Globus, a Swiss banking system owned by Temenos International and distributed locally by Global Technology Limited, showed the highest growth in its sector - international banking systems - in 1998. Globus sold eight more sites than its nearest competitor, Opics.
A recent report issued by the International Banking Newsletter indicates steady growth in the last five years for this relative newcomer. Ray Leonard, CEO of Global Technology, comments, "This growth is significant in view of banks` changing their banking system only every 10 - 20 years because of the cost and the relative long implementation periods."
Globus has been well accepted in the small to medium sized and niche banks, however the last year saw it implement the system at large banks, such as Credit Suisse.
Kevin Williams, MD of Temenos Southern Africa says, "Globus is a fully modern system with the technology and scalability to support as many or as few users as needed. It supports retail, private, treasury and commercial banking."
Williams continues: "Twelve of the 33 sites sold in 1998 were in Africa. The World Bank and the IMF generally support the concept of getting the reserve banks in African countries running efficiently, thus giving the economies in these countries greater stability. Temenos SA, part of Global Technology`s banking division, is implementing the Globus system into the Zimbabwean Reserve Bank, and will apply the same method to ensure the success of the implementation in the Swaziland Reserve Bank."
Global Technology has been distributing Globus for four years, and is currently the top selling distributor for the product. Its holding company recently purchased a stake in Temenos International, providing opportunities for Global Technology for greater distribution rights, as well as international training and implementation.
Current Globus clients include Nedcor, Cashbank, TA Bank and Southern Bank. Standard Totta d`Mozambique and the Reserve Bank of Swaziland have recently signed contracts with Temenos SA to implement the system.
Global Technology is a leading provider of software solutions to the banking, insurance and financial services sectors. The Group listed on the JSE in November 1998.
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