Misys and IBM join forces to deliver service-oriented banking solutions

Published on 15-Sep-2008

"This OEM agreement between IBM and Misys is an important part of the alliance between our two companies, and should help to deliver innovative products and services to the banking industry across all major world markets. By leveraging IBM DB2, InfoSphere and WebSphere technologies, Misys has a compelling proposition to offer its customers – faster implementation, closer integration, lower costs and better service." - Guy Warren, EVP and General Manager of Misys Banking

Customer:
Misys

Industry:
Banking, Financial Markets

Deployment country:
United Kingdom

Solution:
Business Integration, Enabling Business Flexibility, Leveraging Information, Optimizing IT

IBM Business Partner:
Misys

Overview

Misys is one of the world’s largest and longest-established financial software specialists, with more than 30 years’ presence in the banking sector. Headquartered in the UK and listed on the FTSE250, the company has 36 offices around the world, and customers in more than 120 countries. Some 1,200 financial institutions benefit from Misys solutions – including every one of the world’s top 50 banks. The company employs 4,500 people, and generates annual revenues of around one billion US dollars.

Business need:
Misys wanted to make its banking software quicker and easier to implement by offering pre-integrated solutions with databases and Java application servers built in. By standardizing its middleware platforms and optimizing its applications, Misys also aimed to improve performance and reliability.

Solution:
A new OEM agreement with IBM is enabling Misys to sell IBM WebSphere Application Server, IBM DB2 and IBM InfoSphere Global Name Recognition as part of its own solutions. A version of Misys Message Manager with built-in DB2 and WebSphere components is already on sale; in the coming months, Misys Trade Innovation Plus and Misys BankFusion will also be available in pre-integrated versions.

Benefits:
Pre-integration helps to minimize the need for custom integration work – saving time and money, and helping customers bring the Misys software into production more rapidly. The new alliance between Misys and IBM enables both companies to benefit from cooperation in research and development, and strengthens their position in the global banking sector.

Case Study

Misys is one of the world’s largest and longest-established financial software specialists, with more than 30 years’ presence in the banking sector. Headquartered in the UK and listed on the FTSE250, the company has 36 offices around the world, and customers in more than 120 countries. Some 1,200 financial institutions benefit from Misys solutions – including every one of the world’s top 50 banks. The company employs 4,500 people, and generates annual revenues of around one billion US dollars.

Misys has always recognised the importance of flexibility, and has developed its software to ensure compatibility with a wide range of operating systems and database platforms. When a customer decides to implement a new Misys product, their existing middleware infrastructure is analysed, and the software is customized and optimized for the unique environment.

“The versatility of our software is such that it can run on a wide variety of combinations of middleware platforms,” explains Guy Warren, EVP and General Manager of Misys Banking. “But some of our customers made it clear that their priority wasn’t to integrate our software with their existing environment – they wanted an end-to-end solution that could be deployed quickly.

“For these customers, we decided to find a standard middleware platform that we could pre-integrate with our software – enabling accelerated, low-cost implementations and providing excellent performance and reliability.”

Choosing the best partner: IBM

Misys evaluated the offerings of various major middleware vendors, and decided to enter negotiations for an original equipment manufacturer (OEM) agreement with IBM.

“We have always been impressed with the quality of IBM middleware, particularly in terms of database and application server technologies,” explains Guy Warren. “We also recognised that IBM was one of the few major vendors that could match our global reach and would be able to support our work in emerging markets.”

The agreement was signed in May 2008, and Misys has already started selling a version of its Message Manager software pre-integrated with IBM WebSphere Application Server and IBM WebSphere MQ.

“Misys Message Manager is designed to streamline financial messaging by moving away from a host of point-to-point interfaces and introducing a single central messaging hub that supports all international messaging standards. This approach helps to increase performance and reduce maintenance costs, and is significant step for clients towards achieving a service-oriented architecture [SOA].

“IBM WebSphere software is an ideal foundation for such an architecture, supporting the standards-based, componentized approach that is at the heart of the SOA concept.”

