May IBS Journal out now!
Featuring a round-up of the banking tech space happenings, including major takeovers, new signings and project fails, plus the latest gossip. Unbiased and detailed case studies include National Bank of Canada and Keybank. Plus, we unveil and analyse the results of the IBS Islamic Banking Sales League Table.
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FREE Supplement: AML, Compliance & Regulations
Once a back-water and tick-box exercise, AML is now centre stage. It has been a painful conversion for banks, with eye-watering fines and significant brand damage along the way. The debate is now centred around what constitutes best practice, particularly in light of impending new regulations.
2015 Core Banking Systems Market Dynamics Report
Our Core Banking Systems Market Dynamics Report 2015 is now available. It provides valuable information and insight into the core banking systems market, covering universal, wholesale, retail, private and lending.
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Banking technology news from across the globe
Aviva’s GBP 5.6bn acquisition of Friends Life Group in early December stole the limelight as the month’s largest and most significant financial services transactions in an effort to further boost the FTSE company’s UK coverage. The deal was structured as an all-share transaction and is estimated to prove GBP 1.8bn of cost synergies while increasing Aviva’s assets under management by 29%. The deal could spur some later divestments, with Aviva reportedly looking to sell part of Friends Provident International (FPI) in Asia.
UK-based lender Sainsbury’s Bank suffered a systems outage last week, leaving its customers without access to their savings accounts or able to make credit card payments. The bank is in the midst of a multi-million pound project to shift its core banking systems to an outsourced version of FIS’s Profile.
US-based cloud computing specialist, Zumasys, has acquired the non-banking part of the jBase database business. Temenos assures that there will be no impact on T24 customers.
Charter Savings Bank has been granted a banking licence in the UK and is gearing up for launch shortly. Its proposition is online and telephone banking services for savers.
Broadridge has completed the acquisition of US-based back office FX processing specialist, TwoFour Systems. The new software will reside in Broadridge's global technology and operations division, under the name of Broadridge FXL.
Central African States Development Bank (known as BDEAC) has issued a tender for several new software applications, including new core banking, risk management and budget management systems. The bank is an offshoot of the Bank of Central African States (BEAC), which serves Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea and Gabon.