17 August 2017
Find out more

Misys acquires Idom UK; unveils new retail product strategy

11 October 2004  |  6301 views  |  0 Misys

Misys Retail Banking has announced the acquisition of Idom UK as part of a larger strategy for retail banking, including new product developments and partnerships.

The acquisition will create technology designed specifically to meet the needs of smaller ambitious and off-shore institutions, says Misys. Idom's front-end technology will be bundled with Misys' Bankmaster LAN product to create Bankmaster Plus. Available immediately, the software will use a Windows interface and flexible reporting capabilities to enable existing users to add all of the new front-end modules when required.

Misys has also signalled the introduction of a new software architecture, Equation Plus, based on the porting of its existing Equation product to a new standards-based open Java platform. Due in Q1, 2005, the multi-channel software has been designed to help banks respond to the shifting boundaries between retailing and banking.

This will provide more choice on hardware and software systems and should make integration project faster through access to a far wider skills pool, says the vendor. In addition to running on an IBM iSeries, Equation plus will also run on open Unix systems using a choice of DB2 or Oracle 10g database technology.

Explaining the rationale behind the new Misys strategy, Andrew Derrer, CEO of Misys Retail Banking says: "Banks of all sizes have to adapt to a very different market where customers expect more sophisticated products from more channels in more ways. The only way banks can succeed is by either cutting costs and competing on price, or, more profitably, by out-retailing their competition as well as out-banking them."

"Banks need to have the right architecture in order to make this move. Equation Plus streamlines commodity services, delivers every product through every channel, enables the bank to truly understand its customer and still provides room for innovative, differentiated new services," he adds.

In addition, the Equation Plus architecture will also introduce a business process management component and rules engine through which banks can configure the system to meet their particular business demands going forward.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Absa Bank deploys Misys Message Manager

Absa Bank deploys Misys Message Manager

07 October 2004  |  6866 views  |  0 comments
CC-Bank signs for Misys' Equation

CC-Bank signs for Misys' Equation

01 September 2004  |  5049 views  |  0 comments
Poor performance wipes out Misys' executive bonuses

Poor performance wipes out Misys' executive bonuses

23 August 2004  |  6008 views  |  0 comments
Misys full year profit hit by 'difficult' first half

Misys full year profit hit by 'difficult' first half

22 July 2004  |  3972 views  |  0 comments
Bank of Butterfield introduces online services with Idom system

Bank of Butterfield introduces online services with Idom system

24 October 2003  |  2706 views  |  0 comments
Royal Bank of Canada purchases Idom document management software

Royal Bank of Canada purchases Idom document management software

22 October 2003  |  2898 views  |  0 comments
HSH Nordbank installs Idom regulatory reporting system at NY office

HSH Nordbank installs Idom regulatory reporting system at NY office

03 October 2003  |  3397 views  |  0 comments
Brief: Anglo-Romanian Bank selects Idom for nostro reconciliation

Brief: Anglo-Romanian Bank selects Idom for nostro reconciliation

24 February 2003  |  3634 views  |  0 comments
Brief: Jamaican Bank selects Idom for Nostro reconciliation

Brief: Jamaican Bank selects Idom for Nostro reconciliation

20 January 2003  |  2594 views  |  0 comments
Offshore banks implement Idom reconciliation solution

Offshore banks implement Idom reconciliation solution

16 December 2002  |  2771 views  |  0 comments
Misys and Idom to co-market document solutions

Misys and Idom to co-market document solutions

03 October 2002  |  3268 views  |  0 comments
Idom acquires eFunds' IFM Internet banking solution

Idom acquires eFunds' IFM Internet banking solution

23 August 2002  |  3300 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comdownload the paper nowvisit www.worldpaymentsreport.com

Who is commenting?

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10508 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9910 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9865 views comments | 8 tweets | 15 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8226 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7690 views 0 | 1 tweets | 8 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job