15 December 2017
visit www.aciworldwide.com

Misys acquires Idom UK; unveils new retail product strategy

11 October 2004  |  6387 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  |  7056 views  |  0 comments
CC-Bank signs for Misys' Equation

CC-Bank signs for Misys' Equation

01 September 2004  |  5371 views  |  0 comments
Poor performance wipes out Misys' executive bonuses

Poor performance wipes out Misys' executive bonuses

23 August 2004  |  6086 views  |  0 comments
Misys full year profit hit by 'difficult' first half

Misys full year profit hit by 'difficult' first half

22 July 2004  |  4046 views  |  0 comments
Bank of Butterfield introduces online services with Idom system

Bank of Butterfield introduces online services with Idom system

24 October 2003  |  2763 views  |  0 comments
Royal Bank of Canada purchases Idom document management software

Royal Bank of Canada purchases Idom document management software

22 October 2003  |  2968 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  |  3448 views  |  0 comments
Brief: Anglo-Romanian Bank selects Idom for nostro reconciliation

Brief: Anglo-Romanian Bank selects Idom for nostro reconciliation

24 February 2003  |  3711 views  |  0 comments
Brief: Jamaican Bank selects Idom for Nostro reconciliation

Brief: Jamaican Bank selects Idom for Nostro reconciliation

20 January 2003  |  2687 views  |  0 comments
Offshore banks implement Idom reconciliation solution

Offshore banks implement Idom reconciliation solution

16 December 2002  |  2837 views  |  0 comments
Misys and Idom to co-market document solutions

Misys and Idom to co-market document solutions

03 October 2002  |  3330 views  |  0 comments
Idom acquires eFunds' IFM Internet banking solution

Idom acquires eFunds' IFM Internet banking solution

23 August 2002  |  3367 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.response.ncr.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10352 views comments | 17 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9682 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9104 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7672 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7297 views comments | 15 tweets | 24 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job