Breaking News and Top Stories
ERI is belived to have recently signed a deal to replace Misys' Midas core system with its Olympic offering at Luxembourg-based Natixis Bank. Meanwhile, it is understood to have come very close to winning at two core sytsem selections elswhere, but lost in the final stages.Read More
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3i Infotech: Kastle Core Banking, Kastle Treasury, Kastle Asset Liability Management, Kastle Universal Lending19 November 2013
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Also in the News
Myanmar Livestock Fisheries and Development Bank (MLFDB) is implementing the Kastle Core Banking solution from India-based vendor, 3i Infotech, becoming the first client in the country to do so. The customisation stage is currently underway and go-live is set for 24th December 2013.
The introduction of a new SEPA-compliant retail payments system in Estonia has been halted by the Central Bank of Estonia, Eesti Pank. The new system, dubbed EEPS Core, was due to be developed by the central bank and French vendor, Systèmes technologiques d'échange et de traitement (STET), but failed to attract the required number of banks to make the system viable. The incumbent system, ESTA, is expected to continue to be used until an alternative solution can be agreed.
Not since July 2012 have there been a month without a billion-pound-plus deal announced in the financial services sector, but April put paid to that with Protective Life Corp's GBP 692m acquisition of MONY life Insurance ranking as the largest sale, according to Mergermarket data.
Long-known to be heading into the UK banking market with its own fully-owned bank, Sainsbury's has selected a broad hosted service from FIS to underpin this. There will be a phased migration from the systems of Lloyds Bank, which is selling its 50 per cent shareholding in Sainsbury's Bank to J Sainsbury plc.
Two early projects to implement Misys' Bankfusion Universal Banking core system have taken different routes: one bank has finally gone live with the system, but the other one is believed to have given up and to be pondering a new system selection.
Home Trust Company in Canada is reaping the benefits from its enterprise-wide modernisation venture. The project, initiated in late 2007, surpassed the boundaries of a technology revamp by encompassing a full business process reorganisation, an extensive change management programme and a 100 per cent company-wide training scheme. Two members of top-tier management at Home Trust speak frankly about the journey… flaws included.