2nd February 2006 - London and Frankfurt - Misys Banking Systems today announced that Honda Bank GmbH Germany has chosen its core banking system, Misys Equation, to help it enter the German savings and deposits market. Honda Bank, which will enhance its product portfolio later this year, conducted an extensive evaluation process before deciding that the banking system from Misys was the best solution available.
Honda, in common with most of the other great car companies has seen extraordinary growth in demand for consumer finance over recent years. To maximise the support for Honda’s sales activities, the company elected to apply for a banking licence in Germany and set up a full suite of consumer and dealer financial services. Honda Bank will benefit from the experience that Misys Banking Systems has built with more than 35 customers already in the German market. This gives Honda Bank the necessary reassurance for its investment and the ability to extend its offering to customers.
Hubert W. Benger, Chief Representative and member of the Management Board of Honda Bank, explains: “We spent a long time evaluating all possible solutions, and what was key for us was that any partner needed to understand the market we operate in and be able to demonstrate that its product complied with German banking regulations. The solution Misys put forward convinced us that they understood these pressures and that they were best equipped to deal with them.
Honda Bank cited Misys Banking Systems extensive project experience, stemming from the many core banking implementations it has undertaken in Germany, as key to the success of the deal. Critical also was its understanding of both German and International banking requirements (e.g. HGB, US-GAAP and IAS accounting).
Claus Schünemann, retail banking area manager for Western Europe, Misys Banking Systems , says: “We are delighted that Honda Bank has put its trust in us as we have made significant investment in the development of Misys Equation in Germany. As a retail banking customer with a strong focus on innovation, Honda Bank’s recognition of this investment is yet another endorsement from the banking industry”.
Misys Banking Systems German office is located in Frankfurt at the heart of Germany’s financial centre.
For further information, please contact:
+44 (0)208 486 1661
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries. Misys Banking Systems is part of Misys plc.
About Misys plc
Misys plc (FTSE: MSY), the global software company, is one of the world’s largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers’ markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world’s top 50 banks. In healthcare Misys is also a market leader, serving more than 92,000 physicians in 18,000 practice locations, 1,250 hospitals and 600 home care providers. In UK general insurance Misys is the market leader in software solutions. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to about 7,800 financial advisers in the UK. Misys employs over 6,500 people who serve customers in more than 120 countries. For more information, visit www.misys.com
Misys. Making things that really matter, work better
About Honda
Since its establishment in 1948, Honda Motor Co., Ltd. has grown to become the world's largest motorcycle manufacturer and one of the leading automakers. With a global network of over 400 subsidiaries and more than 137,000 employees Honda develops, manufactures, and markets a wide variety of products ranging from small general-purpose engines and scooters to specialty sports cars.
For more information see www.honda.com
About Honda Bank
Honda Bank GmbH in Germany is a fully owned company of the Honda group. It forms a part of Honda’s Financial Services business which supports Honda sales activities by providing financial services to both Honda customers and dealers. Honda Financial Services companies are present in five countries and employ over 1,700 people worldwide.
From the start of its business in 1998, Honda Bank Germany has continuously enlarged its product portfolio with various lending plans for the purchase of Honda products. Honda Bank is located in Frankfurt and employs ca. 50 people.
For more information visit www.hondabank.de
