Misys Global Risk/FusionRisk


The unified Misys brand for Misys and Turaz was unveiled in mid-2012 by Misys’ CEO, Bret Bolin, who had come from Vista and briefly led Turaz. During the year, there was consolidation and streamlining of various support teams, such as sales and marketing, and the combined 60 offices in 50 countries was reduced to 53. Further consolidation of locations was planned where there were duplicate centres, such as France (which is where Kondor+ originated). The merged entity employed around 5000 people (including recurring contractors) and claimed nearly 1800 customers worldwide. Vista also contributed Nadeem Syed (as president and COO of Misys) and Alan Somerville (SVP, professional services and support). Tom Dawkins (director of strategic programmes at Misys), Lipiainen (global head of product), John Palmerio (global head of sales and marketing), Mika-John Southworth (global head of marketing) and Conor Colleary (global head of sales operations) were all ex-Thomson Reuters. Senior executives from Misys are Tom Kilroy (general counsel), Stephen Wilson (EVP and CFO), Bob Barthelmes (CIO, EVP and GM of open source solutions), Robin Crewe (CTO), Ed Ho (EVP, GM, treasury and capital markets) and Al-Noor Ramji (EVP and GM, banking). A number of these subsequently departed. The structure of the organisation was now focused


on ‘products, product strategy and direction’, said Bolin. Previously, product management was more aligned with the Treasury and Capital Markets (TCM) and Banking space. He said the structure was now lending, risk management, and core trading and treasury platforms (as three distinct areas within TCM) and trade finance and core banking (in the banking space). ‘We really want to differentiate ourselves with strong


product management, which is something that was missing before,’ said Bolin. The new structure would lend itself to more accountability and responsibility for solution sets, as well as facilitating interaction with the relevant people at a bank (risk managers, treasurers etc). This looked as though it would provide more focus and visibility for an area such as risk management, which had previously been somewhat lost and low profile within Misys. All products would be supported and it was stated that


Misys would be open to collaboration, so if a customer asked for, for example, ‘this part from Kondor and that part from


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Summit’ because it believed this was the best solution for its needs, ‘we are very open for these conversations and we will figure out how to put it together’, said Bolin. For risk management, MGR was unveiled in October 2012 and is intended to bring together all different risk management applications offered by Misys and Turaz/Thomson Reuters, with KGR at the centre. ‘It is a collaborative risk management platform, with KGR as the basis for it. We have made sure we cover every single aspect of the risk management space with MGR,’ said Bolin. The offering can be used in its entirety or by components. In its entirety, MGR was felt to be suitable for top tier institutions, such as Deutsche Bank and Lloyds. The latter already used TopOffice, Kondor+ and Summit for some niche areas, said Bolin, so a step towards MGR made sense. ‘We are in very strong conversations with the bank at present,’ he said. Misys’ own Misys Risk, developed by Sophis’ co-founder and head of R&D, Arnaud Vinciguerra, would continue to be supported at its pilot taker (now touted as ING), but MGR was clearly the way forward in this space. Misys Risk was too Misys- centric, said Bolin.


Reflecting the Thomson Reuters/Turaz nature of the


offering, head of product management for KGR was now Thierry Truche, who was from this side of the business. The new solution would align all of the vendor’s risk services that were currently used by more than 300 financial institutions, he said. The aim is to provide a single integrated risk management solution that is much more transparent and interactive for its customers. ‘We want to be sure that by concentrating our more sophisticated and industry proven components, we can bring more understanding and control of risk to our users.’ As well as KGR, he cited Almonde and TopOffice as contributors to address different risk classes. The solution’s modules cover credit, counterparty, market, liquidity, limit management, ALM and regulatory aspects. ‘We are covering all types of features and risk measures to manage global enterprise risk,’ he claimed. There was a KGR-derived design tool called the Risk Explain module as a form of dashboard, with flags and alerts. ‘We do that by providing heat maps: a way to visualise information through different sized squares with blue, red and neutral colours,’ said Truche. ‘The size of the square represents your risk measurements and where your risks are coming from, which is key for risk management’. On top of this module, Misys was adding a capability for different users to communicate and exchange information related to risk.


Risk Management Systems & Suppliers Report | www.ibsintelligence.com


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