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Spanish global services firm Indra is looking to internationalise its core banking offering, Itecban, which derives from a development project at Caja Madrid (now Bankia) and the resources acquired from Infodesa.
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.