Core banking systems

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/Core banking systems

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.

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IBM wins EUR45m Allied Irish deal

Allied Irish Bank (AIB) has awarded a three year contract, worth EUR45 million, to overhaul its core banking infrastructure to IBM.

/Core banking systems

IBM to open Vietnam tech lab

IBM is establishing a technology centre in Vietnam that will help its financial services clients build and deploy core banking applications and modernise IT systems.

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Bank Islam selects T24 for Shariah-compliant banking

Bank Islam Malaysia Berhad is implementing the T24 modular core banking platform from Swiss vendor Temenos to provide Shariah-compliant services to customers in branches and via the Internet.

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Financial services IT spending set for modest growth - Celent

The latest research from Celent shows that IT spending by global financial services institutions slowed in 2007 to stand at US$342.1 billion, a year-to-year increase of 5.9% but substantially lower than the 8.7% growth achieved in 2006.

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Misys reports UBI Banca deal

Italian banking group UBI Banca International is rolling out the Midas Plus core banking package and the TI Plus trade finance application from UK vendor Misys across its EU branches.

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NAB to offshore maintenance and support of legacy platforms; sets up cyber crime unit

National Australia Bank (NAB) is outsourcing maintenance, management and support of some legacy systems to Indian offshore providers Infosys and Satyam in a move that has implications for around 300 IT staff at the bank.

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Fiserv reports Chinese bank contract

Fiserv CBS says its local partner in China has secured a deal to implement its international comprehensive banking system (ICBS) at Shenzhen Rural Commercial Bank (SRCB).

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Misys talks up first half

UK banking systems vendor Misys says its business has not been hit by this year's credit crisis and that first half revenue increased year-on-year across all divisions, beating its own internal targets.

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Infosys signs Kazakhstan's Alliance Bank to Finacle

Kazakhstan's Alliance Bank is to implement the Finacle universal banking system from Infosys as the cornerstone of a business transformation initiative.

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Bangladesh's AB Bank live with Misys Equation and Trade Innovation

Bangladesh's AB Bank has rolled out technology from UK banking systems vendor Misys to support its retail and trade finance operations.

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Temenos signs Mauritius Commercial Bank to T24

Mauritius Commercial Bank (MCB) is implementing the T24 modular core banking platform from Swiss vendor Temenos to support its corporate and retail operations.