Core Banking System

Aman Bank goes live with Oracle Flexcube core banking system

Libya-based Aman Bank has gone live on Oracle FSS’s Flexcube core banking system – with Oracle’s long-standing integrator JMR Infotech carrying out the implementation. The bank has ditched its legacy system iBank, from Tunisia-based Idee, and Rui Cupertino, deputy chairman at Aman Bank, expects the new system to “deliver significant improvements” and describes it as […]

Albaraka goes live with Infosys’ Finacle core banking system

Albaraka, a Morocco-based microfinance institution, has implemented Infosys’ Finacle core banking system, and customer relationship management (CRM) and wealth management solutions. The institution (formerly known as FONDEP) has ditched its existing core banking system as it plans to expand into retail banking and insurance products distribution. Mouatassim Belghazi, CEO, Albaraka, said with Finacle in place […]

Temenos’ earnings up 23% in FY 2015

Temenos’ earnings have risen by 23% for the full year (FY) 2015 on the back of 52% growth in total software licensing. Along with FY 2015, the vendor reported good results for the fourth quarter of 2015 – its IFRS (International Financial Reporting Standards) revenue was $168.4 million, up from $133.1 million in Q4 2014. […]

FIS predicts 3-4% growth for 2016

FIS, the financial services technology provider which acquired SunGard at the end of 2015, has predicted organic revenue growth of between 3% and 4% in 2016. It reports that 2015 revenue grew by 3% over 2014 to reach US$6.6 billion. “The resilience of our business model characterised by highly recurring revenues and operational efficiencies allowed us […]

Challenger bank Tandem pick Fiserv for core

Tandem Bank has selected the Agiliti technology platform from core system provider Fiserv. The bank received its banking license on 30 November 2015, and is expected to launch later in the year. Focussing on creating what it calls a ‘good bank’ with a heavy emphasis on the needs and behaviours of its customers, it will […]

Rob Binns to join Misys as chief financial officer

Financial software provider Misys has appointed Rob Binns as its chief financial officer. Binns joins Misys from HP where he was head of treasury and investor relations. He joined Hewlett-Packard in 2007 from Mercury Interactive and has held a number of senior finance positions in the company including VP Software Field Operations and VP Investor […]

Emprise Bank picks FIS as core banking provider

Emprise Bank, based in Kansas in the US, has selected FIS as its new core banking provider. The bank, which has $1 billion in assets and 37 branches, selected FIS on the basis of its need for high levels of support, and capacity to provide a single platform that would integrate a set of technologies. That in turn allowed […]

‘Modular’ financial services set to benefit consumers

Financial services are becoming “modular”, with digital distribution platforms, new product providers, alternative sources of capital and a growth in outsourcing likely to reshape the industry, according to a new report by global management consultancy Oliver Wyman.

Banks warned: digitise or die …

Retail banks often claim that customer service is their primary focus, but 75% of banks believe they haven’t concentrated efforts on improving it. Instead, annual reports focus on the financial results. Whether these two stories can become one remains to be seen, according to a new whitepaper by bank technology vendor Misys.

No cloud please, we’re bankers

Despite predictions over the last few years that banks were just a heartbeat away from adopting cloud technology, only 1% of banks are actually running core processing in the cloud today, according to a new report by Temenos.

Systems you just can’t bank on: how legacy has become a liability

Let’s be clear: banks do a very difficult job – they store the value of society expressed as money. We trust them and they can’t get it wrong, but they are nothing but people and IT. Everything they own is on computer and they don’t like to take risks with this. Consequently, IT change for banks has been slow and safe. It has been incremental: bit by bit, byte by byte.

Cometh the Digital Bank

The only banking activity that is digital is taking money out of clients’ accounts, which is performed in real-time with 100% consistency. After that the banking journey is far slower and less consistent.

Cloud: lit from within

Cloud-based technologies are spreading rapidly through the business world: the research firm IDC expects the cloud software market to be worth more than $100 billion by 2018, implying compound annual growth of more than 21%, roughly five times faster than traditional packaged software. It is clear that cloud computing is on course to become an […]

ABN Amro extends Temenos relationship to private banking

ABN Amro plans to implement the Temenos WealthSuite integrated wealth management platform for its international private banking business. It will also be able to extend the use of the T24 core system to its private banking and diamond & jewellery business, giving it one platform with one operating model across multiple business lines.

