1. finance
2. bank
3. bank account

FR
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PR SA
OF M
IL PLE
E
Welcome to the 10th edition of the IBS Guide to Back Office Systems and Suppliers –
commonly known in the industry as the BOSS Guide.
At IBS, we prefer to let the quality of our content speak for itself. So we have produced
this special brochure, featuring a sample supplier profile, to show you just how useful the BOSS
Guide will be to you and your team.
Covering 92 suppliers and 132 systems, each detailed profile includes:
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❏
Company status
History
Future strategy
System functionality and specifications
An extensive customer list.
The BOSS Guide also provides a country-by-country breakdown to show who is using each
system in which country.
This new edition has grown with the inclusion of additional solutions and enhanced entries for
those that were already covered, to become the definitive guide to back office systems and their
suppliers.
IBS covers the market in closer detail than others because we talk in person with banks and
suppliers every day. Our incisive commentary draws on over two decades of investigation and
knowledge. We are totally independent and provide unbiased analysis, enabling readers to understand the history, the evolution, the roadmap, the track-record and to benchmark each offering.
See for yourself with the sample profile enclosed.
Use the BOSS Guide to compare, without any bias, all the international suppliers and their
systems to see who is offering what, as well as evaluate the functionality and the strengths and
weaknesses of the various systems available.
The BOSS Guide will be an ideal resource for:
❏
❏
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❏
Banks engaging in a selection/upgrade or requiring the latest high-quality research
Vendors keen to assess existing as well as new competitors
Consultants needing to stay ahead in this highly volatile market
Any other industry player or analyst.
Order online at www.ibsintelligence.com
Fax or Post your order using the priority order form on the reverse of this sample
Contact our customer hotline: +44 (0)1303 262 636
Email: [email protected]
2 | Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers
© 2010 IBS Intelligence
www.ibsintelligence.com
S AMPLE B OSS G UIDE P ROFILE
Centre of Financial Technologies
Head office:
Other offices:
Website:
Contact:
Founded:
Ownership:
Number of staff:
61 Bolshaya Gruzinskaya str., Building 2 (3rd floor),
Moscow 123056, Russia.
Tel: +7 495 626 55 87
Email: [email protected]
Russia (5), Kazakhstan, Moldova.
www.cft.ru
Tatyana Rogoten (Marketing and PR Director).
1991.
Group of companies.
1200.
CFT (Centre of Financial Technologies) came into being around the time of the demise of the
Soviet Union. It is a software, training and services vendor that started life in a former ‘incubator’
in the West Siberian ‘Akademgorodok’ (academic town) of Novosibirsk, Russia’s third largest city.
Today, it is one of the largest IT vendors in the country, claiming over 30 per cent of the Russian
banking market as users of its products. In terms of sales volume, the vendor asserts yearly sales
volume growth of no less than 40 per cent. This is due to CFT’s constant diversification and development of software and processing businesses, says the vendor. At the end of 2006 the profit
from banking systems sales grew by 60 per cent compared to the previous year. Throughout
2007 and 2008, the company continued to record strong growth, with a 40 per cent overall
growth of its business in 2008 and a total of 26 new core banking software customers (25 in
2007). Notably, CFT performed much better in 2008 than its main domestic rivals, Diasoft and RStyle Softlab, and topped the annual IBS Sales League Table for Russian/CIS core banking sales
that year, surpassing the runner-up, Diasoft, by 13 new deals. The majority of sales took place in
Russia, with four in Kazakhstan, two in Moldova and one in Kyrgyzstan.
Over the last few years, CFT has transformed itself from a regional player, with a stronghold east
of the Urals, to a country-wide vendor. It has beefed up its Moscow team and embarked on
aggressive expansion to other regions as well as neighbouring CIS countries. It is undoubtedly a
force to be reckoned with in today’s market in Russia, with robust sales figures and a growing user
base of top-tier banks. As one banker described it to IBS, ‘CFT is no longer some software developer from far away Siberia’.
Among the principal users of the company’s products is Sberbank (Savings Bank of the Russian
Federation), Russia’s largest financial institution, which covers all eleven time-zones in the country
and numbers over 20,000 branches and outlets. CFT and Sberbank co-developed the system
which is used as the core banking solution in six of Sberbank’s 17 major regional banks.
Other major customers include Uniastrum (in its head office and 35 branches) and Vozrozhdeniye
(one of Russia’s top 30 banks and an authorised bank of the Government of Moscow City and the
Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers | 3
© 2010 IBS Intelligence
S AMPLE B OSS G UIDE P ROFILE
www.ibsintelligence.com
Government of the Moscow Region). In 2005, Vozrozhdeniye installed CFT-Bank and CFT-Retail at
its head office and, over the following year, the software was rolled out to its branches across the
country (160 locations). It substituted the old Abraxsys solution from UK-based COR Financial
Systems.
