Baader Bank, a securities trading bank based in Bavaria, has signed for the OBS core banking system from local vendor, Die Software Peter Fitzon.
Baader Bank, a securities trading bank based in Bavaria, has signed for the OBS core banking system from local vendor, Die Software Peter Fitzon. Eight modules of OBS will be implemented for a broad range of activity, including current accounts, credit and loans, treasury, general ledger, tax and payments including SEPA. Securities dealing will also be covered.
Baader Bank once tried and failed to implement the T24 core system from Temenos. It was a prospect picked up by the Swiss vendor following its acquisition of a German core vendor, Actis, in 2007 (IBS, December 2007, Temenos hopeful on German deals). It became clear that Baader Bank, and another T24 taker in Germany, Ready Bank, had cancelled its T24 implementation by September 2008 (IBS, September 2008, Temenos hits German setbacks).
Meanwhile, Commerzbank in Zurich, which selected OBS in late 2009 (IBS, January 2010, Die Software expands OBS user base), has recently gone live on the platform.