Front 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 Front Office Systems in order of publication date.

We cover front office systems regularly in our flagship IBS Journal. Click here for more information and to subscribe online >>

Traditionally, the front office was the sales area of the bank. In many respects this is still true, with the term often referring to the trading operations (and corporate sales functions) within a financial institution.

In the old model of banking, trades would be conducted in the front office and then handed to the back office for clearing and settlement. The middle office came into being with the development of risk management functions and corporate oversight requirements. Today those divisions are more conceptual than actual with trades being automatically initiated, confirmed, accounted for and settled as a result of straight-through processing.

The term ‘front office’ has recently seen a renaissance in the retail branch banking environment with the increased emphasis on cross-selling and the sales culture that now permeates the retail banking industry. In branch banking, the front office refers to the customer facing and customer service functions. In the private banking / wealth management space, front office can similarly refer to the typically client-facing activities in front of the back office.

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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: 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: 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: 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: 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: TwoFour Systems: TwoFour

05 April 2013

Contents: Management Summary / Company Details / Origins / A First Taker / Additional Signings / TwoFour Technical Details / TwoFour Service and Functionality / Fortis / Sales by Year and Region 2006-2012 / Conclusion / TwoFour User List and ...

Article: On the move – April 2013

04 April 2013

A round-up of recent appointments and departures within the industry. Further reshuffling at 3i Infotech. Temenos, Broadridge, Sofgen and Vocalink are among the companies to announce new hires.

Article: Who's Bought What? – April 2013

04 April 2013

A round-up of recent orders in the financial technology sector worldwide. New deals for NICE Actimize, Smartstream Technologies and Alaric.

Article: Infosys: Finacle Treasury

04 April 2013

Contents: Management Summary / Company Details / Origins / The Roots of Finacle Treasury / Finacle Treasury Technical Details / Credit Suisse / Acquisition by Infosys / Early Finacle Treasury Takers / Finacle Treasury Service and Functionality /...

Article: Misys: Kondor+

04 April 2013

Independently researched profile featuring: Company Details / Overview / Functionality of Kondor+ / Kondor+ under Misys: Positioning and Development Strategy / Company History and Systems Origins / KTP: System Origins, Development and Sales (until...

Article: Case study: ABN Amro – Starting over

04 April 2013

When ABN Amro set about rebuilding its presence around the globe in trade finance, it opted for separate solutions for front and back office and was happy to work with small companies. How have things worked out?

Article: Sungard: Ambit Treasury Management / Quantum, Ambit Treasury Management / Sierra and Front Arena

27 March 2013

Contents: Management Summary / Company Details / Origins – Ambit Treasury Management/Quantum / The Arrival of Sungard / Ambit Treasury Management/Quantum Technical Details / International Expansion / Ambit Treasury Management/Quantum Service and...

Article: Calypso: Calypso

11 March 2013

Contents: Management Summary / Company Details / Origins / Calypso Technical Details / First Takers / A Second Wave of Takers / Calypso Service and Functionality / Functional Developments / Corporate Progress / Success in Japan and Elsewhere /...

Article: Case study: Tinkoff Credit Systems Bank – One of a kind

08 March 2013

Tinkoff Credit Systems Bank (TCS Bank) has a unique place in the Russian market. The brainchild of a well-known entrepreneur, Oleg Tinkov, it was originally modelled on the Capital One bank in the US and is the only bank in Russia today that...

Article: US retail banking systems market analysis 2013 (results Jan-Dec 2012)

06 March 2013

The pick-up in demand for core systems continues to lift the gloom in the US and, although the market is not quite out of the woods yet, there seems to be a universal relief that the progress has been maintained.

Article: On the move – March 2013

06 March 2013

A round-up of recent appointments and departures within the industry. New hires at Alaric Systems, Sentenial and Barclaycard US. 3i Infotech, Misys and Open Solutions announce departures.

Article: Trésorerie Centrale des Dépôts gearing up for CapitalBanker implementation

20 February 2013

Capital Banking Solutions' second customer in the Republic of the Congo, Trésorerie Centrale des Dépôts (TCD), is about to kick off its implementation of CapitalBanker. The work is due to start at the beginning of March and go-live is scheduled for...