Outside the country, CFT-Bank and CFT-Retail Bank takers include BPS-Bank in Belarus, Caspian
Bank and AsiaCredit Bank in Kazakhstan, Tajikistan Development Bank in Tajikistan and Bank Kyrgyzstan in Kyrgyzstan. In Azerbaijan, the vendor has partnered with a local integrator, Caspel, to
promote CFT-Bank and CFT-Retail. At present, CFT-Bank is used in one bank in the country, VTBAzerbaijan (a subsidiary of Russia’s VTB Group).
In addition to its main core banking system, CFT has also developed software to cater for a bank’s
specific activities. The list includes CFT-Budget Planning, CFT-Management Accounts (accumulation and analysis of financial activities data), CFT-Customers (customer and business partner services), CFT-Data Warehouse, CFT-Bank Client (remote banking services) and CFT-Internet Bank. It
also offers a payment and settlement processing centre CardStandard; the aforementioned Golden Crown; a national bill consolidation system dubbed ‘Gorod’ (translated as ‘town/city’ from
Russian, it unites 430 banks and 15,000 service providers across the country’s 70 cities); and an
electronic documents processing centre, Faktura.ru. The latter is used by around 250 banks across
Russia.
Among unusual projects of 2008 was a deal with Peoples’ Friendship University of Russia, one of
the country’s top five universities. It acquired CFT’s core banking system, CFT-Bank, as a result of
a state-endorsed open tender, which involved the majority of the Russian core systems suppliers.
The university will train students of the relevant departments to become specialists of the CFTBank system. CFT also has its own IT school, based in Moscow, where the vendor offers free and
paid courses to study its software.
Another major non-banking organisation that purchased CFT-Bank in 2008 is Rostelecom, Russia’s
national telecommunications operator. The software will support Rostelecom’s settlements/payments, loans operations and securities.
Important 2008 wins in the banking sector include the greenfield VTB-Kazakhstan (Kazakhstanbased subsidiary of VTB Group) and Fincombank in Moldova. The latter was then a new territory
for CFT and since this deal, the vendor has also gained another taker there, Universalbank.
2009 started well for the vendor, with a spate of new wins and implementations, among which
was an enterprise-wide roll-out of CFT-Retail Bank (the vendor’s retail-focused system) at Orient
Express Bank. The project covered the bank’s 350 branches and outlets across Russia’s eleven
time-zones. The entire network is now working on one centralised database in the headquarters
in Khabarovsk (Russia’s Asia Pacific region).
One of CFT’s biggest earners to date is its card payment system Golden Crown (‘Zolotaya Korona’
in Russian), which is operated by more than 200 banks, servicing over five million users across
Russia with ATMs, payment terminals, online inter-bank money transfers, a loyalty scheme, and
regional processing centres.
4 | Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers
© 2010 IBS Intelligence
www.ibsintelligence.com
S AMPLE B OSS G UIDE P ROFILE
The company’s flagship core solutions are the aforementioned CFT-Bank and CFT-Retail Bank for
universal and retail financial institutions respectively. CFT-Bank is a fully-fledged universal banking
system that is parameterised and scalable and has Oracle as the DBMS. It conforms to the reporting and operation requirements of the Central Bank of Russia.
CFT-Retail Bank is designed mainly for medium and large retail banks, and also uses Oracle. The
system will accommodate multiple branches and centralised operations. The functionality of CFTRetail Bank covers individual and corporate deposits, loans to individuals, money transfers, cash
operations, credit cards, public utilities payments, contract and regular payments, payroll processing, currency conversion, foreign exchange, internet banking, tax calculation and anti-money
laundering.
In 2009, CFT developed a new technological platform, CFT-Platform 2 MCA (Mission Critical
Application). It boasts considerable expansion of the products’ functionality thanks to the
increased server capacity and scalability.
Among the takers of CFT’s core offerings is one of the Russian ‘heavyweights’, Sviaz-Bank. It has
implemented both CFT-Bank and CFT-Retail Bank in its head office and 36 branches. However,
the bank almost became a victim of the 2008 financial crisis and was rescued by the Russian government. It is now owned by VEB, a state banking corporation. In late 2009, VEB announced its
intention to create a new postal bank, based on Sviaz-Bank and Russian Post offices.
