Standard Bank first to implement Misys BankFusion

Standard Bank first to implement Misys BankFusion

UK fintech vendor Misys says South Africa's Standard Bank is the first company to implement its new BankFusion Universal Banking platform.

BankFusion Universal Banking is the first system built on the Misys BankFusion platform, which Misys has been developing since acquiring the technology in late 2006 when it bought out Dublin-based Trapedza Financial Systems.

Last year Guy Warren, EVP and General Manager, Misys Banking, told Finextra that BankFusion would be the basis of a new framework that customers can use to add a flexible, service-oriented architecture layer on top of existing back-office systems.

The Java, SOA-enabled system includes general ledger, current and savings accounts, consumer lending, payments, limits and multi-currency capabilities. The technology gives banks the flexibility to add new products and processes as well as the choice of what hardware, software and services to use, whilst cutting technology and operational costs, says Misys.

Misys says BankFusion Universal Banking will be implemented at Standard Bank's Zimbabwe operations and will enable the bank to improve operational efficiency at the same time as providing a total view of all accounts and interactions with customers. The bank will also be able to create new products with minimal need for IT intervention or negative impact on the customer, says Misys.

"For the first time business managers can engage with their IT colleagues, focusing on the business, rather than the technology," says Warren in a statement. "This pure Java SOA-enabled universal banking solution is set to change the face of customer-centric banking."

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