LONDON, September 19, 2011 /PRNewswire/ --
- Misys Survey Sees Trend to Consolidate Cash and Trade Businesses into one Transaction Banking Group Continuing at Pace
Misys plc (FTSE: MSY.L), the global application software and services company, today announced the results of its third annual Trends in Transaction Banking survey. From the responses of more than 120 respondents across 45 countries, the theme of reducing IT complexity and costs remain the dominant concerns of transaction bankers.
77% of respondents stated that they had started consolidating at least trade finance and cash management businesses to achieve this goal. At the same time, 45% describe their infrastructure as "multiple core processing systems", underlining that the industry has a long way to go before true consolidation happens.
Commenting on the results of the survey, Olivier Berthier, Global Solutions Director, Transaction Banking, Misys, states: "This is the third survey we have done in this area and each time we have seen an increase in the proportion of banks bringing their cash, trade and payments businesses under one umbrella. This trend continues across all regions and banks of all sizes. However, few have actually fully integrated their online channels, back-office operations and payments processing successfully. In both the survey and our ongoing exchanges with financial institutions, the need to reduce costs, increase the return on capital, improve customer service, and rely on technology as an enabler, all remain key Transaction Banking trends this year."
Other highlights of the survey include:
- 43% listed "online channel development" as the top transaction banking priority for next year, reflecting the trend towards enhancements of the online delivery of cash management and trade finance in a unified fashion.
- "Adding new products and services" remained the top strategic focus for banks managing their transaction and cash management business over the next three years, gathering 26% of respondents.
- 35% listed "Simplified process for making changes to payment standards and rules across all systems" as their top priority.
- 34% of those surveyed listed "Increasing IT and system complexity" as the major challenge facing their bank's transaction banking group, followed closely by 33% who see "Increasing regulation" as the major challenge.
- Demands from corporates to be able to check payment flows manifested in 25% of those surveyed stating "Real-time payment tracking" was their top priority in payments.
- "Trade services functionality" narrowly beat "Cash flow forecasting tools" in the priority list with 14% and 13%, respectively, confirming the prominent status and importance of trade finance in a bank's service offering today.
- Almost half those surveyed, 45%, describe their infrastructure as "Multiple core processing systems", echoing the growing interest in payment hubs to help banks centralise and streamline their payment processes.
A full report and analysis of the results of the survey can be obtained from the contact below.
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to financial services organisations. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
Misys is a market leader with over 1,300 customers, including all of the world's top 50 banks. Misys employs approximately 4,000 people and works with over 100 partners globally who serve customers in more than 120 countries.
We aspire to be the world's best application software and services company, delivering results for the most important industries in the world. Working with our extensive partner network, together we create compelling solutions enabling our customers to differentiate themselves and drive a competitive edge.
Misys: experience, solutions, results
Contact us today, visit: http://www.misys.com
For further information and a copy of the report please contact:
Global Head of Public Relations
+44(0)20 3320 5530
SOURCE Misys plc