Head office: One Kingdom Street, Paddington, London, W2 6BL, UK Tel: +44 (0) 20 3320 5000 Online contact form: www.misys.com/contact-us/ Other offices: Australia, Bahrain, Brazil, Canada, China, France, Germany, Hong Kong, India (Bangalore), Indonesia, Ireland, Italy (Milan), Japan, Kenya, Luxembourg, Malaysia, Mexico, Netherlands (Utrecht), Philippines, Poland, Portugal, Romania, Russia, Singapore, South Africa, South Korea, Spain, Sweden, Taiwan, Thailand, UAE, US (2) Website: www.misys.com Twitter: @MisysFS Contact: Edward Taylor, Global Head of PR Founded: Misys was founded in 1979 Ownership: Misys is owned by venture capital company, Vista Equity Partners Number of staff: 4000+


2014 2017


It appears that Vista is looking to sell some or all of Misys. Vista equity Partners acquired D+H Corporation and merged with Misys to form Finastra Early offerings


Misys, in its previous Midas-Kapiti International (MKI) form, had a risk offering called Global Manager/Risk Vision (GM/ RV). Global Manager was essentially a data warehouse for risk management; the Risk Vision element handled credit limits and position keeping, with real-time links from Global Manager to dealers’ desks. Prior to this, there was also a credit limit system derived from ACT (one of the component parts of MKI). This product, Limits, was old technology (DEC VMS) and ACT failed with a rewrite of it.


Risk Vision had been launched in the early 1990s. There


had only ever been a relatively small number of takers. Abbey National Treasury Services, which also had Summit, was one of these, going live with GM/RV in April 2000. Other takers included BayernLB, Dekabank and Commerzbank in Germany and Zürcher Kantonalbank in Switzerland.


In 2006, Misys had actually decided to give up on Risk Vision as a commercial product. Indeed, there were discussions with a couple of potential buyers of the business, but nothing came of these. The explanation was that banks had ‘regularly deferred’ investing in enterprise risk solutions due to the need to address short-term compliance requirements. However, following the arrival of new CEO, Mike Lawrie, in November 2006, there was a promise to reevaluate such decisions. Misys sought to revive Risk Vision, putting in place a


roadmap and also looking at how it could be leveraged to add functionality for other relevant systems within the group. Much of the focus around this time had been on upgrading existing customers, with Commerzbank the latest to do so. While there had been no new sales over the previous few years, kick-starting these was now the intention (although it was subsequently difficult to see any progress from this perspective).


90 Risk Vision was now placed into the Treasury and Capital


Markets (TCM) unit, alongside Opics, Summit and Loan IQ. Risk director, David Stewart, said: ‘The current management team recognises that risk compliance is something that everyone is talking about, whether at a desktop and/or enterprise level. There is good recognition that this is an area that we can’t step out from.’ There had continued to be customer-driven developments for Risk Vision, he said, but Misys was now planning to do strategic work, which included enhancements in the coverage for commodities and managing and reporting on extreme events. There was also a push to bring customers onto latest releases. Misys was claiming 18 customers on maintenance contracts at this time, with a mix of releases and technology.


The other major part of the plan was to use Risk Vision expertise, resources and possibly code to enhance Misys TCM’s other products constituting a ‘smarter way’ to add to Opics and Summit in particular. ‘To a degree, they all need some risk functionality,’ said Stewart. ‘We have identified a couple of areas and done the evaluation.’ Both Opics and Summit needed more credit risk and limit management support, he said.


Misys’ Risk Vision team at this point (2008) stood at 28


staff. By way of contrast, at one time the team for Risk Vision was much larger and included more than 100 developers in India.


Commerzbank signed to upgrade around 18 months


earlier and had now cut over with Release 5.4. It had been a Risk Vision user since 1999 and, reflecting the size of some installations, had more than 900 employees using the system to analyse local and global exposure to credit risk across the business. Most users were in the trading areas in Frankfurt, London, New York, Tokyo and Singapore. The new release had brought faster response times, additional risk mitigation


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