22 October 2017
visit www.atos.net

Misys acquires Idom UK; unveils new retail product strategy

11 October 2004  |  6357 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  |  6969 views  |  0 comments
CC-Bank signs for Misys' Equation

CC-Bank signs for Misys' Equation

01 September 2004  |  5124 views  |  0 comments
Poor performance wipes out Misys' executive bonuses

Poor performance wipes out Misys' executive bonuses

23 August 2004  |  6065 views  |  0 comments
Misys full year profit hit by 'difficult' first half

Misys full year profit hit by 'difficult' first half

22 July 2004  |  4025 views  |  0 comments
Bank of Butterfield introduces online services with Idom system

Bank of Butterfield introduces online services with Idom system

24 October 2003  |  2745 views  |  0 comments
Royal Bank of Canada purchases Idom document management software

Royal Bank of Canada purchases Idom document management software

22 October 2003  |  2942 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  |  3435 views  |  0 comments
Brief: Anglo-Romanian Bank selects Idom for nostro reconciliation

Brief: Anglo-Romanian Bank selects Idom for nostro reconciliation

24 February 2003  |  3685 views  |  0 comments
Brief: Jamaican Bank selects Idom for Nostro reconciliation

Brief: Jamaican Bank selects Idom for Nostro reconciliation

20 January 2003  |  2652 views  |  0 comments
Offshore banks implement Idom reconciliation solution

Offshore banks implement Idom reconciliation solution

16 December 2002  |  2816 views  |  0 comments
Misys and Idom to co-market document solutions

Misys and Idom to co-market document solutions

03 October 2002  |  3311 views  |  0 comments
Idom acquires eFunds' IFM Internet banking solution

Idom acquires eFunds' IFM Internet banking solution

23 August 2002  |  3350 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comRegister nowvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
11462 views comments | 17 tweets | 24 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
11275 views comments | 22 tweets | 27 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9291 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
8368 views comments | 10 tweets | 22 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8335 views comments | 9 tweets | 18 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job