Latest Core banking systems News: Finextra Research

Misys Q3 revenue growth boosted by BankFusion momentum

UK fintech vendor Misys has posted a seven per cent revenue rise for the third quarter, boosted by a return to growth for its banking unit as customers sign for the new BankFusion product.

06 April 2011

News/Core banking systems

CBA pins future on PFM as core banking modernisation benefits kick in

Commonwealth Bank of Australia believes its $1.1 billion core banking modernisation programme will give it the edge over rivals, allowing faster time to market for new products and the ability to provide customers with real-time analytics to monitor household spending via sophisticated personal financial management tools.

15 March 2011

News/Core banking systems

Indian Overseas Bank plans JV to sell core technology

Indian Overseas Bank is looking to tie-up with a IT consultancy firm to form a joint venture that will sell its in-house developed core banking system.

11 March 2011

News/Core banking systems

ANZ New Zealand shifting to single IT platform

ANZ New Zealand is investing around NZ$220 million to put its business on to a single technology platform and restructure its management system.

02 March 2011

News/Core banking systems

Temenos gets new CEO; posts FY results

Temenos has nabbed Guy Dubois from mobile communications firm Mach Group to take over as CEO, replacing Andreas Andreades who moves upstairs as chairman. News of the shake-up comes as the Swiss core banking vendor posts mixed full year results.

17 February 2011

News/Core banking systems

CBA extends core banking deadline by one year as costs skyrocket

Commonwealth Bank of Australia has extended its core banking tech modernisation programme by a year, and upped spending on the project to $1.1 billion, almost double its original estimates of $580 million.

10 February 2011

News/Core banking systems

FIS buys Gifts Software

FIS has acquired Gifts Software, a provider of funds transfer, cash management and anti-money laundering (AML) technology. Financial terms of the deal were not disclosed.

08 February 2011

News/Core banking systems

Temenos takes T24 to the cloud with Microsoft Windows Azure

Swiss core banking vendor Temenos has taken T24 into the cloud, offering its flagship system on the Microsoft Windows Azure platform.

07 February 2011

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Guangdong Cooperatives overhauls systems with IBM

IBM has won a major contract with China's Guangdong Rural Credit Cooperatives to consolidate 23 banking systems in seven cities.

02 February 2011

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AIB claims EUR84m over bungled Flexcube deployment

Allied Irish Bank (AIB) has begun court proceedings against Oracle Financial Services Software, claiming nearly EUR84 million over a bungled Flexcube implementation, according to broadcaster RTE.

31 January 2011

News/Core banking systems

Misys reports flat H1 revenues; to hand over more Allscripts cash to shareholders

Misys has reported flat first half revenues as growth in treasury and capital markets was again offset by a slight decline in banking. Meanwhile, the UK vendor has also revealed it will hand over to shareholders another £145 million from the sale of healthcare unit Allscripts.

25 January 2011

News/Core banking systems

Deutsche Bank GTB selects TCS platform

Deutsche Bank is rolling out core technology from Tata Consultancy Services (TCS) across its Global Transaction Banking (GTB) business.

14 December 2010

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Capgemini acquires Temenos specialist Thesys Technologies

Capgemini has acquired India-based Temenos implementation partner Thesys Technologies. Terms of the transaction were not disclosed.

25 November 2010

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IT costs barrier to new UK banking players

With IT accounting for up to two thirds of start up costs, technology is proving a major barrier to new entrants in the UK retail banking sector, according to the Office of Fair Trading (OFT).

04 November 2010

News/Core banking systems

Disruptive clouds gather over banking technology market

Software developer Misys has announced a strategic alliance with Microsoft that will enable it to deliver new banking and capital markets applications through the Windows Azure cloud platform. The launch of the initiative comes as leading banks at the Sibos conference in Amsterdam discuss the disruptive potential of cloud computing on the banking technology market.

25 October 2010

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Co-op taps Clear2Pay for payments overhaul

Co-operative Financial Services has selected technology from Clear2Pay as the basis for a revamped, single unified payments hub.

20 October 2010

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Westpac delays core banking migration by four years

Australian banking giant Westpac has set back by four year the timetable for migration of its core banking platform to the Hogan system used by its subsidiary St George as it strives to make sense of its sprawling IT estate.

08 October 2010

News/Core banking systems

Misys Q1 revenue flat

In its first quarter as a pure-play financial services business following the disposal of Allscriptes, Misys has reported flat revenues as growth in treasury and capital markets was offset by a slight decline in banking.

29 September 2010

News/Core banking systems

ING, HSBC and Nordea outline barriers to banking innovation

Retail banking innovation programmes can face a variety of internal barriers to success, ranging from resistance from inhouse technology fiefdoms, governance, and the demand for swift ROI, according to the panel of industry experts on the Finextra/Infosys Webcast, 'Retail Banking Innovation - Adapting to a new age', broadcast on Thursday.

10 September 2010

News/Core banking systems

Commercial Bank of Ethiopia signs for Temenos T24

Government-owned Commercial Bank of Ethiopia (CBE) has selected technology from Swiss vendor Temenos for an overhaul of its operational infrastructure.

02 August 2010