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The US market continues to be dominated by a handful of domestic players. Global players are making a push in this lucrative market. Community banks and credit unions are a major area of focus for banking technology suppliers, with domestic and foreign players looking to capitalise on the opportunity from the 5,000+ such institutions that operate in the country.

 

US | Domestic IBS Sales League Table 2017

US | Domestic IBS Sales League Table 2017

Jack Henry remains the dominant player, with its SilverLake and Episys systems topping the table with 22 and 15 deals respectively. The number of SilverLake deals increased from 14 to 22 in 2016. The company continues to have success in the credit unions and community banks space. A couple of notable wins for its SilverLake system in 2016 included MVB Bank, a Fairmont-based community bank and a deal from Rosedale Federal Savings & Loan Association. The Episys system had takers from several credit unions, including the likes of AltaOne Federal Credit Union and Credit Union of Texas. More than 80% of Jack Henry’s deals were on a hosted basis.

FIS’ Horizon, which won 25 deals in 2014 and 14 in 2015, reported a lesser number within the US, with nine in 2016, largely from savings and community banks. The system also won three deals in the international arena during the year. IBS, which is another product offering from FIS, witnessed a sharp decline, from 15 in 2015 to four in the US in 2016. Mimics is a new entrant to the domestic league table, with three deals during 2016. These were in the wholesale banking space.

While it does not feature in the domestic league table for the USA, Temenos had significant success in the country in 2016, with 15 deals. This is largely on the back of its acquisition of Akcelerant in 2015. Most of these (more than 90%) were in the credit union space, highlighting the fact that the large global players have also started making in-roads. Misys, another notable global player, also reported three deals in the US in 2016.

by Darshana Adanwale
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