Core banking vendor Misys is planning to license its next-generation BankFusion platform to third party developers in an effort to promote the product as an industry tool.
As with Apple's successful AppStore programme, Misys says developers who come on board will need to have their apps accredited before they can market them to the wider BankFusion community.
The strategy was outlined to analysts at an investor presentation this week.
The programme is dependent on the availability of BankFusion Common Components and artefacts to third party developers, around which they can develop their specific incremental apps without having to recreate all aspects of the underlying application.
Misys has accordingly set a loose 2012/13 timeframe for the initiative.
The vendor presented BankFusion to analysts as its first new universal banking system in seven years. The process-driven platform is pitched at sub-Tier 1 banks and currently claims eight customers.
It is being pitched as the successor platform to the large installed Midas and Equation user base, with an evolutionary roadmap sketched out for users.
"The introduction of BankFusion now offers Misys the opportunity to consolidate business expertise and technical knowledge into the production of new business functionality that can be shared between these solutions," says the Misys presentation document. "This will have a powerful effect in realising commercial efficiencies through the further removal of product-centric solution silos across the company."
The approach has won over analysts who have marked up the company's share price
from the low 220 pence mark last week to a current standing of 240 pence.
You can download the full presentation here:Download the document now 594.4 kb (PDF File)