Misys acquires IND Group
10 February 2014 | 6750 views | 0
Misys has acquired Hungary-based IND Group, a supplier of online and mobile banking and personal financial management tools to 30 banks worldwide.
Founded in 1997, IND Group clients include Alior, Erste Bank, and UBS, supported by over 200 employees based from eight offices.
Misys struck a partnership with IND Group in March last year to deliver a new front-end to its BankFusion package under the Digital Channels brand.
Alex Kwiatkowski, head, IDC/Financial Insights Europe, says the timing of the take-over is ideal as banks the world over begin to look at overhauling their core systems to cope with the boom in digital banking.
"IDC believes IND's advanced digital banking platform will fit seamlessly into the existing Misys product portfolio, delivering new omni-channel services and enhanced experiences to banks and their customers," he says. "In bringing IND into the family, Misys has strengthened its ability to help banks progressively transform in order to meet future market needs and achieve success through the intersection of people, process and technology."
Financial terms of the transaction were not disclosed.