Misys Payment Portal, Misys Cash Portal, Misys Payment Manager Finastra (Misys)
Overview
Misys, best known for its core banking and treasury and capital markets (TCM) systems, has a long-standing messaging solution, Meridian Middleware. It has used this extensively as an interface layer for its different banking applications. On top of this it has built a routing solution, Message Manager, and more recently it has added what it claims is a full payments engine, Misys Payment
Manager.In June 2017, Misys was merged with D+H Corporation to form Finastra.
Strengths
• Large customer base across all applications so cross-sell opportunities for payment offerings.
• Messaging and payments solutions are based on J2EE.
• Global reach. Corporate overview
Misys has a large installed base across its core offerings. There are the IBM iSeries-based workhorses, Midas and Equation, and the lower-end Kindle-derived Bankmaster, with new name sales of these having dwindled over recent years. The company’s way forward is Bankfusion, a Java-based offering which is positioned as a full universal banking solution as well as an evolutionary ‘wrap-around’ for Midas and Equation users. On the treasury and capital markets (TCM) side, its solutions are Opics, Summit and the Sophis-derived Risque and Value systems. All of these systems are covered in-depth in IBS’s RBS and TCM Market Reports. Misys has a number of other applications, including a trade finance solution, Trade Innovation, and a front-end to this, Trade Portal. The company also has its message routing middleware offering, Meridian Middleware, which has been the main focus for its payments efforts, albeit with a number of partnerships in this space as well. And in February 2014 it acquired its online and mobile banking solutions partner, IND Group.
In addition, the size of Misys and the number of solutions
within its ranks swelled yet further in the first half of 2012 as it came together with the trade and risk management business of Thomson Reuters. This resulted in the creation of the world’s largest TCM and banking software vendor and came following months of deliberation on the future of Misys, including stated and reported interest from a spate of private equity firms, as well as a potential merger with rival
Temenos. In the end, Misys was purchased by an American private equity firm, Vista Equity Partners, and was united with the Thomson Reuters unit (dubbed Turaz just a few months earlier) under the Misys brand. The vendor has subsequently asserted Misys’ commitment to all of its products, across both TCM and banking. Misys appointed Rob Binns as its new chief financial officer (CFO) in 2016. Binns moved from HP where he was head of treasury and investor relations. He joined HP in 2007 from Mercury Interactive and has held a number of senior finance positions in the company. The CFO position at Misys had been vacant for some time since Rick Medlock’s departure in early 2015. Misys was also slated for an IPO in November 2016. However, the listing was cancelled due to poor market conditions. In March 2017, Vista Equity Partners, owner of Misys, announced that it will be buying D+H, in a deal expected to be worth around $3.6bn. The equity firm intends on merging the two firms before having another attempt at an IPO after the initial one was shelved due to market instability post the Brexit vote. Combined, the two vendors would be one of the largest banking technology companies in the world under the brandname of ‘Finastra’ with more than 10,000 employees, 9000 customers across 130 countries. In April 2017, Misys appointed Natalie Gammon as Chief Information Officer of the company. With over 20 years of experience, her most recent positions include Group CIO at FNZ and, prior to that, Global Head of IT Planning at Deutsche Bank.
Payment Systems & Suppliers Report |
www.ibsintelligence.com 205 Weaknesses
• Confusing messages and positioning for payments. • Not core area of focus, low profile. • Lack of references for full payments solution.
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