Misys has been named as a Leader in Gartner’s 2016 Magic Quadrant for Global Retail Core Banking*, for its FusionBanking Essence solution.

Misys FusionBanking Essence is an integrated and comprehensive retail banking system with a componentised architecture that rapidly transforms a bank’s operations, enabling an outside-in transformation. It provides an optimal level of automation and straight-through processing to drive growth and enhance customer satisfaction. Further to selecting FusionBanking Essence, Co-operative Bank of Kenya increased profits by 31%. It doubled transaction processing speed across all channels and reduced time taken to complete end-of-day processing by 40%.

Nadeem Syed, CEO at Misys, said, “The banking landscape is changing rapidly and banks are facing new challenges in their operating environment, as well as tackling legacy technology issues. These things combined impact the ability to grow and meet customer demand. FusionBanking Essence means banks can build new financial products rapidly and deliver these to customers through integrated digital channels in a matter of days, not months. We believe that being recognised as a Leader in this field by Gartner demonstrates the weight of our offering.”

According to Gartner, “Leaders in the Global Retail Core Banking market tend to possess a high-order market understanding — that is, they make it their business to monitor market trends, funnelling progressive innovation into their product roadmaps.”

The Gartner 2016 Magic Quadrant for Global Retail Core Banking assesses the suitability of core banking providers and their product offerings on both execution and completeness of vision. It recognises the relevance of vendor and product attributes, and their alignment with critical business strategies and technology trends.