cash credit accounts and cumulative deposit accounts. SCS was clearly hopeful that it could build on the foothold at ING Vysya (as it was now branded). Indeed, there was a huge amount of activity in the country, with many other banks also heading for new back office systems. However, ING Vysya remained the only success for Profile, with Infosys and I-flex solutions picking up the bulk of the domestic wins, alongside the combination of TCS and FNS with the latter’s Bancs (subsequently bought by TCS). In November 2014, the long-term use of Profile at ING


Vysya was thrown into question when it was announced that the bank was to be bought by Kotak Mahindra Bank, thereby creating the fourth largest lender in the private sector in India. Kotak Mahindra had been using Infosys’ Finacle for the previous five years or so. In 2013/4, ING Vysya had gone through an extensive IT modernisation exercise, including a major upgrade of Profile, a new data centre, and launching a mobile/smartphone banking solution. The bank’s CIO at the time, C V G Prasad, stated that the bank’s IT spend was ‘viewed as investment, not cost’, and hence it was ‘all strategic in nature’. Speaking in February 2015, Jaimin Bhatt, president and group CFO at Kotak Mahindra Bank, said a decision regarding which core system to use going forward had not been taken yet. As mentioned earlier, Poland was a successful stomping


ground for Sanchez. Bank Handlowy was significant but fell off the list when acquired by Citibank. Around mid-2001, Inteligo went live with Profile to support a service initially centred on a checking account aimed at individuals and small businesses, with aggressive interest rates. It was a joint venture between Bankgesellschaft Berlin (renamed Landesbank Berlin Holding after its takeover by the German Federation of Savings Banks In 2007) and Inteligo Financial Services. Gornoslaski Bank Gospodarczy (GBG) became the fifth Polish taker for Profile in November 2001. Based in Katowice, it was part-owned by PBK, already a Profile user (however, Gornoslaski Bank is now owned by the Getin Holding Group, following PBK’s sale of its shares in 2004). In 2002, Sanchez gained a further deal in Poland, via Computerland, from Invest-Bank, then Bank Amerykanski w Polsce, the following year. The Warsaw- based bank was a member of the DZ Bank Group (and was rebranded as DZ Bank Polska), and focused on corporate and private banking. Again, it took Profile via Computerland. However, despite Sanchez’s Polish success, the dominant supplier in this country at the time was still Fiserv. Scotiabank signed for Profile in mid-2002 to handle


its mortgage processing across 1000 branches and four call centres. The deal included Xpress and WebCSR. The Canadian bank took the software via Sanchez›s long-standing partner and credit union offshoot in that country, Datawest Solutions, and remains a customer today. In 2003, Charles Schwab went live for its direct bank and this is also still a user. Large Thai retail bank, Krung Thai Bank, opted for Profile in the second half of 2002 in preference to Systematics and FNS’s Bancs, to replace a mainframe system called Safe. The bank had 645 branches and over 11 million accounts.


96


The bank was apparently influenced by the experiences of an early Sanchez user in the region, Bumiputra Commerce Finance in Malaysia. Sanchez had been eyeing the region for some time and, to this end, had recruited a local partner in Thailand, TN Information Systems (TNIS), in September of the previous year. TNIS was pivotal in gaining the Krung Thai deal, acting as prime contractor and systems integrator. By October 2004, Krung Thai Bank had gone live in a big bang cutover.


In the UK, an installation of Profile at Scottish Widows


Bank was completed in mid-2005 for the administration of all new business and with migration of all existing accounts due for completion before the end of the year. This represented a further expansion of Profile›s take-up within Lloyds TSB. Scottish Widows Bank was a subsidiary of the UK clearer and previously outsourced its mortgage administration to a third party.


ING’s roll-out continued, with the UK becoming the sixth


operation to go live in 2003. Sumitomo Mitsui migrated its Paris corporate banking operation to Profile in 2003, constituting the fifth live site for this user, following on from the US, Belgium, France and Germany. The largest taker in terms of volumes for a long while


was Investicna a Rozvojova Banka in the Czech Republic. Here, the system came to support over 1.2 million customers and over 120 products off the DEC VMS version of the system. The Czech bank was bought by KBC of Belgium but continued to use Profile. In 2006, Nationwide Bank in the US, a subsidiary of the huge insurance company, signed for Profile on an outsource basis. Nationwide Bank was launched in 2006 when a thrift charter was granted to its parent, Nationwide Financial Services. In April 2007, Wal-Mart de México Bank (acquired by Grupo Financiero Inbursa in 2014), a subsidiary of the US retail giant, selected Profile as its core banking system. Wal- Mart, which was granted a licence in 2006 to organise and operate a bank in Mexico, was aiming to fill a perceived gap in the country’s financial services. The bank was targeting un- banked low income people, and micro and small companies. The first branch was opened in the metropolitan area of Mexico City in the second half of 2007. In Russia, Profile was selected for a first site, Renaissance


Credit, in 2006. The consumer finance specialist used general ledger and central bank reporting systems from local supplier, Diasoft. The Diasoft software was interfaced to Profile to handle Russian accounting and reporting, leaving a relatively vanilla version of the FIS system. FIS and Diasoft worked jointly on the project, with IBM’s Websphere for the integration. The combined platform was meant to support a planned threefold increase in the bank’s business. Hermann Tischendorf, the bank’s SVP and CIO at the time, said: ‘Our intention is to keep Profile as it is in the core area, for one simple reason: when you start to mess around with the core of such systems, you eventually cut yourself off the development roadmap, you cannot upgrade to the newer version of the system anymore.’


Universal Banking Systems Market Report | www.ibsintelligence.com


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