Temenos to acquire Australian partner Rubik for $50m
Australia-based banking software and services vendor Rubik Financial is to be taken over by Temenos. The deal is valued at $50 million.
Core Banking System
Go-lives power Avaloq revenue rise
Avaloq has reported increases in its revenue and earnings for the 2016 fiscal year – with three new customers and 28 go-live projects completed. The Swiss firm generated full year revenues of CHF 533 million ($530 million) in 2016, an increase of 10% on a reported basis from CHF 485 million ($482 million) in the […]
UK’s Co-op Bank goes up for sale
The UK’s Co-operative Bank has been put up for sale – with the minority investor Co-op Group saying it is “supportive of the plan to find the bank a new home”. The recent history of Co-op Bank (which markets itself as an ethical bank) has been interesting. It had a disastrous merger with Britannia Building […]
Suncorp core banking revamp stumbles
Suncorp’s multi-year venture to modernise its core banking system, known as Project Ignite, has stumbled at the final hurdle. As Banking Technology reported in August 2016, the revamp was in its final stages. However, in questions over its half-year FY17 results, Suncorp told iTnews that the configuration of the platform and product migration has “taken […]
Top fintech stories this week – 10 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos cuts jobs in US; eyes D+H payments business EXCLUSIVE. US layoffs cited as around 60 by some sources. Ziraat Bank London to replace legacy core banking tech EXCLUSIVE. Misys Fusionbanking moves in. Banks and UN launch sustainable […]
Banque Libano-Francaise live with Validata ABC for release automation
Banque Libano-Francaise (BLF) has gone live with the Validata ABC continuous delivery platform.
ICSFS gains new core banking system client in Iraq, Al-Arabiya Islamic Bank
Al-Arabiya Islamic Bank (AIB), a greenfield bank in Iraq, has opted for the Islamic version of the ICS Banks core banking system from regional vendor ICS Financial Systems (ICSFS).
Payments drive Fiserv revenue growth
Fiserv’s healthy payments segment has boosted its revenue for the fourth quarter and full year 2016. In its latest results, GAAP revenue increased 5% in Q4 to $1.43 billion, driven by 7% growth in its payments segment and 2% growth in its financial segment, compared to Q4 2015. Full year GAAP revenue saw a rise […]
Salem Five Bank in major tech overhaul with Fiserv
Salem Five, a $4.2 billion mutual bank in Massachusetts, is embarking on a major technology overhaul with Fiserv’s core, digital banking, payments, and commercial solutions.
Askari Bank goes live on Autosoft’s Islamic treasury solution
Pakistan-based Askari Bank has gone live with Autosoft’s Islamic treasury management system, Adams Islamic, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS. The bank can manage its Islamic treasury operations using Adams Islamic as well as process funds transfers between banks using AutoRTGS. Adams Islamic is also integrated with the bank’s […]
Temenos cuts jobs in US; eyes D+H payments business
Banking software vendor Temenos is understood to have laid off a number of staff across its operations in the US, including at the Trinovus and Akcelerant subsidiaries. It is also understood to be eyeing the payments business of DH Corporation, Global Transaction Banking Solution (GTBS, formerly Fundtech).
Ziraat Bank London to replace legacy core banking tech with Misys Fusionbanking
Turkey’s banking group, Ziraat, is to modernise core banking software at its London branch, Banking Technology understands. The new solution will be supplied by Misys.
Banking Technology February 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
St Stanislaus-St Casimir’s Polish Parishes Credit Union in core banking revamp with Smartsolution’s Universa
Canada-based St Stanislaus-St Casimir’s Polish Parishes Credit Union (Polcu) will move to a new core banking platform, Universa, supplied by local banking tech vendor Smartsolution.
Top fintech stories this week – 3 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Qatar International Islamic Bank recommits to Misys
Qatar International Islamic Bank (QIIB), a long-standing customer of Misys, is implementing the new version of the vendor’s core system for Islamic banks, FusionBanking Essence Islamic, front-to-back office.
New core banking system deal for Temenos in Guernsey
Skipton International, an offshore bank based in Guernsey (Channel Islands), has made a decision to modernise its core tech with Temenos’ T24.
Rakuten Europe Bank opens for business with Temenos front-to-back office tech
Luxembourg-based Rakuten Europe Bank, a subsidiary of Japan’s e-commerce and internet company, Rakuten, has gone live with Temenos’ T24 core banking system and Temenos Connect for digital channels.
Bank of Valletta signs for Oracle FSS’s Flexcube core banking system
Malta-based Bank of Valletta (BOV) is modernising its core banking software with Flexcube from Oracle FSS. Flexcube will replace Intrasoft International’s Profits core banking system.
