Demand for digital solutions drives 24% growth in Misys banking business
- Banking , Infrastructure
- 12.10.2015 01:00 am
Misys, the leading financial software company, is working with banks across Asia to meet increasing demand for its FusionBanking solutions – 24% growth in the past two years driven by core banking transformation projects, digitial banking demand, and pan-regional processing initiatives by banks in trade finance and lending. It has also seen 70% growth in global demand for its FusionBanking Corporate software portfolio in the past 12 months, as banks have begun to formalise digitization strategies in corporate banking in particular.
“This explosion in demand for Misys illustrates the requirements of banks’ growth ambitions and their need for leading edge solutions to differentiate their services,” says Chris Curtis, Regional Director, Misys Asia. “Historically, software vendors in this space have been highly specialised in areas such as retail, corporate or transaction banking. Misys is in a unique position having delivered specialist technology for every aspect of banking, and now with the ability to bring it all together for our customers as they look to connect, innovate and expand their banking businesses.
We are actively growing our Asia business, which currently contributes around 15% of the company’s total revenue. We operate across 19 countries in the Asia Pacific region, and have a strong presence in emerging markets including China, which currently generates 15-20% of total revenue in the region. A particularly bright spot is our business in Asean which saw an Initial License Revenue growth of 88%.”
The company has also grown its partner eco-system and now has six partners within its InFusion Partner programme: SunLine, Sing Lee and Brilliance in China, FinPacific in Australia, Intelligent Wave in Japan and South Korea and NSS in Japan.
“The interest in digitization across Asia Pacific has been tremendous,” said Curtis, “and applied in a variety of ways. Bank BTPN in Indonesia is implementing our FusionBanking Essence Digital solution to pursue its growth plans into retail banking. A top three bank is Australia has chosen to add the commercial lending module of our corporate channels solution to extend commercial loan servicing to corporate clients via the web and be more competitive and efficient in the way it does business with its clients. And Yoma Bank was a landmark win for us as the first FusionBanking Essence customer in Myanmar.”
Misys is helping banks of all sizes build resilient pan-regional operations to provide regional processing solutions for trade and supply chain finance and commercial lending. For example, National Bank of Australia has centralised its pan-Asia operations and digital channels for trade finance with Misys, and within six months, the bank saw a 15% increase throughout its trade finance business outside of its domestic Australian business. And ANZ has chosen Misys as part of its strategy to consolidate global commercial lending operations with a pan-regional platform to drive efficiency, resilience from a risk transparency point of view and service level advantage to remain competitive.