Yoma Bank Myanmar revamps core banking system

Myanmar’s Yoma Bank is to install a new core banking system provided by vendor Misys, as part of a major transformation project at the privately-owned bank. Yoma especially wanted to be in a position to benefit from the growth of mobile technology in the country.

80% of banks to replace core systems “within five years”

Four out of five banks believe they will have to replace their core banking system in the next three to five years, with nearly 90% in favour of including SaaS or cloud based services as part of the infrastructure, according to a new survey of senior bank executives.

Julius Baer begins core renovation

Swiss private banking group Julius Baer has chosen Temenos for a major core banking system replacement project intended to progressively modernise its front and back office systems globally.

Iceland’s RB makes core banking system replacement

Iceland’s Reikninstofa Bankanna, which is jointly owned by the three main banks in Iceland, has opted for a full core bank replacement project which it says will help it to slash its costs and bring new services to the market more quickly.

Banco Macro opts for cloud

Argentina’s Banco Macro will use the Mambu cloud as the basis for a new business unit, which will offer loans to micro-enterprises and small businesses. The aim is to provide a lifeline to areas that have historically lacked access to financial services.

FCA issues considerations on the procurement of off-the-shelf technology solutions

The Financial Conduct Authority has recently issued a series of “considerations” for firms that are thinking about using third-party technology banking solutions. The considerations do not seek to tell firms how to structure their IT procurements but rather provide a useful framework for firms to demonstrate that their IT services are effective, resilient and secure.

Thai bank turns to real time banking

Young Asian consumers on motorcycles want to be able to start a transaction while riding and finish it at an ATM. For many, that ability is about to become a reality as ASEAN banks switch to real time core banking systems.

New legs for legacy systems

Unlike manufacturing companies, which run their operations on a single predominant ERP system supported by a few auxiliary solutions, banks have added layer upon layer of technology, ending up with an unmanageable snarl of systems and applications. Just to put things in perspective, it is estimated that on average global banks have more than 5,000 applications.

Tisco Bank Thailand opts for FIS core banking tools

Thailand’s Tisco Bank has chosen a new core banking system from US vendor FIS, which it says will help it to provide more real time services to customers. FIS Profile, the core banking solution, is already used by five of the 13 largest banks in Thailand. Florida-based FIS says it will provide the platform as […]

Core modernisation: the risks and the rewards

Core banking system replacement projects are notoriously difficult and disaster-prone, but successful legacy migration and systems modernisation can be shown to improve profitability, at least for smaller banks.

IND acquisition opens chink in competitors’ armour for Misys

The acquisition of digital banking specialist IND Group will give Misys access to parts of its rivals’ customer base that it intends to exploit as it develops its offerings in the digital banking channel, while the closer integration of the IND capabilities will also shore up Misys’ defences against encroachment of its own ageing user base.

Bank of Beirut installs Misys Sophis toolkit

Bank of Beirut has gone live on Misys Sophis Value platform, which the bank says will help it increase its STP rate, manage trade repository and cross-asset collateral and margin, and better interact with Lebanon’s other banks.

Ghanaian institutions modernise to capitalise on economic boom

Ghana. The word means ‘warrior king’, but it also describes a booming country of 24 million people living on the coast of West Africa. It is here that three African financial institutions – City Investments Company, NDK Financial Services and The Royal Bank – are turning to new technology to realise their plans.

FIS: making a mark in mobile

Financial software giant FIS is sitting in the middle of the move to mobile, with its customers serving 21 million users. Doug Brown, senior vice president, e-banking, says that’s just the beginning.

UK building society trio switch to Unisys cloud

Three independent UK building societies – Ipswich, Loughborough and Dudley – have agreed to use a new software as a service solution from Unisys to handle their mortgage and savings accounts. The deal represents the latest move in a series of steps by the UK’s building society sector to adopt cloud platforms.