Misys unveils retail banking cloud platform for German market

Out of many planned localized rollouts across Europe, Misys unveiled its first one in Germany named as FinCloud, a retail banking cloud solution.

Misys today unveiled its retail banking private cloud solution for the German market, at a company event in Frankfurt. The pre-configured and localised Misys FusionBanking Essence solution delivers core and digital banking functionality on the Misys FinCloud in line with regional specificities including language, currency and regulatory frameworks. It is the first of several planned regional roll outs across Europe and Asia Pacific in the near future.

“Many banks are still in the early stages of cloud adoption but legacy IT costs, regulation and market disruption are compounding urgency to jump on board,” said Nadeem Syed, CEO at Misys. “We’re making good on our promise to bring our clients choice when it comes to deploying our software. The launch of FinCloud was the first phase and now we are localising our componentised software in the cloud to support our customers around the world, as part of our strategic roadmap.”

Misys FinCloud covers the full scope of cloud services from infrastructure and application operations to service delivery management. The local solution combines FusionBanking Essence with Misys FusionBanking Online and Mobile channel capabilities. The Misys FusionBanking Payment Manager component provides payment orchestration and messaging, all surrounded by third-party services chosen to support the local market. These cover regulatory requirements for tax, KYC, AML, statutory reporting and card management. Amongst these vendors are BSM, WebID, Wirecard and Bank-Verlag.

As part of the offering, Misys FinCloud partner and well-known German cloud service provider, Diebold Nixdorf, delivers infrastructure services out of its certified data centres in the country. This ensures security and regulatory compliance where bank customers’ financial data is required to be hosted in the country.

The German Misys FinCloud solution is a fully managed service – banks are able to focus on growth and meeting today’s customer demands rather than IT infrastructure. A real-time monitoring system ensures availability and performance and a new team on the ground in Frankfurt provides European business support in the local language.

Jost Hoppermann, Vice President, Principal Analyst, at Forrester recently reported*, “Today’s banks urgently need an option that allows them to cope with the digital disruption of their business models more quickly than in the past. They not only need to serve their customers more flexibly and more efficiently, but also to provide a great customer experience (CX) when doing so. Banking platforms in the cloud help application development and delivery professionals in banks increase their ability to continuously improve CX faster and reduce implementation risk […].”

The pre-packaged solution ensures a fast deployment, cutting time to market and the costs associated with lengthy roll-outs. Users benefit from Misys economies of scale and competitive pricing.