Strategic Partnership to Help Banks Reduce IT Complexity and Cut Costs
WALLDORF, Germany and LONDON .- SAP AG (NYSE: SAP) and Misys plc (FTSE: MSY) today announced an agreement to deliver integrated solutions for the global banking industry. This agreement aims to provide banks with a broad set of solutions from one source, helping them reduce complexity, grow revenue, increase flexibility and lower costs.
Banks are looking for fewer, more strategic vendor relationships. The strength of SAP applications and its platform for banks combined with Misys’ domain expertise and leading position in the banking software sector will bring banks a rich technology platform and range of solutions available in the market today.
Under this agreement, SAP and Misys will work together on an integrated universal banking solution, based on Misys BankFusion that will run on the SAP NetWeaver® platform. SAP and Misys will look at integrating SAP components, such as general ledger, into Misys BankFusion. It is intended that the universal banking solution will be jointly marketed by both companies.
In addition, the award-winning Misys Trade Portal and Misys TI Plus 2.0 will be endorsed by SAP to work with the existing SAP for Banking solution portfolio to offer banks a complete end-to-end solution, enabling market-leading trade services dedicated to a bank’s trade finance requirements.
The last element of the collaboration is the integration of SAP® Customer Relationship Management (SAP CRM) into the Misys retail banking solution set to enhance capabilities for customer-oriented processes such as targeting, attraction and retention.
“A key part of our strategy is developing winning partnerships, and this is a powerful combination that brings together best-of-class solutions to build an offering that is unique in the marketplace,” said Mike Lawrie, Misys plc Chief Executive. “This allows us to reach markets that we have not been able to reach previously and will enable us to deliver results for new and existing customers. The application know-how and market presence from SAP combined with Misys’ domain expertise and market-leading position in banking software will enable global banks to get the best technology and a broader set of solutions from us.”
“This partnership is a fine example of SAP’s long-term strategy of co-innovation,” said Léo Apotheker, deputy CEO, member of the executive board and president, Global Customer Solutions and Operations, SAP AG. “It includes key aspects to enhance the SAP platform and add value to a bank without creating IT complexity. The deployment of leading partner solutions on SAP software and the SAP platform creates a win for banks by bringing together the best of two worlds. Co-innovation with a strategic partner like Misys is an important element in SAP’s growth in the banking sector and demonstrates our long-term commitment and investment in this market.”
The partnership between SAP and Misys is effective immediately although there is no material financial impact expected this calendar year.
View video messages from Mike Lawrie and Léo Apotheker at:
A conference call for analysts and investors hosted by Guy Warren, EVP and General Manager Misys Banking and Thomas Balgheim, Head Line of Business Banking, SAP AG will held at 10.00BST. To access this call please dial +44 (0) 1452 561394; Passcode 17382662. The call will be available for replay from later today until 2 October 2007 on +44 (0) 1452 550000; Passcode 17382662#.
Misys BankFusion is the only fully J2EE-compliant banking platform in the market. It leverages the combined domain knowledge gained from over 26 years of core banking systems development within Misys and enables users to benefit from a Service-Oriented Architecture (SOA). It has been designed to help banks reduce costs, increase revenues, satisfy the regulators and most importantly, maintain competitive edge through improved business agility.
Misys Trade Portal
Misys Trade Portal is an award winning, integrated e-business solution that allows banks to provide their corporate customers with an Internet-based console to manage their international trade transactions. Built using state-of-the-art J2EE technology, the highly customer-centric trade finance solution provides banks and their clients with the online tools to manage both Letters of Credit and other traditional trade finance instruments as well as Open Account based services. Misys Trade Portal is the first and most advanced solution to receive the prestigious SWIFTNet TSU accreditation.
Misys TI Plus 2.0
Misys TI Plus 2.0 is a unique J2EE solution enabling banks to process trade finance business both efficiently and cost-effectively, thereby providing the edge banks need to stay ahead of the competition. Designed by experts in trade finance and technology, Misys TI Plus 2.0 is a revolutionary concept in trade finance automation that thinks, reacts and operates in the same way as a bank’s trade finance operation. Additionally, the factoring capability within the solution enables a bank to establish a relationship with a customer to provide enhanced trade receivables financing.
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