Article: Bolsa de Valores de Lima signs for MillenniumIT trading platforms

20 February 2013

Peru-based Bolsa de Valores de Lima (BVL) is preparing to kick off its implementation of the Millennium Exchange and MillenniumSOR platforms owned by the London Stock Exchange (LSE). As well as this, BVL is close to finalising an agreement for a...

Article: Ffastfill next in line to be taken over by Ion Trading

15 February 2013

Ion Trading continues its acquisition spree, with the latest target being Ffastfill, a UK-based provider of front-to-back office derivatives trading solutions on a hosted basis. Ion Trading already holds a quarter of the company's shareholding.

Article: On the move – February 2013

06 February 2013

A round-up of recent appointments and departures within the industry. New arrivals at Fundtech, HML and Volante Technologies. Misys, Openlink Financial and Swift announce departures.

Article: Collateral Management Focus: Collateral damaged

06 February 2013

The idea of giving something of value – collateral – to a lender so they may secure a loan they have given to you is probably as old as banking itself. Of course, no-one wants to give too much collateral compared to the size of the loan and the lender...

Article: Jack Henry & Associates – Silverlake – Universal – Community Bank – US

25 January 2013

New case study in our Core Banking Systems Case Studies Online >> After outsourcing its core processing to Fiserv for over two decades, a...

Article: Banco Espirito Santo in Spain goes live with iBest core banking solution from Incita

18 January 2013

Banco Espirito Santo (BES) has become the second live site for Spain-based Incita's iBest for its Spanish operations. The vendor has recently filled out a series of RFPs in Central and South America, and has high hopes for this region.

Article: Objectway acquires Eximius from Thomson Reuters

16 January 2013

Italian financial software company, Objectway Financial Software, has acquired the eXimius business from Thomson Reuters. The deal was agreed at the end of 2012, and Objectway has already started to cross-market Eximius to its existing client base.

Article: Open Solutions and its debt of nearly $1 billion join Fiserv family

15 January 2013

Fiserv has confirmed it has bought rival Open Solutions. In two years there will be a new core system for credit unions, thrifts and non-traditional banks, offered by Fiserv, consisting of Fiserv's Acumen front-end and Open Solution's DNA core. Its...

Article: Hong Kong Exchanges and Clearing kicks off MillenniumSOR implementation

19 December 2012

Hong Kong Exchanges and Clearing (HKEx) is implementing MillenniumSOR from Sri Lanka-based technology solutions provider, MillenniumIT (owned by the London Stock Exchange), to drive its new Orion Central Gateway. The system is scheduled to go live in...

Article: Community Bank claims progress with Jack Henry

13 December 2012

Since the deployment of Jack Henry's flagship Silverlake core banking system in 2010, New York-based Community Bank has 'not missed a beat'. It has recently acquired branches from HSBC and First Niagara, gone live with a new cheque clearing system,...

Article: JM Finn nearing go-live with Eximius and Beta Global wealth management solution

11 December 2012

UK-based JM Finn is nearing go-live with a wealth management solution from Thomson Reuters. It is the first to take a combination of this supplier's Beta Global back office system and Eximius portfolio management front-end. 

Article: Interview: Tony Prestedge, Nationwide Building Society

03 December 2012

The world's largest building society, Nationwide, has had a fraught few years implementing its new core banking system but it now looks ready to reap the benefits, which could in turn put pressure on its UK competitors. IBS talks to the society's...

Article: Intelligent Environments unveils software platform for digital finance

30 November 2012

UK-based mobile and online banking software specialist, Intelligent Environments (IE), has launched a new integrated platform for digital financial services, Interact. The new solution, which was unveiled on 29th November 2012, has already...

Article: Product spotlight: LendFusion – To tide you over

28 November 2012

As the payday loan industry continues to boom, LendProtect UK and InnoTech have partnered to launch a new online lending solution for the short-term lending market, LendFusion. How and why did they seek to join forces?

