Core banking systems

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/Core banking systems

NAB decommissions 37 legacy servers as it deploys new credit risk engine

NAB has decommissioned 37 legacy servers that supported its old credit risk engine, following the successful roll-out of a new analytics layer as part of the Australian bank’s NextGen programme.

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NAB consolidates customer data on new CRM system

National Australia Bank has passed an important milestone in its tech transformation agenda with the roll out of a new customer relationship management system for its 4500 business bankers.

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Nordea to take EUR344 million IT charge as core platforms are upgraded

Nordea Bank is to take a EUR344 million impairment charge on its current IT systems as it embarks on a major project to rip and replace its core banking and payments platforms.

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Misys on the block as Vista Equity Partners agrees Tibco acquisition

Vista Equity Partners is seeking buyers for core banking supplier Misys after agreeing a $4.3 billion deal to acquire business process software firm Tibco.

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Misys acquires Custom Credit Systems

Misys is looking to extend its footprint into the multi-billion dollar market for commercial lending software with the acquisition of Custom Credit Systems (CCS), a US-based provider of commercial loan origination and workflow management software.

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Global retail bank IT spend to soar - Ovum

Global retail bank IT spending is to set to rise 19.9% over the next four years to hit $150 billion in 2018, according to figures from Ovum.

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Westpac appoints CBA core transformation architect as new CIO

Wetspac has appointed Dave Curran, the architect of neighbouring Commonwealth Bank's core banking transformation project, as its new chief information officer.

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Fiserv partners Anthony Thomson on tech platform for new UK banks

Metro Bank and Atom Bank founder Anthony Thomson has teamed up with fintech vendor Fiserv to develop a technology platform designed to help the raft of new challengers bidding to enter the UK banking market.

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How not to do a core platform renewal project - lessons from the Co-op debacle

An independent report into events surrounding the near collapse of the UK's Co-operative Bank offers a cautionary tale for banks contemplating a core systems renewal programme.

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Kiwibank hires SAP for $100 million core banking project

New Zealand's Kiwibank is to make a four-year $100 million investment in a new core banking platform from SAP.

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Misys acquires IND Group

Misys has acquired Hungary-based IND Group, a supplier of online and mobile banking and personal financial management tools to 30 banks worldwide.

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FIS tech to power India's first bank for women

India's first public sector bank for women opens its doors today, powered by technology from US fintech vendor FIS.

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Westpac lays out five-year plan for core platform refresh

Australia's Westpac has committed to a five-year programme to consolidate its core banking architecture to an upgraded real-time platform from Hogan Systems.

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Indian bank IT spending to hit new highs - Gartner

Indian banking and securities companies will spend 462 billion rupees (EUR5.5 billion) on IT products and services in 2014, an increase of nearly 9.8 percent over 2013 revenue of 421 billion rupees, according to Gartner

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DigitalPersona acquires core banking biometric outfit Identity Stream

US fingerprint authentication outfit DigitalPersona has acquired Georgia-based Identity Stream, which offers a turnkey biometric system for core banking users.

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Rotten core: Bank IT costs set for material increase

Banks operating ageing IT platforms can expect to experience a material increase in running costs over the coming years, only partially offset by the introduction of smaller cheaper-to-run branch outlets.

/Core banking systems

Co-op writes off £148 million in IT costs as losses widen

The UK's Co-operative Bank has written off a further £148 million in IT costs as it ditches plans to implement a new core banking platform from Infosys.

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D+H closes $1.2bn Harland acquisition

Canadian financial technology firm Davis and Henderson (D+H) has completed the US$1.2 billion cash acquisition of US counterpart Harland Financial Solutions.

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Global core banking market to hit $10bn in 2017 - Celent

Global spending on core banking technology is set for steady, if unspectacular, growth over the next four years, breaking the $10 billion barrier in 2017, according to research from Celent.

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Temenos launches social media monitoring and compliance tool

Swiss fintech vendor Temenos has unveiled SocialComply, a social media monitoring and compliance tool designed to help financial institutions engage with customers while managing the associated risks.