Core Banking System

Banka Kovanica in core banking system revamp with ABBA

Croatia-based banking software developer, ABBA, has gained a new taker of its flagship core banking system, NovaDoba. This is a local bank, Banka Kovanica d.d. Varaždin. The agreement was signed in early March, “following months of negotiations”, says the vendor. The work on data migration and the implementation of the new solution has already begun. […]

Aktia Bank signs for Accuity’s Global WatchList, perseveres with core system conversion

Finland-based Aktia Bank is implementing Accuity’s Global WatchList to provide regulatory sanctions and other compliance data. The solution covers politically exposed persons (PEPs), companies, vessels, goods, countries and payment information. Accuity says that Aktia’s decision to sign for the Global WatchList was driven by the compliance needs and the need to improve the efficiency of […]

Infrasoft’s core banking system scores with Indian co-operatives

Tamil Nadu State Federation of Urban Cooperative Banks (Tancubfed) has selected Infrasoft Technologies’ core banking system, OmniEnterprise. Tancubfed will implement OmniEnterprise and other e-banking services in 128 co-operative banks in Tamil Nadu, a southeast Indian state. Rajesh Mirjankar, new CEO and MD of Infrasoft, says OmniEnterprise will support the entire business operations of the bank […]

Half of retail banks say branches to disappear within five years

Almost 50% of retail banks worldwide believe the rise of digital will bring an end to branch-based banking, according to a study by Temenos. “Retail Banking: In Tech We Trust”, the third annual study of retail banks produced in association with the Economist Intelligence Unit, reveals that banks perceive the threat from tech companies operating […]

AnaCap buys more NPLs in Italy; plans digital bank in the UK

AnaCap Financial Partners, a private equity firm based in the UK, has acquired non-performing loans (NPLs) of Royal Bank of Scotland (RBS) and GE Capital Real Estate in Italy. It is also understood to be crystallising a strategy to launch a new digital bank in the UK. The acquisitive PE firm has gained over €2 […]

Al Ahli Bank of Kuwait selects Infosys’ Finacle for tech revamp

Al Ahli Bank of Kuwait (ABK) has picked Infosys’ Finacle suite to replace Misys’ products as part of its technology revamp. The bank will deploy the complete suite of Finacle solutions, including core banking, trade finance, wealth management, CRM, e-banking, payments, treasury, alerts, SMS banking, liquidity management, retail and corporate loan origination. Abdulla Alsumait, deputy […]

Out of Africa for Barclays as profit falls

Barclays is leaving Africa as it looks to consolidate the group and increase shareholder returns after a 2% drop in full-year profit. The bank will sell its 62% stake in Barclays Africa Group Limited (BAGL) over the coming few years and then focus on two divisions – Barclays UK and Barclays Corporate and International. BAGL […]

New core software deal for Temenos in the UK

British Arab Commercial Bank (BACB) is looking to modernise its core software. It is believed the bank has settled for a new platform – Temenos’ T24. BACB is a London-based wholesale bank that specialises in trade finance and treasury services to Africa and the Middle East. The bank has been in the system selection mode […]

Nymbus teams with Geezeo for personal finance push

US core banking software vendor Nymbus has teamed up with Geezeo, a white-label personal finance management (PFM) provider for banks and credit unions. Nymbus launched last year with a flurry of Star Wars-inspired quotes. It is looking to work with financial institutions (FIs) and compete with banking behemoths and the neo banks. The vendor sees […]

New digital bank powered by Temenos’ front-to-back office platform

EQ Bank, a new pure-play digital bank in Canada, has opened its virtual doors. It is underpinned by the front-to-back office software from Temenos. The bank is using Temenos’ T24 core banking system at the back-end and Temenos Connect for digital channels at the front-end. It is also using Insight BI for business intelligence and […]

Avaloq migrates KBL Switzerland to BIL Suisse’s BPO solution

Avaloq Sourcing Switzerland, Avaloq’s business process outsourcing (BPO) subsidiary (previously B-Source), has migrated KBL Switzerland to the BPO platform of Banque Internationale à Luxembourg (BIL Suisse). The BPO solution is based on the vendor’s flagship core banking platform, Avaloq Banking Suite, and the migration took five months. BIL Suisse acquired the Swiss subsidiary of KBL […]

Banks back Temenos’ refinancing with new $500m facility

Temenos is refinancing its existing banking facilities to the tune of a $500 million new facility. The Swiss software vendor says it has “taken advantage of current market conditions to lock in low-cost long term financing” through a new $500 million banking facility, consisting of a five-year revolving credit facility which expires in 2021. The […]

Fiserv’s CUnify core processing system bags 25 US credit unions

Fiserv has revealed that 25 US credit unions, with approximately $2.5 billion in assets and 250,000 members collectively, have committed to its CUnify account processing platform. Five of these credit unions are new core processing clients of Fiserv, and will be converting to CUnify in the course of 2016. CUnify is a core platform used […]

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 […]