Core bankingRSS

Infosys CEO quits after personal attacks


Infosys’ MD and CEO has resigned, citing a continuous stream of distractions and disruptions, and personal and negative attacks on his performance. In his notice of resignation, Dr Vishal Sikka, complained of “false, baseless, malicious and increasingly personal attacks” from the company’s founders. Sikka’s exit pushed Infosys shares down around 8% – and follows a […]

DFCU in $20m upgrade of Infosys’ Finacle core banking system


Uganda-based DFCU Bank is also upgrading its core banking software to the tune of $20 million. DFCU is moving from version 7 of its Infosys’ Finacle core banking platform to version 10.

SEFCU outsources core processing to Fiserv DNA

SEFCU swaps in-house legacy tech for Fiserv

SEFCU, a top-50 credit union in the US, is modernising its core processing software with Fiserv.

Mambu’s core banking tech to support lending business of Globe Telecom


Banking software developer Mambu has inked a large deal with Fuse, the lending arm of Filipino financial technology firm Mynt. Mynt itself is a subsidiary of Globe Telecom, a Philippines-based telco.

BML Istisharat gains two new takers of ICBS core banking system


BML Istisharat, a Lebanon-based banking software provider, has gained two new takers of its ICBS core banking system. These are Peterhouse Securities, a financial services firm in London, and Liberty International Bank in Abu Dhabi.

Lower Valley Credit Union converts to Corelation’s Keystone core

Lower Valley Credit Union revamps core tech

Lower Valley Credit Union (LVCU), a small credit union in the US state of Washington, has gone live with new core banking software, Keystone from Corelation.

Al Masraf to swap ITS Ethix for Temenos T24 core banking system

Al Masraf to overhaul front-to-back office tech with Temenos

UAE-based Arab Bank for Investment and Foreign Trade (Al Masraf) is modernising its front-to-back office technology with Temenos. On the way out is the Ethix core banking system from regional vendor International Turnkey Systems (ITS).

Faisal Islamic Bank signs for Path Solutions’ iMAL core banking system

Faisal Islamic Bank in core banking tech overhaul

Sudan-based Faisal Islamic Bank is modernising its core banking software with Path Solution’s iMAL. Path’s competitor for the deal was ICS Financial Systems (ICSFS) with its ICS Banks offering.

Harrods Bank acquired by challenger Tandem

Farewell, Harrods Bank

UK-based challenger bank Tandem has singed an agreement to acquire Harrods Bank. Tandem says it will “benefit from around £80 million of capital coming into the business”. It will also provide Tandem with a banking licence.

Haggai Mortgage Bank live with Finedge core banking system

Great reason to celebrate!

Nigeria-based Haggai Mortgage Bank has gone live with new core banking software, Finedge. The system is supplied by local tech company CWG.