Misys plc (FTSE: MSY.L), the global application software and services company, today announces that it has completed more than 14 Misys Midas Plus implementations in 2007, with over 50 customers already having licensed the advanced core banking system.
As banks look to standardise business practices to improve efficiencies, mitigate risk and achieve consistent levels of service across their operations, a large number have turned to Misys for its advanced core banking solution, Misys Midas Plus. Some of the recent implementations include HSH Nordbank, VTB and Credit Industriel et Commercial in London and Private Export Funding Corporation.
"It is pleasing to see so many global banks have decided to benefit from the advanced functionality within Misys Midas Plus," comments Steve Turner, Professional Services Director, Misys Banking. "With over 350 financial institutions relying on Misys Midas in more than 500 locations throughout the world, more and more of them are focusing on standardising their business practices to improve efficiencies, reduce risk and achieve consistent levels of service. Our world-class professional service teams have made sure that these implementations are completed rapidly and without disruption to the ongoing business of the bank. We look forward to maintaining this success rate and to delivering even more value to our customers in the future."
Financial institutions in today's market face the challenge of mastering increased complexity, driven by the effects of globalisation, frequently changing regulations and multiple, technically complex IT applications. This has led to a strengthened demand for Misys Midas Plus and in particular its global processing capabilities. Users of Misys Midas Plus are able to see all data from their entire operations in a single coherent picture, minimising operational risk and improving efficiency. Global processing gives banks an enterprise-wide view of all management information, which enables executives to make better informed decisions, faster than ever before and allows them the flexibility to explore new markets with minimal additional investment.
Furthermore, Misys has partnered with HCL to create an Upgrade Solution Centre, leveraging worliing world-class professional services skills and technical tools to accelerate the migration of Midas customers to Midas Plus. As part of this initiative, Misys and HCL are already upgrading Indian Overseas Bank and other customers to Midas Plus.
The number of Misys clients delivering results to their customers by using the Misys Midas portfolio of solutions has grown strongly over the last year. At present, more than 50 financial institutions, including corporate/wholesale banks, international hubs, regional universal banks and international financial centre operations, have committed to Misys Midas Plus to power their business and drive value for their customers.