Evrofinance Mosnarbank, a notable local player in the Russian banking market, is also on the CFTRetail Bank user list. It originally signed for the system for its head office and branch network.
However, the project was later limited to the branches only. By mid-2010, about 50 per cent of
the branches were covered by the new system.
Overall, 2009 was a good year for the vendor. CFT retained its leadership position in the IBS Sales
League Table Russia, although with just half the sales it made in 2008. Its core software was
acquired by 13 financial institutions. Among them were a good number of foreign banks operating in Russia, such as Ziraat Bank, Nordea, WestLB and Sumitomo Mitsui.
It also picked up the largest core banking software deal of the year in Russia, with Nomos-Bank.
The bank shelved its implementation of the Forpost core banking system from Lithuanian supplier, Forbis, and switched to CFT. Forpost was to replace an ageing banking solution from another
Russian supplier, Quorum. The project was in the making for a few years, with Forbis working
together with IBM’s Eastern Europe/CIS division on this project. The bank declined to comment,
but Forbis’ spokesperson attributed this change of plans to a change in Nomos-Bank’s shareholders and top management, including in the IT area.
Functionality of CFT-Bank/CFT-Retail Bank
General ledger accounting, clearing, customer services, treasury, trade operations, foreign
exchange, money markets, fund investment, loans, deposits, corporate and retail banking services, cash operations, safety deposit box administration, inter-bank operations, personnel management, payroll accounting, reports to CBR standards, and analysis tools.
Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers | 5
© 2010 IBS Intelligence
S AMPLE B OSS G UIDE P ROFILE
www.ibsintelligence.com
Number of known CFT-Bank/CFT-Retail Bank users: 120+.
CFT-Bank/CFT-Retail Bank users:
Akkobank (Russia)
Aktzept (Russia)
Alemar (Russia)
Alta-Bank (Russia)
AMT Bank (Russia)
AsiaCredit Bank (Kazakhstan)
Asiatic-Pacific Bank (Russia)
Bank Eskhata (Tajikistan)
Bank ITB (Russia)
Bank Kyrgyzstan (Kyrgyzstan)
Bank of Corporate Financing (Russia)
Bank Rossiya (Russia)
Bank VTB North West (Russia)
Bashinvestbank (Russia)
BCS-Bank (Russia)
Belon (Russia)
BPS-Bank (Belarus)
B&N Bank (Russia)
BTA Bank (Kazakhstan)
Byzylykbank (Russia)
Caspian Bank (Kazakhstan)
Center-invest (Russia)
City Mortgage Bank (Russia)
Companion Finance Group (Kyrgyzstan)
Constans-Bank (Russia)
Creditmart (Russia)
Dalcombank (Russia)
Dalnevostochny Bank (Russia)
DeltaCredit (Russia)
Evrofinance Mosnarbank (Russia)
Express (Russia)
FIA-Bank (Russia)
Financial Standard (Russia)
Fincombank SA (Moldova)
First Investment (Russia)
First Republican Bank (Russia)
Flexinvest Bank (Russia)
Forshtadt (Russia)
Gazprombank (Russia)
HSBC (Russia)
Intekhbank (Russia)
Investcapitalbank (Russia)
International Finance Club (Russia)
I was very impressed by the
detailed histories on each vendor
and the massive international
scope of the installation surveys.
It greatly enhanced my understanding of the Back Office
Systems market across
all geographies.
Kenneth Ballard, Sapient
6 | Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers
© 2010 IBS Intelligence
www.ibsintelligence.com
Ipotekbank (Russia)
Kara-Altyn (Russia)
KIT Finance (Russia)
Koltso Urala (Russia)
Kuznetskbusinessbank (Russia)
Lanta-Bank (Russia)
Levoberezhny Bank (Russia)
Masterbank (Kazakhstan)
MDM-Bank (Russia)
Mezhdynarodny Torgovo-Promishlenny Bank (Russia)
MICEX Clearing House (Russia)
Moscow Mortgage Agency (Russia)
Municipal Kamchatprofitbank (Russia)
National Bank Trust (Russia)
Natsionalny Kosmichesky Bank (Russia)
Nerungribank (Russia)
Nevsky Bank (Russia)
Niko-Bank (Russia)
Nomos-Bank (Russia)
Nomos-Bank-Siberia (Russia)
Nordea Bank (Russia)
Norvik Bank (Russia)
Novosibirsky Municipal Bank (Russia)
NS-Bank (Independent Construction Bank) (Russia)
Ocean Bank (Russia)
Okhotny Ryad (Russia)
Orenburg (Russia)
Orient Express Bank (Russia)
Orlovsky Sotsialny Bank (Russia)
Perminvestbank (Russia)
Petersburg Social Commercial Bank (Russia)
Petrocommerce (Russia)
Primsotsbank (Russia)
Promservicebank (Russia)
Regional Bank for Development (Russia)
Regional Credit (Russia)
RESO Credit (Russia)
Rostpromstroybank (Russia)
RSK-Bank (Kyrgyzstan)
Rus (Russia)
Russ-Bank (Russia)
Sarovbusinessbank (Russia)
Sberbank (Russia)
Sberinvestbank (Russia)
Sibbusinessbank (Russia)
Siberian Merchant Bank (Russia)
Sibirgazbank (Russia)
S AMPLE B OSS G UIDE P ROFILE
The BOSS guide is widely used
within our organisation as a
sales and marketing tool with
great effect. Having offices in
Dubai, Singapore and Europe
the country search facility is a
unique search technique that
can benefit RP International
across all our geographies.
