Core banking systems

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/Core banking systems

Misys up on bid rumours

Shares in British banking systems firm Misys continued to edge up today on the back of renewed speculation that a rival vendor is gearing up to make a bid for the business.

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Japanese fintech spending to rise - study

Spending on technology by Japan's banking sector approached US$14.7 billion in 2007 and will grow at a five-year compound annual growth rate (CAGR) of 4.2% to reach US$18.2 billion by early 2012, according to a study by Boston-based analyst Celent.

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BI technology outfit Granville Associates goes under

Granville Associates, a UK provider of business intelligence (BI) software to the banking sector, has gone into administration.

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Wall Street Systems acquires Aleri wholesale banking unit

Trading and treasury systems vendor Wall Street Systems (Wallstreet) has signed an agreement to acquire the wholesale banking business of New York-based Aleri.

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CBA selects SAP for core banking overhaul

Commonwealth Bank of Australia (CBA) is moving its core banking operations to the SAP for Banking platform under a four year, A$580 million programme to overhaul its legacy systems.

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SunGard introduces Ambit banking software framework

Fintech powerhouse SunGard has unveiled an integrated package of products and services for retail, commercial and private banks that will utilise the vendor's common services architecture framework for plug-and-play connectivity.

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Temenos raises full year guidance; reports JPMorgan contract

Swiss core banking systems vendor Temenos has dodged the fall-out from the ongoing credit crunch, reporting a healthy rise in revenue and earnings for Q1 2008 and raising its year-end guidance.

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I-flex morphs into Oracle Financial Services

Indian fintech vendor i-flex says it plans to change its company name to Oracle Financial Services Limited.

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Top tier bonanza in store for core banking vendors - CapGemini

Core banking systems vendors could be on the verge of a bonanza in license fee sales, as top tier institutions look to replace their ageing legacy systems with new modular packaged applications, says international consultancy CapGemini.

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Misys reports bullish Q3

In an upbeat interim statement, Misys is reporting healthy increases in third quarter revenue at its banking unit and treasury and capital markets division.

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Nationwide switches to SAP for Banking

The UK's Nationwide Building Society is migrating its banking, savings and mortgage operations to the SAP for Banking platform as part of a £300 million business transformation programme.

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Financial Objects reports profit rise; eyeing acquisitions

After reporting a healthy rise in full year pre-tax profits, UK fintech vendor Financial Objects says it is on the look out for earnings-enhancing acquisitions.

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Temenos unscathed by credit crunch

Swiss banking systems vendor Temenos has posted hefty rises in revenue and profits for 2007 and says its business has not experienced any slowdown as a result of the credit crunch.

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Indonesia's BTPN rolls out Misys Islamic banking system

Indonesia's PT Bank Tabungan Pensiunan Nasional (BTPN) is deploying technology from British banking systems vendor Misys to support its move into Islamic banking.

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Infosys spends $60m on Finacle upgrade

India's Infosys Technologies says it has invested over US$60 million in the last three years on upgrading its flagship core banking platform Finacle.

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Misys reports Iraq bank deal

British banking systems vendor Misys is teaming with UK consultancy B-Plan Information Systems to supply and implement an integrated core banking platform at Rafidain Bank, the largest state bank in Iraq.

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SunGard reports Front Arena deployment at LBBW; signs Pakistan's UBL to System Access

Germany's Landesbank Baden-Württemberg (LBBW) has implemented SunGard's Front Arena platform to support pricing, trading, risk management and back office processing of its equity OTC business.

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Misys posts first half revenue rise; dismisses credit crunch concerns

UK banking-to-healthcare vendor Misys is reporting an upbeat set of interim results, with revenue rising three per cent and operating profit jumping 27% in the six months to 30 November 2007.

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Temenos signs Banque Raiffeisen to T24

Luxembourg-based Banque Raiffeisen is implementing the T24 core banking platform from Geneva-based Temenos to support its universal and retail operations.

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CapGemini inks Société Générale contract

French banking group Société Générale has recruited consultancy Capgemini to standardise technology across its international retail banking subsidiaries.