Breaking News and Top Stories
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
Vertem Asset Management has become the first client of the joint venture between Third Financial and Sapia Investment Services in the UK, a start-up division of Sapia Partners. The partnership sees Third Financial deliver its Tercero wealth management system on a hosted basis to Sapia, which then provides investment management services to boutique wealth managers and IFAs.
Adding to its stable of European core banking vendors, Sopra is acquiring COR&FJA, a domestic supplier in Germany.
Indian agricultural bank, Odisha Gramya Bank, is to standardise its operations with Infosys' Finacle core banking system. The bank was established earlier this year and is an amalgamation of three agricultural banks, two of which are existing Finacle users. HP has been recruited as system integrator in a five-year services deal, and the project is set to commence imminently.
Finland-based Aktia Bank will replace its legacy solution with the retail version of Temenos' T24 Model Bank offering on a hosted basis. The bank is expected to pump €30 million into the project, and subsequently predicts running cost savings of €5 million a year with the new set-up.
Bharatiya Mahila Bank, India's first bank catering exclusively for women, is about to launch on the Profile core banking system from US-based supplier, FIS. The bank has opted for a 'pay per use' hosted model and chose FIS over rival vendors Infosys, Polaris and TCS.