VEB issues core banking system tender
Russia-based Bank for Development and Foreign Economic Affairs (VEB), a state-owned development bank, has issued a tender for new core banking software.
Misys out, Temenos in, at Persia International Bank
London-based Persia International Bank, a joint venture of two Iranian financial services groups, Bank Mellat and Bank Tejarat, is undergoing a tech revamp.
Validata and OneAston in strategic partnership for Temenos projects
Validata Group, a specialist in enterprise software testing and release automation, has teamed up with OneAston, a Singapore-based tech services provider to the wealth management industry, to jointly work on Temenos’ WealthSuite projects.
First Oklahoma FCU in core banking and digital software revamp with Fiserv
First Oklahoma Federal Credit Union, the oldest credit union in the state, has embarked on a major tech overhaul. It will implement Fiserv’s Portico core processing system and a suite of digital solutions.
Automic Software now on Temenos Marketplace
Business automation software vendor Automic Software has inked a deal with Temenos to make its Automic Workload Automation available on the Temenos MarketPlace store.
Yes Bank opens fintech accelerator programme for start-ups
India’s Yes Bank is inviting fintech start-ups to take part in its Yes Fintech Accelerator Programme. The application process is open until 2nd February 2017.
US core banking software projects: win for DCI, go-live for Symitar
Kansas-based banking software developer, Data Centre Inc (DCI), has signed a new client, The First National Bank in Falfurrias, Texas. Jack Henry’s Symitar division has completed a core conversion at Sun East Federal Credit Union in Pennsylvania.
New digital bank, SunTrust, runs on ICS Banks core platform
SunTrust Bank in Nigeria has renewed the contract with banking software vendor ICS Financial Systems (ICSFS) for its ICS Banks core banking system.
Industrial CU live with new core banking system, Keystone
Washington-based Industrial Credit Union has converted to a new core banking system, Keystone from Corelation.
Fana Sparebank to revamp core banking, payment and self-service solutions with Evry
Norway-based banking software provider Evry has signed a new five-year agreement with a domestic banking group, Fana Sparebank, to modernise its core banking and payments tech.
ME Bank outsources core banking to Capgemini
Australia’s ME Bank has signed a five-year deal with tech consultancy firm Capgemini to manage its core banking functions. ME Bank says it will still look after the design and security elements of the Temenos’ T24 core banking system, while Capgemini will provide a managed service for its infrastructure. In an interview with the Australian […]
Centenary Bank live with new core banking system, Profits
Centenary Bank in Uganda has gone live with a new core banking platform, Profits, supplied by Intrasoft International.
Top fintech stories this week – 6 January 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.
MAIB in major core banking system upgrade
Moldova Agroindbank (MAIB), a universal bank in Moldova, has completed a major upgrade of its core software. The bank, a long-standing customer of Temenos, has moved from T24 R08 to R15.
MVB Bank in tech overhaul with Jack Henry’s Silverlake core system
MVB Bank, a $1.4 billion community bank in West Virginia, has signed for a new core banking system, Jack Henry’s Silverlake.
Samba Bank live with new core banking system, Temenos’ T24
Pakistan-based Samba Bank Limited, a subsidiary of Saudi Arabia’s Samba Financial Group, has gone live with new core banking software, Temenos’ T24 (R15).
Infosys Finacle core banking system live at Sunrise Bank in Nepal
Infosys’ flagship core banking offering, Finacle, is live at Sunrise Bank in Nepal. Finacle ousted Temenos’ T24 core banking system (installed at the bank six or so years ago).
Turicum Private Bank swaps ERI’s Olympic for Temenos’ T24 core banking system
Turicum Private Bank in Gibraltar is live with new core banking software, Temenos’ T24. The system is delivered on Microsoft Azure cloud.
NDC migrates Sahara Bank to new core banking system, Temenos’ T24
Libya-based Sahara Bank has gone live with new core banking software, Temenos’ T24 (R14). The project was carried out by Pakistan-based National Data Consultants (NDC), Temenos’ regional partner.
St George Bank live with new core banking system, Celeriti
St George Bank, Sydney-based subsidiary of Westpac, has finally gone live with new core banking software, CSC’s Celeriti. The project has been underway since 2010.
Westpac picks Oracle and Accenture to build new enterprise-wide customer data hub
Westpac has embarked on a major project to roll out a new data integration solution – Oracle Customer Hub – bank-wide. It is understood that SAP was Oracle’s main contender for the deal.