Article: Temenos: putting building blocks in place

21 November 2012

David Arnott, CEO of Temenos, gives IBS a first-hand account of what has been going on at Temenos and where the vendor is heading as it reinstates regional teams, continues with its cost-cutting programme and moves its focus to shorter projects...

Article: Autosoft Dynamics gains new takers in South Sudan

20 November 2012

Pakistan-based Autosoft Dynamics has widened its list of clients in South Sudan. The supplier has recently initiated an implementation project at African National Bank and it also went live at Eden Commercial Bank a few weeks ago.

Article: Third Financial nears go-live at Cenkos

09 November 2012

Stockbroking and investment management firm, Cenkos Channel Islands, is nearing go-live of the Tercero software platform from London-based wealth management solutions vendor, Third Financial. The launch is scheduled to take place before the end...

Article: BBVA readies Visa's V.me e-wallet in Spain

06 November 2012

BBVA will be the first bank in Spain to offer V.me, Visa's e-wallet. The V.me project is currently at the pilot phase at the bank and is scheduled to go live by mid-2013 in Spain. Similar ventures are also under way to deploy this digital wallet...

Article: Analysis: Front office systems – Power to the people

05 November 2012

What technology should banks be providing to wealth management customers and IFAs? While traditional private banking has been built around the personal touch, there is a role for online information and facilities on different devices for the wealth...

Article: On the move – November 2012

01 November 2012

A round-up of recent appointments and departures within the industry. Departures at Temenos, Infosys and Alpha Bank plus new hires at Cinnober, Visa International and FNZ among others.

Article: Who's bought what? – November 2012

01 November 2012

A round-up of recent orders in the financial technology sector worldwide. TCS, Sterci and Torstone Technology are among the vendors gaining new deals. Daiwa Capital Markets Europe, Victoriabank and others acquire new software.

Article: Auraportal rolls out BPM solution at Bancafe Panama

16 October 2012

Auraportal, Florida-based provider, has deployed its business process management suite (BPMS) at Bancafe Panama. The provider is currently negotiating with the bank for the implementation of its document management solution.

Article: Third Financial nears go-live at Arbuthnot Latham

15 October 2012

London-based private banker and investment manager, Arbuthnot Latham & Co, is extending the use of Third Financial's Tercero wealth management platform to back office. Meanwhile, co-founder of Third Financial sets up a rival firm, Wealth Dynamix.

Article: IBS Journal Banking Innovation in Asia Supplement

08 October 2012

There is arguably more innovation in some individual banks in Asia Pacific than there is in whole countries in Western Europe. Many are making a major push around channel delivery and social media, prompted by fierce competition and demanding,...

Article: Case study: Mekong Development Bank – Biometrics pioneer

08 October 2012

Mekong Development Bank triples its current account base with the launch of Vietnam's first biometric debit card through Temenos' T24 Biometrics solution, at ATMs across Vietnam.

Article: Handelsbanken Norway extends IT contract with Evry

04 October 2012

Handelsbanken Norway has extended its relationship with Evry to include maintenance of the bank's entire software set-up, so that Handelsbanken's team can concentrate on customer service. The five year contract includes support for a wide range of...

Article: On the move – October 2012

01 October 2012

A round-up of recent appointments and departures within the industry. Departures at Infosys and Sungard plus new hires at HML, Reval and Bottomline Technologies among others.

Article: Dedagroup embarks on major project in the US

26 September 2012

Dedagroup, Italian vendor, is implementing its core banking offering, Bankup, for an American credit union federation, the Community Development Credit Unions (CDCU). The pilot project is taking place at a New York-based credit union as part of the...

Article: Technisys goes live in Banco Improsa with its Cyberbank Core system

25 September 2012

Miami-based, Technisys, has rolled out its core banking solution at a Costa Rican bank, Banco Improsa, one year later than expected. The provider has attributed this delay to its lack of solid experience in core back office implementations.

Article: Eny Finance extends contract with Nucleus Software

24 September 2012

Eny Finance, newly established financial services provider in Switzerland, will be implementing a deposits module in 2013 of FinnOne, from Nucleus Software. The Swiss company is broadening its agreement with Nucleus, having gone live with FinnOne...