Misys, the application software and services company, launches Misys Quick Start – a new rapid delivery initiative to provide pre-packaged application to help banks reduce the cost and length of new implementations of Misys capital markets trading platforms. The first Misys solution to be brought to market within the initiative is Misys Opics Plus Quick Start, an end to end treasury processing application.
The change in the financial services sector over the last 12 months has caused shifts in the needs of organisations. As a result of the financial crisis, there have been large volume increases in treasury products coupled with extreme volatility in interest rates. At the same time, there has been growing interest in FX, money markets (MM) and fixed income products by corporate customers of banks and firms are looking to rationalise and streamline their operations in a climate of increasingly stringent regulation.
These trends are adding pressure to monitor exposure to foreign exchange (FX) and interest rates, improve services to customers, and deliver great controls and transparency. Ultimately, this is driving demand for out-of-the-box applications to support their business at an affordable price that includes implementation.
Misys Quick Start applications will utilise Misys’ new ‘Rapid Implementation Methodology’ to deliver pre-packaged applications consisting of bundled modules and functionality, standardised services and implementations, accelerated implementation processes and reduced time to market for new products and services.
The first pre-packaged application to be brought to market within this initiative, Misys Opics Plus Quick Start, is specifically designed for regional and local banks globally and also banks in emerging economies that are looking to quickly move into the treasury management market. Offering a range of benefits, it will give firms the ability to effectively manage entire treasury operations, adopt more sophisticated risk management techniques, and process high volumes of treasury trades. Importantly, Misys Opics Plus Quick Start promised a reduced risk, cost and length of implementation.
“Some smaller institutions are going to struggle with a traditional spreadsheet approach to information management when it comes to handling the large growth in volume in FX instruments,” says Stephen Bruel, analyst at TowerGroup. “As a result, there is a growing desire to quickly implement systems that can handle the growth in this area and help manage a mix of assets classes with greater transparency across business lines.”
“This strategy is being driven by a demand from banks for solutions which reduce both cost and implementation risk,” says Charles Smith, vice president, solutions management for Misys. “Where many of our competitors have released fast track products to improve the chances their customers will get a fully live solution, we already have a proven track record when it comes to completing implementation projects, so our strategy is about helping financial institution customers in this tough period to get the enabling technology they need to boost risk management, compliance and transaction efficiency from the front office to the back office.”
Misys Solutions for Treasury & Capital Markets has 18 years of experience and unrivalled software development expertise. It creates integrated, comprehensive applications for financial institutions to manage their capital market activities across multiple asset classes.
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