Well done IBS!
Carl Azzoo, RP International
Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers | 7
© 2010 IBS Intelligence
S AMPLE B OSS G UIDE P ROFILE
Sibsotsbank (Russia)
SKB-Bank (Russia)
Sovcombank (Russia)
Sovetsky Bank (Russia)
Standard Bank (Russia)
Stella-Bank (Russia)
Sumitomo Mitsui Rus Bank (Russia)
Sviaz-Bank (Russia)
TAIB Kazak Bank (Kazakhstan)
Tajikistan Development Bank
(Bonki Rushdi Tojikiston) (Tajikistan)
Transcreditbank (Russia)
Uniastrum Bank (Russia)
Universalbank (Moldova)
Uralincombank (Russia)
Uralsib (Russia)
www.ibsintelligence.com
Uraltransbank (Russia)
Uran (Russia)
VEB (Vnesheconombank) (Russia)
Verhnelensky Bank (Russia)
Vesta (Russia)
Viking (Russia)
Vkladbank (Russia)
Vozrozhdeniye (Russia)
VTB-Azerbaijan (Azerbaijan)
VTB-Kazakhstan (Kazakhstan)
Welcome Bank (Russia)
WestLB Vostok (Russia)
Yaroslavsky Land Bank (Russia)
Zapadny Bank (Russia)
Ziraat Bank (Russia)
Bibliographic information
Publication date: September 2010
A5 size, c.550 pages
ISBN 978-1-904778-54-7
Available in Print, Digital Edition and in IBS eLibrary formats.
Print: £625 / $935 / e690
Digital Edition: £625 / $935 / e690
Print & Digital (order both formats and save 30%): £875 / $1315 / e965
8 | Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers
© 2010 IBS Intelligence
Suppliers and Systems Profiled
(subject to change)
*=new entries
1. 3i Infotech
Kastle
2. Accenture
Alnova Financial Solutions
3. Allshare
Bank/View, Quaestor
4. *Asseco SEE
Experience, PUB 2000, BI, INTBank,
Absolut
5. Autosoft Dynamics
Autobanker II
6. Avaloq Evolution
Avaloq Banking System
7. Banking Information Systems (BIS)
Bisquit, Qbis
8. BML Istisharat
ICBS/BML
9. *Bravura Solutions
Garradin
10. Broadridge
Gloss/Gloss HV
11. *Byte Software
Financial Banking System
12. Callataÿ & Wouters
Thaler
13. Calypso Technology
Calypso
14. *Capital Banking Solutions
Capital Global Banking
15. CCK Financial Solutions
Guava Suite
16. Center of Financial Technologies (CFT)
CFT-Bank, CFT-Retail Bank
17. CGI
Tradeline, Object Tradeline
18. China Systems Corporation
CS Eximbills/Eximbills
19. Colvir Solutions
Colvir Banking Solution (CBS)
20. Commercial Banking Applications
Icobs, IBAS NGS
21. Complex Systems Inc.
Banktrade
22. Computer Sciences Corporation (CSC)
CSC Hogan System, CSC K3000
23. Credence
Ideal
24. Datapro
Integrated Banking System (IBS)
25. Delta Informatique
Delta-Bank
26. Diasoft
Diasoft FA #
27. Die Software
OBS
28. DST Global Solutions
HiPortfolio
29. EDB
Financial Suite
30. ERI
Olympic Banking Systems
31. Financial Software Systems
Spectrum
32. *Finnova
Finnova
33. FIS
ALLProfits, ACBS, Corebank, Profile,
Systematics
34. Fisa Systems
Fisa-System
35. Fiserv
ICBS/Signature
36. Forbis
Forpost
37. Fors Banking Systems
Va-Bank
38. Future Applied Computer Technology
(FACT) Banxware, OraBank
39. GBST
Syn
40. Harland Financial Solutions
Phoenix Banking System, Tradewind
41. *Hyundai IT
Creator
42. Infopro
ICBA
43. Infosys Technologies
Finacle
44. Infrasoft Technologies
OmniEnterprise
45. International Computer Systems (ICS)
Banks
Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers | 9
© 2010 IBS Intelligence
Suppliers and Systems Profiled cont.
