Financial services vendor Misys announced that is has completed its acquisition of IND Group, a leading innovator in online and mobile banking solutions for an undisclosed sum. The acquisition adds world-class consumer-oriented solutions to Misys’ leading core banking capabilities, delivering the broadest retail banking solution in the market.
Misys, which specializes in core banking solutions, said the acquisition will now add digital retail banking solutions to its portfolio. The acquisition builds on an already-existing partnership which Misys signed with IND in March 2013 and will augment future investment in the combined offering, the company said. IND's suite of pre-integrated solutions is now available to all Misys bank clients, including Misys’ 500-plus core banking customers, which the company says will equip them to deliver an omni-channel experience to consumers.
IND was founded in 1997 and has more than 30 bank clients around the world, including Alior, Erste Bank, and UBS, supported by over 200 employees based from eight offices. It provides online and mobile banking, personal finance management and payments solutions.
“This is very exciting for us and our customers. The market for digital banking is exploding. More than half a billion people already use mobile devices for personal banking and this is set to double in the next four years. This deal reinforces our digital banking proposition in this rapidly expanding area by adding world-class consumer-oriented solutions to our offering” - said Nadeem Syed, CEO of Misys.
IND brings to Misys a wealth of technical expertise, innovation and a passion for changing the way in which banks interact with customers. Customers now have a suite of pre-integrated solutions which deliver an omni-channel experience to consumers. By leveraging greater customer insight across both branch and online interactions banks can now transform their digital channels into a customer engagement and sales business, giving more opportunities for revenue generation.
Misys will leverage technology from both organisations to create genuinely omni-channel customer journeys across branch and digital channels. Banks will be able to understand their customers better, deliver targeted marketing and drive revenue.
