Misys, the financial software company has acquired IND Group, a digital channels solutions company. According to the statement, the acquisition adds consumer-oriented solutions to Misys’ core banking capabilities, delivering the broadest retail banking solution in the market.
This acquisition builds on the partnership which the financial software company signed with IND Group in March 2013 and will augment future investment in the combined offering. IND brings to Misys a wealth of technical expertise, innovation and a passion for changing the way in which banks interact with customers. The suite of pre-integrated solutions is now available to all banks, including Misys’ 500 plus core banking customers equipping them to deliver an omni-channel experience to consumers. The company said, these customers are now able to leverage greater customer insight across both branch and online interactions banks, transforming their digital channels into a customer engagement and sales business, giving more opportunities for revenue generation.
“This is very exciting for us and our customers,” said Nadeem Syed, Misys’ CEO. “The market for digital banking is exploding. More than half a billion people already use mobile devices for personal banking and this is set to double in the next four years. This deal reinforces our digital banking proposition in this rapidly expanding area by adding world-class consumer-oriented solutions to our offering. It helps us continue to grow our business, following six straight quarters of revenue growth, and secure our leadership position in banking.”
“The acquisition of IND Group makes perfect strategic sense. The timing is ideal in order to capitalise on the opportunities, which are emerging in Europe and Asia. IDC believes IND’s advanced digital banking platform will fit seamlessly into the existing Misys product portfolio, delivering new omni-channel services and enhanced experiences to banks and their customers. 2014 is set to be the year when financial institutions begin the process of deciding upon their core systems transformation strategy, and digital channels will be an intrinsic element in this planning activity,” said Alex Kwiatkowski, Head, IDC/Financial Insights Europe.
Balázs Vinnai, IND Group CEO added, “Our vision has always been to help every person on the planet better understand their daily finances and give everyone the chance to have an easier and healthier financial life. Consumers look for convenience and ease when choosing financial products. We equip banks with the tools to improve the experience for anyone dealing with their finances. Joining Misys will help make this global vision a reality faster by accelerating the development of our digital channels solutions.”