46. International Financial Systems
Bankware
47. International Private Banking Systems
(IPBS) IPBS
48. *Intracom
Profits
49. *IT2
IT2 TMS
50. *Megasol
Corniche
51. Microlink Systems Sd Bhd
MIBS
52. *Mimics
Mimics
53. Misys Banking Systems
BankFusion, Bankmaster/LAN, Equation,
Midas/MidasPlus, Trade Innovation
54. Misys Treasury & Capital Markets
Opics/OpicsPlus, Summit, Loan IQ
55. *MIT
Credoc
56. Murex
MX.3
57. Neptune Software
Equinox, Rubikon
58. New Technology Business Solutions
(NTBS) NTBSBanking
59. Nucleus Software
FinnOne Retail
60. Open Solutions
TCBS/TCCUS
61. Openlink Financial
Findur
62. Oracle FSS
Flexcube
63. Path Solutions
iMAL
64. *Pinnacle
Synergy
65. Polaris Software Lab
Intellect Suite, Laser Panacea
66. *Probanx
Coreplus
67. Profile
Spectrum, IMSplus
68. Religare Technova
Nova
69. R-Style Softlab
RS-Bank
70. SAB
SAB2i, Samic
71. Sage
Prospero
72. SAP AG
Loans Management, Deposits
Management, Deposits
73. *SDS
Geos
74. Silverlake Axis
SIBS
75. Simcorp
Dimension
76. Smartstream Technologies
Smartstream Trade Finance
77. Sophis
Risque, Value
78. Sopra
Evolan
79. Sungard Avantgard
Front Arena, Quantum, GL Rims, Ubitrade
80. Sungard Investment Systems
Apsys III
81. Sungard System Access
Symbols
82. Surecomp
Alltra, Imex/Allnet, IBSNet
83. Sword Apak
Beam Core
84. Syntel
Europort+
85. TCS Financial Solutions
Bancs Universal, Bancs Retail
86. Temenos
T24, Temenos Corebanking (TCB)
87. Thomson Reuters
KTP, K+TP
88. Tieto
Core Banking Suite, Summit
89. Top Systems
Topaz Banking
90. TwoFour Systems
TwoFour
91. Vermeg
Megara, Omega
92. Wall Street Systems
Wallstreet FX, Wallstreet Suite
10 | Extracted from the new 10th edition of The IBS Guide to Back Office Systems & Suppliers
© 2010 IBS Intelligence
Further resources from IBS Intelligence
IBS Journal
The definitive independent source of news and analysis relating to financial technology.
Each month we talk to banking systems and financial technology users about their strategies and experiences; we drill down into the activities and plans of the suppliers; and we ensure that our readers are
kept fully informed on all of the industry events and trends.
Industry Guides
Banking Systems in the Middle East: A Regional Guide
Explains the overall roots and make-up of the core banking suppliers and systems in use in the Middle
East, as well as providing in-depth analysis of vendor experiences and customer lists across the region.
Also available:
❏ IBS Guide to Payments Systems and Suppliers
❏ IBS Guide to Islamic Banking Systems
Market Reports
Core Banking Systems Market Dynamics Report 2010
Reveals over 1000 ‘on the record’ system deals showing the vendor, system, bank and country of
installation for 2006, 2007, 2008 and 2009.
Also available:
❏ International Banking Systems Market Report
❏ Retail Banking Systems Market Report
❏ Wealth Management Systems Market Report
Case Studies
30 Case Studies Vol. 1, 2 & 3
Each Volume in this series explores 30 core banking system implementations and evaluates the experiences of a diverse set of financial institutions across the globe, of various sizes and activity.
Also available:
❏ The Innovators: Financial institutions that think differently
❏ Corporate Financial Technology 25 Case Studies
Analyst Reports
Business Intelligence Systems
By exploring this often misunderstood area of technology, this report takes an impartial view of its successes and failures, delivering a comprehensive overview of what a BI system really is, and what it can
and can’t do.
Also available:
❏ Enterprise Risk and Finance Architectures
❏ Customer Centricity
Visit www.ibsintelligence.com for more information and to order online.
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