HSBC France revamps core banking software with SAB
Image source: Reuters
HSBC France is in the process of replacing its legacy core banking system with SAB AT, provided by local vendor SAB.
The initial delivery was completed last spring, and SAB says the first go-lives in the course of 2016 were “welcomed by the users – HSBC employees”.
The roll-out will continue throughout 2017, until early 2018 – due date of the full implementation.
“This operation is unprecedented due to the size of the bank’s network in France with nearly 320 points of sale and the scope that covers both retail banking and corporate banking,” SAB states.
Capgemini is assisting with the implementation and Move Solutions with data migration.
Fintech in France
Barclays’ operations in France are being taken over by AnaCap Financial Partners, a UK-based private equity firm. The sale includes retail banking business, life insurance business, wealth and investment management and brokerage operations.
As a result, there will be a complete overhaul of the IT platforms.
BNP Paribas is buying a 95% stake in Financière des Paiements Électroniques (FPE), which provides the digital-only bank Compte-Nickel.
Compte-Nickel is also a user of the SAB AT core banking platform.
Banque de France is modernising its payments tech with another domestic software vendor, Sopra Banking Software.
Telecoms firm Orange is to bring to market a new mobile bank – Orange Bank – together with French insurer Groupama, in the course of 2017. Last year, Orange acquired 65% of Groupama shares.
