Back Office Systems

See below for a list of independently written IBS Journal news and feature articles and IBS Intelligence Research vendor profiles, case studies and market analysis related to Back Office Systems in order of publication date.

You may also be interested in our Back Office Systems and Suppliers Guide - independent evaluations of 100+ vendors and over 145 of their systems, including verified user lists by country >>

Back office traditionally refers, in the financial world, to the operations areas of the financial institution. The back office conducts functions such as statement preparation; processing and encoding of transaction slips; making and receiving of payments; clearing and settlement of transactions that involve other financial institutions; as well as the operation of the computer systems that are used to process and ‘post’ transactions to customers’ accounts.

Some recent directives such as MiFID have brought some back office activities more into the open by requiring best settlement procedures, fastest payment routing, etc.

Changing a core banking system is probably one of the most complicated and intensive projects faced by IT managers and even the most experienced will approach this task with more than a little apprehension. However, the continual evolution of technology, banking products and regulatory requirements, means a replacement of the core banking system will face every bank sooner or later, regardless of its size, scope of operations and geographical location.

System Selection Best Practice

When a bank decides to select a new core banking system, it is usually because the systems it is using no longer meet commercial or operational goals. For many financial institutions, the path from research and selection to a live implementation of a new system is often long and far from straightforward, with many hurdles and challenges along the way. For any bank engaging in a system selection, the likelihood of something going wrong is high. There is no margin for error, which is why success depends on careful preparation and attention to detail during the all-important selection stages.

You may be interested in our Banking System Selection Best Practice and Risk Mitigation Workshop >>

You may also be interested in our Banking Systems Survey 2012/13: 101 banks across 56 countries share technology plans, priorities, IT budget trends, and other major insights >>

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Article: Nucleus Software: FinnOne

17 May 2013

Detailed profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive customer list for Nucleus FinnOne and a pie chart breaking down implementations by region....

Article: Heritage Bank implements DNA platform from Fiserv/Open Solutions

16 May 2013

US-based Heritage Bank is implementing the DNA offering from Open Solutions (now part of Fiserv) to consolidate its systems and accommodate future growth. The first phase of getting products set up on the DNA system has been completed, and go-live is...

Article: Fiserv: ICBS/Signature

15 May 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Fiserv Signature, including a pie chart breaking...

Article: Associated Banc-Corp implements Sungard for lending

14 May 2013

Associated Banc-Corp, a US-based institution with $23billion in assets, is implementing the Ambit Commercial Lender system from Sungard to cover its end-to-end commercial lending processes. The new platform, selected ahead of 20 other hopefuls,...

Article: Financial Software Systems/Ion Trading: Spectrum

13 May 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for the Financial Software Systems (FSS) Spectrum...

Article: Wall Street Systems: Wallstreet Back Office/FX, Wallstreet Suite

13 May 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Wall Street Systems Wallstreet Back Office/FX and...

Article: Financial Software Systems/Ion Trading: Spectrum

13 May 2013

Contents: Management Summary / Company Details / Origins / Back Office Developments / Spectrum Technical Details / Partners and Expansion / Spectrum Service and Functionality / Acquisition of Spot Systems / Later Progress / The Arrival of Ion...

Article: Wall Street Systems: Wallstreet Back Office/FX, Wallstreet Suite

13 May 2013

Contents: Management Summary / Company Details / Origins Wall Street Systems / Functionality / Wallstreet Back Office/FX Technical Details / E-Commerce / Wallstreet Back Office/FX Service and Functionality / SOCX / RZB and Other Deals / Origins ...

Article: 3i Infotech's first customer in Myanmar implements Kastle Core Banking

09 May 2013

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...

Article: Sainsbury's Bank opts for FIS as banking technology partner

08 May 2013

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...

Article: Latest news on Misys Bankfusion

07 May 2013

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.

Article: Editor's Note – May 2013

07 May 2013

The number of new players in the payments sector seems to multiply by the week. They are queuing up to try to dismantle long-standing value-chains. Just about all of the newcomers are focused on the C2C or B2C spaces, whether domestic or cross-border....

