Misys signs SwiftNet MoU

Misys signs SwiftNet MoU

Misys International Banking Systems has signed a memorandum with Swift to "define, develop and market new value added services and products based on SwiftNet", the interbank messaging outfit's new IP-based network.

Misys and Swift are being cagey about the precise implications of the MoU, but the two organisations have been engaged in substantive dialogue for some time.

Gordon Ejsmond-Frey, Misys-IBS director of multi-channel services, describes the introduction of SwiftNet as a "once in a generation opportunity" to deliver a step change in the quality of information services to banks.

He says: "The move to SwiftNet opens up a whole new set of possibilities and really the implications for Misys go across all of our products."

The key to new product delivery will centre on functional business demand for information sharing among banks, he says, based upon new applications designed to take advantage of real-time data exchange over SwiftNet.

"We will be looking to work with Swift to announce a number of different product initiatives in the New year," says Ejsmond-Frey. "We are looking to allow institutions to share information across a wide range of banking and securities activities."

The two organisations say they will also share high-level information regarding trends in the marketplace and in identifying mutual opportunities.

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