Misys Collaborates With Microsoft to Extend Financial Services Applications to the Cloud on the Windows Azure PlatformBy Misys Plc, PRNE
Sunday, October 24, 2010
Global Alliance With Microsoft Enables Innovative Delivery of Banking Services
AMSTERDAM, October 25, 2010 - Misys plc (LSE: MSY), the global application software and
services company, announces a new strategic alliance with Microsoft Corp.
This new initiative builds on last year's mission-critical applications
development alliance and will deliver Misys' banking and capital markets
applications via the Windows Azure cloud platform. The technical
collaboration with Microsoft, announced at Sibos 2010 in Amsterdam, will
provide financial institutions with the choice and flexibility they need to
maximise the return on their IT investment and deliver innovative services to
their customers more rapidly.
Today at Sibos, Steve Ballmer, chief executive officer of
Microsoft, released the following comments on the significance of this
collaboration to the industry, via video (tinyurl.com/24y8j2l).
Financial institutions typically depend on a multitude of
applications and systems that are integrated with customers, partners and
external financial networks. Running these applications requires complex data
centre and support structures that are expensive to operate. Cloud computing,
and specifically Windows Azure, enables banks to move from a capital
intensive cost model to one which is based on the consumption of technology.
No longer will banks need to over-order computing resources because the scale
of the Azure platform allows high volume workloads such as end-of-day
processing to be consumed on demand.
Misys and Microsoft have successfully deployed instances of
the Misys BankFusion Universal Banking solution to the Windows Azure
platform. The Misys solution is built on state-of-the-art BankFusion
technology, which adheres to a rigorous set of standards but is unconstrained
by proprietary infrastructure, which makes it possible to run the solution in
the cloud. Both companies have received significant interest from banks
looking to reduce complexity and operational risks by running their banking
systems in the cloud.
"The combination of BankFusion, the most advanced financial
services platform on the market today, and the innovative Windows Azure cloud
computing infrastructure is world-beating," said Al-Noor Ramji, EVP and
General Manager, Misys. "New banking solutions must reduce operational costs.
By making our solutions available in the cloud, we are enabling our clients
to benefit from increased agility with lower TCO and risk, while
simultaneously providing them with unprecedented speed and flexibility with
access to the latest solutions. The initiative lets banks concentrate once
again on the business of banking."
"This is a very exciting time for the financial services
industry," said Karen Cone, general manager, Worldwide Financial Services,
Microsoft. "Our enterprise cloud computing expertise, coupled with the
industry-leading solutions from Misys, brings a unique value proposition to
the sector. Through strategic engineering alliances with industry leaders
such as Misys, we are focused on delivering both the on-premise and
cloud-based solutions that our customers need to gain the benefits of cloud
services on their own terms. They are able to leverage and extend their
existing IT investments to take advantage of cloud computing, resulting in a
reduction of cost and the ability to enhance operations through cloud-based
improvements and build transformative applications that create new business
"Globally, large banks face increasing demands for innovative,
scalable services across business units to meet both competitive forces and
marketplace expectations. At the same time, smaller banks are beginning to
understand the value of investing in operations, processes, and technologies
that make them more flexible and nimble," said Rodney Nelsestuen, Senior
Research Director, TowerGroup. "Whether large or small, today's financial
institutions must seek to improve operations while not losing sight of the
need to manage costs closely. "To that end, TowerGroup has witnessed a
growing interest in new variable cost models and on demand service models
such as those emerging in cloud computing, or newer forms of managed and
shared services, and outsourcing across a variety of technologies and
services. These emerging approaches offer large banks the opportunity to
leverage scale while smaller banks can compete effectively through shorter
time to market and lower upfront investment."
The collaboration between Microsoft and Misys demonstrates
that the financial services industry is now moving to the next generation of
banking platforms. Many financial institutions already run finished services
in the cloud such as Microsoft Exchange, Microsoft Office and Microsoft
Dynamics CRM Online solutions. This news extends the Microsoft cloud
capability to banking applications.
Mike Lawrie, Chief Executive of Misys, believes this is an
innovative step forward for the financial services industry. His filmed
comments can be viewed at this link (tinyurl.com/2g6s99j).
About Misys plc
Misys plc (LSE: MSY), provides integrated, comprehensive solutions
that deliver significant results to financial services organisations. We
maximise value for our customers by combining our deep knowledge of their
business with our commitment to their success.
Misys is a market leader banking and treasury & capital markets, with
over 1,200 customers, including all of the world's top 50 banks. Misys
employs around 3,500 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services
company, delivering results for the financial services industry throughout
Misys: experience, solutions, results.
Contact us today, visit: www.misys.com
For further information please contact, Edward Taylor, Global Head of Public Relations, Misys, Solutions for Banking and Treasury & Capital Markets, +44-(0)20-3320-5530, edward.taylor at misys.com, Sebastian Mathews, Financial Dynamics, +44-(0)207-269-7158, sebastian.mathews at fd.com
Tags: Amsterdam, Misys plc, Netherlands, October 25