Banka Kovanica in core banking system revamp with ABBA
Karlo Kosina, ABBA board advisor, and Nicola Ceccaroli, CEO and chairman of Banka Kovanica
Croatia-based banking software developer, ABBA, has gained a new taker of its flagship core banking system, NovaDoba. This is a local bank, Banka Kovanica d.d. Varaždin.
The agreement was signed in early March, “following months of negotiations”, says the vendor. The work on data migration and the implementation of the new solution has already begun.
Nicola Ceccaroli, chairman of Banka Kovanica, describes technology as “a disruptive force in the banking industry”. He adds: “It is still not clear who will survive this Darwinian scenario. Outsourcing, cloud computing and fintech partnerships are questioning the traditional meaning of economies of scale. Small players will not necessarily be the losers.”
The bank itself is a small entity, with 13 branches across Croatia. It is owned by an Italian banking group, Cassa di Risparmio della Repubblica di San Marino. Banka Kovanica focuses on consumer lending and short-term corporate lending (factoring).
ABBA’s NovaDoba core banking platform is mainly used by local banks, but there are also installations in Montenegro, says the company’s CEO Ivica Hasanec. Customers include KentBank, Nava Banka and Banko Splitsko Dalmatinska. The vendor’s first client in Montenegro is Zapad Banka – it installed NovaDoba last year.
