- Misys Treasury & Capital Markets announces new 'Software as a Service' (SaaS) strategy at SIFMA Technology Management Conference & Exhibition offering its leading solutions on hosted platforms
- Analyst house, Aite Group, recognises value in outsourcing management applications as SaaS solutions
19 June 2007 - Banks and hedge funds will be able to access new hosted solutions for derivatives processing, treasury operations and loan syndication following the launch today of new 'Software as a Service' (SaaS) programme by Misys, the global software and solutions company.
Misys' SaaS programme will see hosted services as a deployment option across Misys' Treasury & Capital Markets solution suite - Misys Summit, Opics Plus and Loan IQ. The news coincides with the start of SIFMA's annual Technology Management Conference & Exhibition, where SaaS is a central theme.
The solutions will enable many larger banks to remove the capital expense associated with software and hardware, and dramatically reduce the IT resources necessary to operate mission critical capital markets systems. Other benefits will include speeding up time to enter new markets for hedge funds, investment companies and banking institutions, while the risk of testing new market operations for banks will also be lowered.
Misys Treasury & Capital Markets has already seen significant success in this area. Misys Summit ASP - the company's first multi-asset class system on a hosted platform for hedge funds, smaller banks and corporate treasury departments has been available exclusively in Europe since 2001. It currently handles trading, portfolio analytics and risk management, for 15 financial institutions in the region. Misys also boasts a market-leading hosted confirmation matching service for corporates and banks - Misys Treasury Plus.
"Financial institutions want proven deployment records," comments Steve Victore, MD Americas, Misys Treasury & Capital Markets. "Through developing repeatable implementations in Europe we've acquired best practices for rapid deployment of tailored solutions in this area."
SaaS is a central theme at SIFMA's annual Technology Management Exhibition & Conference, held at the Hilton Hotel in New York between 19th-21st July, and is widely recognised as an area of technology advance that is transforming many financial businesses.
"The industry is focused on achieving operational efficiencies and scalability in core applications. Once you get past the internal politics of ownership, outsourcing the management of enterprise applications makes sense. You don't have the upgrade headaches, hardware management issues, and it is a lot easier to hold a vendor accountable to an SLA than your own staff," says Adam D. Honoré, Senior Analyst with Aite Group. "SaaS mirrors the governance practices many firms are adopting whereby the people closest to the source manage the business process. Who better to manage the software than the people who wrote it?"
The SaaS version of Misys Loan IQ is available now, while hosted services for Misys Summit and Opics Plus will be available alongside Misys' existing non-hosted solutions in the Americas later this year with plans to roll out the solutions to European and Asian markets in 2008.
Misys has over 17 years of Treasury & Capital Markets experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.
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Misys solutions can be viewed at stand 2015 at the 2007 SIFMA Technology Management Conference & Exhibition at The Hilton, New York. For further information or to request an interview with a Misys spokesperson, please contact:
Stephen White
Misys Treasury & Capital Markets
t. +44 (0) 207 757 6134
stephen.white@misys.com
Adam Barber
Financial Dynamics
t. +44 (0)20 7269 7181
adam.barber@fd.com
About Misys plc
Misys plc (FTSE: MSY.L), the global software and solutions 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 and treasury & capital markets Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare Misys is also a leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Misys employs around 5,500 people who serve customers in more than 120 countries. For more information, visit: www.misys.com
