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MISYS Modularity – the future of core banking


Misys CEO, Nadeem Syed, tells IBS Journal why he is bullish on the company’s prospects in 2017 and beyond


We think the business is worth a lot more than what the final value would have been.”


There is no pressure on Misys, Syed observed – it is in profit, has growth potential and a number of irons in the fire – so why should it rush through an IPO process it might be unsure of? The ability of Misys to “hit the pause button” on the IPO is, in Syed’s opinion, a very good indicator for how healthy the business is. “It shows that we’re not desperate. It shows a degree of confidence in our ability to continue to run our business.” Misys will always to look at the options available, but an IPO is still a long-term goal.


of the company’s modern headquarters just outside Paddington station, London. This was in the run-up to the firm’s much-feted IPO, which Misys pulled out of at the last second.


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“Suffice to say we got incredibly positive feedback [about the IPO] from the community,” Syed said. “But our concern was where the market was going.” He pointed to a narrow window of time in which the market post-Brexit went from “incredibly bullish” to “incredibly gloomy”. “The pound went from $1.33 to $1.21 in a span of seven or eight days. The entire market had become a little bit leery. If we had continued forward we would not have got the right outcome, in our eyes.


www.ibsintelligence.com © IBS Intelligence 2017 yed met with IBS Journal in the comfort


The fiscal year for the company goes from June to May, which makes it a little harder to roundup up 2016 considering it is still technically in the middle of it. It has had “a good run” over the last four or five years. The pull-back on the IPO has meant that some customers have asked questions and it has added time to a few deal cycles but there is “nothing worrying there”. Misys is still on the same trajectory and remains confident about the full year results. The direction of the industry has been affected only in part by major events, given how momentous they are. Brexit and Trump have not changed the fact that firms are looking at regulation, cost, digitalisation and the implementation of systems. The calendar year 2017, affirmed the Misys CEO, will be as good – if not better – than 2016 barring any massive geopolitical issue that cannot be controlled.


Yet, in terms of trends and the emergence of new technology, Syed believes that not much will change.


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