Article: Case study: Home Trust Company – Back to the drawing board

07 May 2013

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...

Article: Direct Banking Focus Case Study: Barclays US – raising the Profile

07 May 2013

When the US subsidiary of retail banking giant, Barclays, decided to venture into the online deposits world, it looked to domestic vendor FIS, with its Profile core banking system. Andrew Harris, director of deposit products at Barclays US, talks...

Article: Direct Banking Focus Case Study: ZUNO – 'less bank, more life'

07 May 2013

ZUNO, a pure-play online bank unveiled by the Raiffeisen group two years ago, has surpassed the €1 billion mark in deposits. Its operations are underpinned by the Finacle core system from Infosys. The system's launch, says ZUNO's CIO and COO, was a...

Article: Direct Banking Focus Case Study: Knab – where the client, 'klant', comes first

07 May 2013

Netherlands-based Knab, a greenfield direct banking subsidiary of the Aegon group, believes the banking market is ripe for diversification. Knab's choice of core banking software is Sopra Banking Platform from Sopra Banking Software (formerly...

Article: Backchat – May 2013

07 May 2013

The latest gossip from around the industry.

Article: Who's Bought What? – May 2013

07 May 2013

A round-up of recent orders in the financial technology sector worldwide. New deals for BML Istisharat, Intrasoft International, Fundtech and Vsoft Corporation.

Article: On the move – May 2013

07 May 2013

A round-up of recent appointments and departures within the industry. New hires at SAP, Accenture, Avaloq and Misys; departures at Rubik Financial, Wolters Kluwer Financial Services and CGI/Logica.

Article: Case study: Soneri Bank – One step ahead

02 May 2013

With financial crimes growing daily, banks are under increased regulatory scrutiny to ensure proper policies, controls and procedures are in place. IBS speaks to Soneri Bank in Pakistan about how strong its prevention of money laundering is and how...

Article: ACI Worldwide – Base24-eps, MTS, UPP

01 May 2013

Contents: Overview / Strengths / Weaknesses / Corporate Overview / Partnership with IBM / History / Product suite / Other Products / Overall Product Strategy / Uptake and Customer Experiences / User List

Article: Midwest Business Solutions selects Vsoft for core banking

01 May 2013

Vsoft Corporation has secured a new taker for its core banking solution, Coresoft, beating heavyweights, Fiserv and Harland Financial Solutions, to the deal. This is Midwest Business Solutions (MBS), a US-based credit union service organisation....

Article: Fundtech onboards new cash management client in the US

01 May 2013

Fundtech has added US-based QCR Holdings to its Cashplus customer base. The new platform, which includes the Smartnav enhancement, will enable QCR to centralise and consolidate all cash management operations of the financial institution and enable...

Article: Brand new core banking offering gains first live site

01 May 2013

Netherlands-based banking software vendor, Ohpen, has gained a first live site for its new system. This is Robeco, an international asset manager with €176 billion under management. 'We are very pleased to have such a major name as our full reference...

Article: Nedbank moves towards core system decision

30 April 2013

South Africa's fourth largest bank is believed to have narrowed its search for a new domestic core banking system to three heavyweights, while questions have arisen about its systems strategy in the rest of Africa.

Article: Wahda Bank live with iMAL core system

29 April 2013

Libya-based Wahda Bank has launched its Islamic banking services range on Path Solutions' iMAL core system. More business in the country is to follow, says the vendor, as domestic banks are mandated to go fully Shari'ah-compliant by 2015. 

Article: Bank Al Muamelat Assahiha in Mauritania goes live with iMAL

26 April 2013

Bank Al Muamelat Assahiha (BMS) has become the third live site in Mauritania for the iMAL core banking system from Kuwait-based Islamic banking software provider, Path Solutions. The vendor was chosen ahead of a spate of regional and international...

Article: UPDATE: Failure of Co-operative Bank and Lloyds merger puts IT issue in spotlight

24 April 2013

As the acquisition of Lloyds' 630+ branch network by fellow UK player, Co-operative Bank, is no more, will Co-op revert to its pre-merger IT roadmap?

