Piraeus Licenses Misys BankFusion Equation to Deliver Products
- Faster Than its Competition and to Strengthen Expansion Plans
Misys plc (LSE: MSY), the global application software and servicescompany, today announces that Piraeus Bank, the Athens-based universal bank,has licensed Misys BankFusion Equation as the technology platform to underpinits expansion plans.
Misys Equation has added value to Piraeus Bank's operations for manyyears across its domestic and selected international branches, using Equationto run the bank's operations across 343 branches in Greece and 220 branchesin three of its international subsidiaries. Piraeus went live with Equation3.9 in its Albanian operations in 2008 and Romanian business in 2009. Theimplementations were an important part of the bank's growth strategy and hashelped Piraeus to continue to achieve its business ambitions, as it continuesto expand in South-Eastern Europe and the Eastern Mediterranean markets. Itsfuture growth objectives in its domestic and international operations will beaccelerated by BankFusion Equation.
In this latest release of the solution, Equation has been re-architectedinto an SOA environment using Misys' revolutionary BankFusion(TM) platform.Misys BankFusion Equation delivers Java (J2EE) re-usable components toPiraeus and gives it improved security and risk management capabilities andthe flexibility to scale the business rapidly. BankFusion Equationautomatically generates the system's Java code, significantly reducing manualinput and errors and accelerating solution modifications.
"It is imperative that we move faster than our competition," states JanisDelis, DGM - Operations Technology and Organisation, Piraeus Bank. "Ourinvestment in Misys and its BankFusion Equation solution is critical in ourdesire to maintain our competitive edge as we continue to expand and to beagile and innovative for our customers. The revolutionary technology inBankFusion Equation will allow us to launch innovative new products andservices quickly that would normally take months of development with othercore banking systems and seamlessly integrate best of breed solutions. Welook forward to continuing to receive the support we have received over thefruitful relationship we have had with Misys, and to strengthening ourposition in retail banking and enterprise financing still further."
Guy Warren, EVP and General Manager, Banking, Misys states, "Themanagement team at Piraeus has chosen to invest in Misys, our BankFusionstrategy and the future roadmap of the solution. This will give them a uniqueability to tailor their business processes to the exact requirements of theorganisation, without having to replace the existing underlying technology,and enable them to stay ahead of the competition."
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutionsthat deliver significant results to organisations in the financial servicesand healthcare industries. We maximise value for our customers by combiningour deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, withover 1,200 customers, including all of the world's top 50 banks. Inhealthcare, Misys plc owns a controlling stake in NASDAQ-listedAllscripts-Misys Healthcare Solutions, Inc, a clear leader in the provisionof healthcare technology, serving more than 150,000 physicians, 700 hospitalsand nearly 7,000 post-acute and homecare organisations. Misys employs around6,000 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and servicescompany, delivering results for the most important industries in the world.Misys: experience, solutions, results Contact us today, visit: http://www.misys.com For further information please contact Edward Taylor Global Head of Public Relations Misys Solutions for Banking and Treasury & Capital Markets +44(0)20-3320-5530 email@example.com Sebastian Mathews Financial Dynamics +44(0)207-269-7158 firstname.lastname@example.org
SOURCE Misys plc
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