Case Study Banco Improsa - Great expectations
Being a small player is not at odds with having great business ambitions, but it can requiere a major technology overhaul. IBS talks to Banco Improsa in Costa Rica about how and why it decided to archieve this as a pionner taker of US-based Technisys' Cyberbank core banking system.
Outsourcing option slowing SOA adoption among certain banks - Regional
Published: Monday, August 9, 2010 17:29 (GMT-0400)
SOA adoption has been slow to take off among small and medium-sized Latin American banks, some of which are opting instead to outsource their technologies to third parties, the CEO of Argentine financial software firm Technisys, Miguel Santos, told BNamericas.
Santos said SOA awareness is tied more to the size and investment capacities of banking institutions, rather than the regions or countries in which they operate.
Additionally, their willingness to pull the trigger on SOA investments hinges greatly on whether they want to keep their technology in-house.
"I think that, in general, small and medium-sized banks are more unaware of the benefits [of SOA]," he said. "Additionally, some of these organizations are used to relying on outsourcing in some of their channels, such as online banking or ATMs."
Small and medium-sized banks in regions such as the US are generally more inclined than their Latin American counterparts to outsource, Santos said.
On the other hand, smaller banks that do adopt SOA are oftentimes swayed by client satisfaction concerns, as those institutions end up turning away from outsourcing to have greater control over their technologies and how they affect customer experience.
A larger number of small and medium-sized banks are also seen climbing aboard the SOA bandwagon during the next few years to compete with both larger institutions and trailblazing medium-sized players that have already adopted the technology.
Technisys' flagship product is the Cyberbank Multichannel suite, which presents a unified platform for financial services. The solution's design, based on SOA, handles the physical and logical integration of all distribution channels, providing for centralized administration.
Clients using the suite include Argentina's Banco Patagonia, Costa Rica's Banco Improsa and Uruguay's largest bank, state-owned Banco Republica (BROU). Meanwhile, Technisys is currently working with 10 SOA prospects, including firms in the US, Central America, Mexico, Chile, Argentina and Uruguay.
Technisys - which has offices in Mexico City, Buenos Aires, Miami and Madrid - will be presenting its SOA suite at the upcoming X CL@B event, which is being organized by Latin American banking federation Felaban.
Santos said the company expects 2010 revenues to reach US$12mn.
By Matthew Malinowski
Business News Americas
Technisys, thought leader in mobile banking at CNN
February 26, 2010
CNN interviews German Pugliese-Bassi, Executive Vice President at Technisys, about the benefits, challenges and security issues related to mobile banking.
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