Core banking systems

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Saigonbank selects SunGard’s Symbols for core banking

/Core banking systems

Saigonbank selects SunGard’s Symbols for core banking

SunGard has signed its second Vietnamese bank this year to the Symbols core banking solution it added to its portfolio with last July's acquisition of Singapore's System Access.

Misys says recovery on track

/Core banking systems

Misys says recovery on track

UK banking-to-healthcare software vendor Misys is reporting an increase in revenues at its banking division and says its corporate turnaround programme is proceeding in line with expectations.

Ex-Financial Objects board members move into private equity

/Core banking systems

Ex-Financial Objects board members move into private equity

Roger Foster, founder and part-time chairman of Financial Objects, and Stewart Foster, who was a board member and director of the Activebank division, have launched a new private equity firm called Third Financial. They are seeking acquisition-ready companies in the financial technology sector after last month leaving Financial Objects.

TCS establishes financial services software unit

/Core banking systems

TCS establishes financial services software unit

India's Tata Consultancy Services (TCS) is consolidating its financial software and services operations into a single unit led by N Ganapathy Subramaniam, the current head of its banking division.

Misys sells Sesame unit to Friends Provident; names Jim Malone CFO

/Core banking systems

Misys sells Sesame unit to Friends Provident; names Jim Malone CFO

UK banking-to-healthcare software firm Misys has agreed to sell its IFA services division, Sesame, to life and pensions outfit Friends Provident. The vendor has also named Jim Malone as its new chief financial officer.

Kenya Commercial Bank selects Temenos T24 for banking systems overhaul

/Core banking systems

Kenya Commercial Bank selects Temenos T24 for banking systems overhaul

Kenya Commercial Bank (KCB) is implementing Temenos's modular core banking platform, T24, to support its wealth management unit and retail, corporate and Islamic banking operations.

S1 moves back into the black in Q1

/Core banking systems

S1 moves back into the black in Q1

US fintech firm S1 Corporation is reporting a profit of $3 million for the first quarter of 2007, compared with a net loss of $444,000 a year ago.

Oracle forms financial services software unit

/Core banking systems

Oracle forms financial services software unit

Oracle is establishing a new business unit focused on developing applications for the financial services industry. The new division will be headed by Rajesh Hukku, the current chairman and managing director of its majority-owned i-flex solutions subsidiary.

TCS reports Russian bank deal

/Core banking systems

TCS reports Russian bank deal

India's Tata Consultancy Services (TCS) is reporting a multi-million dollar contract with Russia's BIN Bank for the supply and implementation of its core banking platform, Bancs.

TietoEnator's German banking and insurance group divests SAP teams

/Core banking systems

TietoEnator's German banking and insurance group divests SAP teams

Nordic technology firm TietoEnator has transferred its SAP business in the German banking and insurance group to specialist firm Resco. It has also agreed to a management buy-out from its SAP Human Capital Management consulting team.

Temenos reports strong first quarter; increases outlook for 2007

/Core banking systems

Temenos reports strong first quarter; increases outlook for 2007

Swiss banking systems vendor Temenos is reporting $60.3 million in revenues for the first quarter of 2007, up 64% on Q1 2006. As a result of this and recent acquisitions and distribution deals, it has raised its revenue outlook for 2007 from $270 million to $290 million.

SMBC moves to Temenos T24 for Asia Pacific business

/Core banking systems

SMBC moves to Temenos T24 for Asia Pacific business

Sumitomo Mitsui Banking Corporation (SMBC) is to install the T24 core banking platform from Geneva-based Temenos in all 13 of its Asia Pacific branches across seven countries.

Allied Irish implements Flexcube for retail banking

/Core banking systems

Allied Irish implements Flexcube for retail banking

Allied Irish Bank (AIB) is deploying the Flexcube core banking package from Indian vendor i-flex solutions to overhaul and streamline its retail banking operations.

Open Solutions to acquire Canada's Fincentric

/Core banking systems

Open Solutions to acquire Canada's Fincentric

US financial software vendor Open Solutions has signed a definitive agreement to acquire Fincentric Corporation, a Canadian-based provider of core retail banking technology. Terms of the deal were not disclosed.

Temenos signs BankMuscat to T24

/Core banking systems

Temenos signs BankMuscat to T24

Oman-based BankMuscat is deploying the T24 core banking system from Swiss vendor Temenos to replace its legacy retail and corporate banking platforms.

Temenos targets Misys' Midas customers with T24 Model Bank

/Core banking systems

Temenos targets Misys' Midas customers with T24 Model Bank

Swiss banking systems firm Temenos is looking to capitalise on Misys' new product strategy by targeting customers that will soon have to upgrade to the UK vendor's BankFusion platform.

I-flex signs Bank Danamon to Flexcube

/Core banking systems

I-flex signs Bank Danamon to Flexcube

Indonesia's Bank Danamon is rolling out the Flexcube core banking platform from Indian fintech vendor i-flex solutions across its 1200 branches.

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