Misys Banking Systems survey finds that almost half of banks have not started on a SEPA project yet

9th October 2006 - Misys Banking Systems, a global leader in banking software and solutions, announces today the results of its latest survey of plans and attitudes within banks around financial messaging and payments.

The main findings include:

• Nearly half (46%) saw barriers to using SWIFTSolutions in the future including other priorities, such as STEP2, Target2 and other regulations. (A third of respondents are currently focusing on Target2).
• Two-thirds (66%) would not consider outsourcing payments processing. 
• 82% are planning to invest further in messaging infrastructure to improve STP.
• 54% of the respondents have a SEPA project in place. 
• The majority (92%) of the banks surveyed expected their SWIFT usage to increase in the future.

The survey, which follows on from a similar one in August 2005, reveals a decrease in the take-up of SWIFTSolutions. When asked for the obstructions to adapting new SWIFTSolutions, 46% of respondents admitted that regulatory pressures, such as STEP2 and Target2 have shifted their focus.  This coincides with the increase in awareness of SEPA and the regulatory changes in the payments world.

More banks this year identified SEPA as a catalyst for transforming their internal infrastructure for messaging processing to cope with SWIFTNet services and standards. Additionally, the survey found that almost two-thirds of respondents stated that they would not consider outsourcing payments processing, while a greater number of them have plans to invest in their messaging infrastructure.

Barry Kislingbury, global product manager, financial messaging, Misys Banking Systems comments, "While the respondents understand the critical role that messaging infrastructure has within their business, the majority of them are not fully aware of how they can leverage it to realise the full potential of SEPA.  A large number of banks are putting off planning their activities around SEPA until they understand the implications better.  We have found that while banks are aware that SEPA will affect them, the detail required to implement the requirements does not yet exist, so plans cannot be finalised.  The first deadline of January 2008 is getting nearer and banks need to have their payments infrastructure ready in time."

The survey, which canvassed opinions from 136 banks across the world, was conducted in August 2006 by Misys Banking Systems in the fifth successive year of achieving SWIFTReady Gold accreditation. 

- Ends -

For further information, please contact:

Caroline Parker      Edward Taylor
Financial Dynamics    Global Head of Public Relations,  Misys Banking Systems
+44 (0) 207 269 7295    +44 (0) 777 55 66 561
caroline.parker@fd.com  edward.taylor@misys.com 

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 2,500 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.L), 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 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com

Misys. Making things that really matter, work better.