Misys Acquires IND Group to Create Power House in Retail Banking Solutions
LONDON and BUDAPEST, Hungary, February 10, 2014 /PRNewswire/ --
First solution on the market uniting core and digital banking for banks
Misys, the leading financial software company has acquired IND Group, the leading innovator in digital channels solutions. The acquisition adds world-class consumer-oriented solutions to Misys' leading core banking capabilities, delivering the broadest retail banking solution in the market.
IND Group is an innovator and provider of award-winning online and mobile banking, personal finance management and payments solutions. Founded in 1997, it now has more than 30 clients around the world, including Alior, Erste Bank, and UBS, supported by over 200 employees based from eight offices. IND's digital solutions enable banks to differentiate themselves from their competitors by delivering the highest quality experience to customers online.
This acquisition builds on the partnership which Misys 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. 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," comments 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," states Alex Kwiatkowski, Head, IDC/Financial Insights Europe. "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. In bringing IND into the family, Misys has strengthened its ability to help banks progressively transform in order to meet future market needs and achieve success through the intersection of people, process and technology."
Balázs Vinnai, IND Group CEO, adds, "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."
Misys plans to increase investment in all areas of the business, further scaling it and increasing geographic reach for the innovative solutions. This ensures that more Misys customers can gain a significant competitive edge in digital banking.
Solutions are available pre-integrated with Misys BankFusion and will add value to all core banking customers, delivering faster digital channel deployments. Misys will leverage technology from both organisations to create genuinely omni-channel customer journeys across branch and digital channels. Banks will be able to understand their customers better, deliver targeted marketing and drive revenue.
- To view the video of Nadeem Syed, Misys CEO, and Balázs Vinnai, IND Group CEO click here
- For more information on the two companies, click here
About IND Group
IND Group provides innovative best-in-class digital banking technology for financial institutions. The key differentiator of our banking and payments solutions is the deep focus on customer experience and enhanced sales capabilities. With IND banks can have sophisticated, differentiating digital solutions while still managing their costs. We evolve online banking technology to web 2.0, turning it into a sales and customer engagement platform.
Social networks or mobile apps, have raised customer expectations - towards banks as well. We help the financial community to meet these expectations based products that were designed using data visualisation, simplification of banking language and extensive usability testing. Our product portfolio includes sales utilization tools as well as elements for strengthening customer loyalty.
Misys provides the broadest portfolio of banking, treasury, trading and risk management solutions available on the market. More than 1,900 banks and financial institutions use Misys software to run their businesses, all benefitting from the continual investment in innovation and product quality. Misys solutions create value across banking and trading book operations, underpinned by the deep domain expertise and experience of Misys employees and partners who help ensure customers get maximum benefit from the solutions and operate more effectively.
With high quality products and support Misys customers are able to grow and protect their long-term technology investments. Misys has the broadest range of solutions available to meet the most complex requirements. Visit http://www.misys.com to see how Misys and its extensive network of partners can add value to the financial services industry.
For further information please contact
Global Head of Public Relations