Misys fuses IBM into banking platform 27 January 2012London Reporter: Anna Reitman
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Misys has selected IBM software to help power its BankFusion platform so that banks can develop new processes or adapt existing processes faster and better.
Under the licensing agreement, Misys is incorporating IBM business analytics, information management and application server software, including Business Process Server, into its BankFusion platform. As a result, clients will be able to install a proven, certified process management technology without the need for additional integration and testing of banking applications.
Robin Crewe, CTO at Misys, said, "BankFusion already provides outstanding intra-process flexibility; for example, it is easy for a bank to use BankFusion to change the steps in their customer acquisition process. The addition of IBM Process Server to the platform will give us extremely powerful inter-process flexibility; this is particularly useful for so-called ‘long running processes’ where the steps in the process are disconnected or run in parallel."
For example, a loan approval process could involve several internal approvals as well as an external credit check and receipt of an external assessor’s approval of a collateral valuation; IBM Process Server enables Misys to orchestrate this sort of process flow very easily and flexibly.
"The new capabilities provided by IBM will be helpful to banks in all tiers. Tier 3 and 4 banks will in particular benefit by buying a pre-integrated solution that can cover hardware, middleware and rich application software. Tier 1 and 2 banks will also benefit from these capabilities but we expect they will be attracted more by the proven scalability of products like [IBM's] DB2 and IBM process serve," he adds.
Misys is also adopting IBM’s Information FrameWork and will work to ensure that the processes developed within its BankFusion solutions follow the framework’s comprehensive business and data models. This will enable Misys to accelerate the development of new banking processes. It will also help clients, who are following a model-based approach to the renovation of their banking systems, by providing them with an out-of-the-box set of software that helps simplify their business models.
“Financial services clients are looking for faster and simpler ways to modernise core banking systems while keeping technology costs in line with growth strategies,” said Arvind Krishna, general manager, IBM Information Management. “The combination of Misys and IBM software can help clients better manage and analyse their data to meet these goals and set the stage for new products and services that provide a competitive advantage.”
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