Article: Sopra Banking Software fleshes out strategy

24 April 2013

Sopra Banking Software, banking software subsidiary of France-based Sopra Group, has completed the integration. The strategy of the unified entity focuses on two key offerings, Sopra Banking Amplitude and Sopra Banking Platform.

Article: ACI brings Universal Payments Platform to market

24 April 2013

ACI Worldwide has launched a new 'wrapper' payments offering, Universal Payments Platform (UPP), aimed at helping banks to bring together multiple siloed solutions and engines. The vendor describes it as 'paving the way to true enterprise payments'.

Article: Linedata nears go-live at Northeast Investors Trust

24 April 2013

Boston-based mutual fund, Northeast Investors Trust, is nearing go-live of the Linedata Mfact back office accounting software from French vendor, Linedata. The testing phase is nearing completion and cutover is scheduled for late April 2013.

Article: ERI: Olympic Banking System

17 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for ERI Olympic Banking System, including a pie chart...

Article: New core banking system deal for BML Istisharat

17 April 2013

UAE-based Investbank, a long-standing user of Oracle FSS's Flexcube core platform, is expanding to Lebanon. For this greenfield operation, the bank has opted for the ICBS core offering from local vendor BML Istisharat.

Article: China Systems Corporation: CS Eximbills/Eximbills

15 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for China Systems CS Eximbills/Eximbills, including a...

Article: Intrasoft International muscles into African core banking software market

15 April 2013

Greece-based banking software vendor, Intrasoft International, is advancing in Africa with its Profits core system, with a clutch of microfinance clients in Rwanda, a significant win at a Kenyan bank, and a potential win in Uganda.

Article: Fors Banking Systems: Va-Bank

09 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Fors Banking Systems' Va-Bank, including a pie...

Article: Commercial Banking Applications: IBAS GBF

09 April 2013

Contents: Management Summary / Company Details / Origins / Expansion / IBAS GBF Technical Details / Product Development / IBAS GBF Service and Functionality / The Next Generation System / Additional Products and Plans / Revived Sales /...

Article: Information Mosaic: IM Securities

09 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Information Mosaic IM Custody, including a pie chart...

Article: Capgemini reinvigorates partnership with SAP for SAP for Banking

09 April 2013

Capgemini has re-energised its relationship with SAP on the core banking side as it anticipates an increase in the SAP for Banking uptake worldwide. It is now in search of a large-scale SAP for Banking project to participate in. At the same time,...

Article: Top Systems: Topaz Banking

08 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Top Systems Topaz Banking and a pie chart breaking...

Article: People's Bank in South Sudan kicks off Autobanker II deployment

08 April 2013

People's Bank in South Sudan has kicked off its implementation of Autobanker II from Pakistan-based vendor, Autosoft Dynamics. The start-up has become the vendor's fourth core banking client in the country. Go-live is scheduled for early May this...

Article: New Technology Business Solutions: NTBSBanking

05 April 2013

Detailed profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive customer and user list for New Technology Business Solutions, NTBSBanking.

Article: Open Solutions (now part of Fiserv): DNA

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Open Solutions DNA, including a pie chart breaking...

Article: Oracle FSS: Flexcube, OBP

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Oracle FSS Flexcube and OBP, including a pie chart...

Article: Pinnacle Solutions Incorporated: Synergy

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Pinnacle Solutions Synergy.

Article: Probanx: Coreplus

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Probanx Coreplus, including a pie chart breaking down...

Article: R-Style Softlab: RS-Bank

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for R-Style Softlab RS-Bank.

Article: SDS: Geos

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for SDS Geos.

Article: Silverlake Axis: SIBS

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Silverlake Axis SIBS, including a pie chart breaking down...

Article: Simcorp: Simcorp Dimension

05 April 2013

Independently researched profile featuring company status, history, background, future strategy, system functionality and technical specifications, plus an extensive, verified user list for Simcorp Dimension, including a pie chart breaking down the...