the bank, and for a vendor which could provide end-to-end execution of the core banking implementation. He said: ‘We have subsidiaries in some parts of the world where there are additional factors to the execution risk. Oracle FSS’s competitors didn’t show a great track-record in delivering core banking implementations, which is why we went with Oracle FSS.’ The contract between the two parties was signed in February 2014. Upon completion of the projects in Egypt and Iraq, he said Bank Audi may consider rolling out the system to its other subsidiaries. For CapitalBanker, the sales force has been increased in the last few years. In terms of support for Shari’ah banking, functionality was being developed in 2013, with a solution called CapitalBanker for Islamic Banking being available in 2014/2015. The vendor claims that its Islamic solution provides support for key functionalities such as accounting, financial reporting, customer relationship management, compliance, regulatory reporting, business intelligence, risk management and multi-channel support. Capital Banking also states that the technology can be deployed standalone or integrated with conventional banking operations, allowing for different levels of integration for teller services, bank accounts and P&L. Specifically, the Islamic version offers support in the following Shari’ah compliant areas: wadiah, murabaha, reverse murabaha, mudaraba, musharaka, ijara, ijara wa iktina, istisna and salam. Overall, being able to offer a fully hosted option would seem to be a strength, with Capital Outsourcing able to do so for non-core areas such as telecoms plus other areas of banking, such as trade finance (it handles this for Bank Audi), plus hosting CapitalBanker itself. It also has a cheque clearing solution that is used by Ecobank and Société Générale in Africa, among others. And it has a hosted Swift connectivity service based on SwiftAlliance. It doesn’t provide business process outsourcing (BPO) per se, said general manager, Michel Tueni, but does provide some back office services, such as checking files received for clearing. There were a couple of core banking implementations


in West Africa during 2011. These were at Sonapost (the company responsible for the postal service in Burkina Faso), and Cofipa, a small retail bank in the Ivory Coast. It was a small bank with about 50 employees and two branches at


Universal Banking Systems Market Report | www.ibsintelligence.com 61


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