Launching new products

Misys will soon be launching a version of its trade finance package, Misys TI Plus, together with WebSphere Application Server and IBM DB2.

“Trade finance is a real growth area, and many banks are on the look-out for a platform to help them account for their and their customers’ trades,” says Guy Warren. “The IBM software gives Misys the ability to provide a pre-integrated solution that can be installed, configured and put into production rapidly – which should help us steal a march on the competition.”

Offering pre-integrated solutions

Misys is even more excited about its newest product – Misys BankFusion Universal Banking, a component-based core banking solution that provides a full range of retail, corporate and treasury services.

“A lot of banks are currently looking to replace their legacy systems with a new architecture. In response to this demand, many software companies are claiming to be able to implement open standards-based SOA solutions,” comments Guy Warren. “In reality though, these solutions often just involve sticking a Java front-end on the existing applications.

“Misys BankFusion Universal Banking is quite the opposite. As well as being a fully SOA-based solution with all the standard banking functionalities, it also provides a flexible development engine that banks can use to capture new processes and create new products. BankFusion Universal Banking works somewhat like a manufacturer using a configurator to create products to order for its customers – reducing the need for low-level development work and greatly increasing the speed of deployment. This can be a key advantage in terms of getting to market ahead of the competition, or reacting fast to changing situations.”

Again, since Misys BankFusion Universal Banking will often be deployed as an entirely new environment, it makes sense for Misys to be able to offer a pre-integrated version that can be deployed rapidly. With DB2 and WebSphere Application Server, BankFusion has an enterprise-class middleware foundation that can scale to meet the needs of almost any customer.

Creating compelling propositions

Misys will also be selling other IBM software as part of the OEM agreement, including IBM InfoSphere Global Name Recognition, a solution that scans and matches customer name data to help banks improve service quality and implement effective anti money laundering policies.

Guy Warren concludes: “This OEM agreement between IBM and Misys is an important part of the alliance between our two companies, and should help to deliver innovative products and services to the banking industry across all major world markets. By leveraging IBM DB2, InfoSphere and WebSphere technologies, Misys has a compelling proposition to offer its customers – faster implementation, closer integration, lower costs and better service.”

Products and services used

IBM products and services that were used in this case study.

Software:
DB2 Enterprise Server Edition, WebSphere Application Server, InfoSphere Global Name Recognition

Legal Information

IBM United Kingdom Limited PO Box 41 North Harbour Portsmouth Hampshire PO6 3AU The IBM home page can be found at ibm.com IBM, the IBM logo, ibm.com, DB2, InfoSphere, and WebSphere are trademarks or registered trademarks of International Business Machines Corporation in the United States, other countries, or both. If these and other IBM trademarked terms are marked on their first occurrence in this information with a trademark symbol (® or ™), these symbols indicate U.S. registered or common law trademarks owned by IBM at the time this information was published. Such trademarks may also be registered or common law trademarks in other countries. A current list of other IBM trademarks is available on the Web at http://www.ibm.com/legal/copytrade.shtml Other company, product or service names may be trademarks, or service marks of others. Misys Message Manager, Misys TI Plus and Misys BankFusion Universal Banking are products of Misys. IBM and Misys are separate companies and each is responsible for its own products. Neither IBM nor Misys makes any warranties, express or implied, concerning the other’s products. References in this publication to IBM products, programs or services do not imply that IBM intends to make these available in all countries in which IBM operates. Any reference to an IBM product, program or service is not intended to imply that only IBM’s product, program or service may be used. Any functionally equivalent product, program or service may be used instead. All customer examples cited represent how some customers have used IBM products and the results they may have achieved. Actual environmental costs and performance characteristics will vary depending on individual customer configurations and conditions. IBM hardware products are manufactured from new parts, or new and used parts. In some cases, the hardware product may not be new and may have been previously installed. Regardless, IBM warranty terms apply. This publication is for general guidance only. Photographs may show design models. © Copyright IBM Corp. 2008. All rights reserved.