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UBC Bank has become the tenth user of GrapeCity’s core banking system, out of a small local community of about 15 commercial banks. GrapeBank has replaced Bancs from TCS. 

GrapeCity and UBC Bank signing ceremony

Ulaanbaatar City Bank (UBC Bank), a commercial bank with nine branches across the capital of Mongolia, has gone live with the GrapeBank core banking offering from local vendor GrapeCity Mongolia. UBC Bank has replaced TCS’s core solution, Bancs, which it had been using since 2005. As TCS’s partner in the country, GrapeCity was already familiar to the bank, and the two organisations entered talks at the start of 2011 about replacing Bancs with GrapeBank. The solution taken covered core retail banking functionality plus a general ledger and management information system.

‘We needed a modern platform that would provide greater functionality for lower support and maintenance costs, coupled with superior connectivity options with third party systems and native language support,’ says O Banzragch, deputy CEO of UBC Bank. The bank had looked at other offerings and also considered upgrading Bancs, before deciding on GrapeBank. As well as ‘very reasonable pricing’, the bank felt that GrapeBank conformed best to banking and financial practices in the country. ‘Over the last couple of years we have seen GrapeCity’s banking solutions successfully deployed at other major banks in Mongolia,’ says Banzragch. 

The advantages UBC Bank was looking for include easier product development, tightly integrated reporting and analytical capability and easier manageability, as well as lower operating and support costs. The project, which finished in July, also allowed processes to be streamlined, Banzragch says, ‘eliminating tedious and time-consuming tasks that were required in the legacy system, due to its limited customisation and configuration options’.   

UBC Bank is one of about 15 commercial banks in Mongolia. TCS is the international supplier with the largest presence but this has been eaten into by GrapeCity. As well as UBC Bank, Erel Bank is another former customer of TCS which went live with GrapeBank in 2010. Oracle FSS has one customer for Flexcube in Xacbank (IBS, January 2010, Mobile hordes). R-Style Softlab, the Russian vendor, also has a core banking customer in Chinggis Khaan Bank. 

GrapeCity Mongolia is now an independent company but was originally part of GrapeCity Corporation, a Japan headquartered company. The Mongolian part bought itself out in 2009. In the core banking space its first experience came as a local partner for FNS (now owned by TCS), about ten years ago. This coincided with FNS making inroads into the country, signing a number of institutions for Bancs up to about six years ago. As well as Erel and UBC Bank, these included Zoos Bank in 2004 and Savings Bank in 2005. Khan Bank, the largest bank in the country, and the Central Bank of Mongolia, were also signed. These are the only two banks in the country still running Bancs. Since being TCS’s partner, GrapeCity has developed its own core banking system. Ten Mongolian banks now use this. 

GrapeCity is currently working on a payments system, says Munkhsambuu B, the supplier’s international sales and marketing manager. He also states that GrapeCity is looking into options for international expansion. 

 


Unlike some ‘news’ sites, IBS Intelligence never copies press releases. This article has been written by our independent reporters to provide a concise, researched story that gets straight to the point. 

 

by Darshana Adanwale
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