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There is no escaping the lack of activity in the core banking software market in 2013, despite signs of a recent global economic pick-up. Other research firms may be 'predicting growth' or 'remaining bullish' with their copycat big leagues, waves, quadrants and hype cycles, but at IBS we don't have our head in the clouds and publish what is actually happening out there. It is not pretty, at least not… Read More
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Also in the News
Ireland-based CU Plus, which specialises in Temenos' T24 core banking software services, is closing shop. The vendor is transitioning parts of its business to Temenos and is also about to sell its T24-based debit card offering.
IBS considers the progress of Swiss private bank Lombard Odier in marketing its IT infrastructure to other banks and investment firms. Four institutions now share the infrastructure.
IBS first reported on Lombard Odier's platform offering in July 2012. At that time, Petercam, an investment firm based in Belgium, had recently gone live with a hosting arrangement whereby Lombard Odier, a private bank headquartered in Switzerland, was responsible for Petercam's IT (IBS, July 2012, Case study: Sleeping with the enemy). This raised eyebrows because the two firms were rivals in some ways, but the model has endured so far and Lombard Odier has since found another three takers of its platform. The new customers are Stonehage, a multi-family office, Deka Switzerland, a bank which manages investments on behalf of German savings banks, and Hottinger, a private bank in Switzerland.
The case of Petercam in particular demonstrates that this model may be an attractive alternative to packaged core banking systems, since Petercam had initially attempted to implement... continues (login/subscribe).
February saw just one deal breech the GBP 1bn mark as Pohjola Group of Finland agreed to launch an offer to acquire the 62.8% of Pohjola Bank it does not already own. The deal is valued at GBP 2.806bn and would be financed through a combination of capital and debt.
Slovenská Sporiteľňa, the largest commercial bank in Slovakia, has migrated its SEPA payments functionality from its incumbent core system to the specialised SEPA Gateway product from Dion Global Solutions.
India-based payments supplier, Electracard Services (ECS), has struck a deal with seven Nepalese banks to roll out a shared ATM, POS and EFT payments platform. The new infrastructure will be based on ECS's flagship Electra iTx system.