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BANKING BPO
Delivering the Business Value of Workplace Solutions for Banking-
BPO-2010
Table of Contents
1. Banking Business Process Outsourcing /Banking BPO ............................................................................................................................................... 4
1.1 What should BPO be delivering in future? .............................................................................................................................................................. 5
1.2 Four General Approaches to BPO Banking .............................................................................................................................................................. 6
1.3 Don’t Ignore IT implications of BPO ......................................................................................................................................................................... 7
1.4 Move to Holistic, Global Approach to BPO ............................................................................................................................................................. 8
2. BPO Banking Business Model .................................................................................................................................................................................... 9
2.1 Organizations need to be intentional in selecting their sourcing approach model .............................................................................................. 10
2.2 Adoption of multiple sourcing is transforming the operations model of enterprises ........................................................................................... 11
2.3 Preparing For Operational Model - Key Data Component.................................................................................................................................... 12
3. BPO Banking Pricing Model...................................................................................................................................................................................... 13
3.1 What is Transaction Based Pricing? ................................................................................................................................................................... 13
3.2 Is Transaction Based Pricing Suitable for Any Business Process? .......................................................................................................................... 15
3.3 Challenges in Adopting Transaction Based Pricing ................................................................................................................................................ 17
4. Banking BPO Services & Solutions Perspective ........................................................................................................................................................ 18
4.1 Most Common BPO Banking Services ............................................................................................................................................................... 18
4.3 What you are actually buying…more Solutions in the future ................................................................................................................................ 20
4.4 Full BPO Banking Solutions Overview .................................................................................................................................................................... 21
4.5 Full BPO Service Overview ..................................................................................................................................................................................... 22
4.6 New Services in Evolution ...................................................................................................................................................................................... 23
4.7 Proposed Business Process Outsourcing Banking Services.................................................................................................................................... 24
5. Local Banking BPO Service Providers ....................................................................................................................................................................... 25
6. International Banking BPO Service Providers .......................................................................................................................................................... 29
Banking BPO Services are typically defined by industry analysts, advisors and leaders in the sourcing industry, such as the set
of discrete processes or transactional activities that support the lending lifecycle as follows:
New customer acquisition services include telemarketing activities, application processing, underwriting, customer
or merchant credit evaluation and verification, credit approval, document processing, account opening and customer
care and on-boarding.
Account servicing processes for credit cards or consumer loans. These most commonly include payment processing
systems and services, customer service or call center support operations (voice, digital, email and mail services),
product renewals, and loan disbursement; document management services such as printing and mailing of statements,
networked printing and storage solutions; collections, recoveries processing, default management, risk management and
foreclosure.
Consumer and commercial lending post origination transaction processing services, such as check processing,
clearance and settlement services, remittance, and records management.
Back office transaction process management for loans or credit card portfolios, including custody services, fraud
mitigation and detection, regulatory and program compliance, portfolio analytics, reporting, conversions, management
of technology platforms, interface for customer data and custom development.
SERVICE BENEFITS/OUTCOME
Human Minimize errors in payroll
Resources Decrease time to recruit
Finance & From 7 days to 2 days to close your books
Accounting Reduction in Day Sales Outstanding
Procurement Vendor and Consolidation management
Ability to capitalize on negotiated discounts
Customer Pay by results for sales
Management Staffing flexibility on peaks and troughs
» Transactional BPO: Transactional BPO handles one aspect of a process only. The customer has to carry out a
significant part of the process in-house and hence the customer owns the risk of the process. Also, outsourcing many
aspects of the process in a transactional mode leads to complex fragmentation which can pose as a threat to productive
delivery.
» Niche BPO: A niche BPO carries out 3-4 aspects of a process. A niche BPO, which also makes certain investments in the
customer's process, aims at improving the efficiency of the process. The vendor in a niche BPO works in close
coordination with the buyer, sometimes seeking the services of the customer's employees. Both the vendor and the
buyer share the risk of the process.
» Comprehensive BPO: A comprehensive BPO handles both transactional and administrative tasks in a process and takes
70 percent responsibility of the output. The vendor purchases the buyer's assets and also hires most of its employees.
Comprehensive BPO has bulk deals lasting for 7-10 years.
Transaction Unit - is a unit of measure with which a transaction can be objectively measured. Examples of transaction unit are
'per payslip' for payroll processing transaction, 'per invoice' for invoice processing transaction, 'per purchase order' for purchase
order processing transaction.
Transaction based pricing refers to a type of pricing where a deal is priced on the basis of number of transactions that service
provider processes for a customer. More the number of transactions processed by service provider, more is the payment and
vice versa. It is similar to the way payment is made by consumers to electricity companies - amount paid varies depending
upon consumer's usage of electricity, measured in units.
Since, in transaction based pricing, service provider is paid on the basis of number of transactions processed, it is important to
determine the mechanism by which transactions can be distinctly determined and objectively measured. This is typically
achieved via 'transaction unit'. Determining the right transaction unit, therefore, is important in transaction based pricing.
Transaction unit is usually determined by identifying the unit that best represents the underlying transaction - in terms of
operational processing and the costs related with processing that
transaction. In transaction based pricing, what and how many resources are involved and how much time is taken to process
the transaction while also meeting quality and service level agreement (SLA) requirements, are the variables that are typically
managed by service provider. This essentially means that variability and risk associated with customer's
business activity is transferred to service provider. Service provider manages this risk by utilizing resources efficiently across
multiple customers and by charging an appropriate risk premium in the transaction price. In addition, service provider is
motivated to maximize output or number of transactions processed with same or lesser input, which typically leads to
innovation and better use of technology resulting in lesser cost for customer in the ultimate analysis.
Transaction price is typically quoted as “price per transaction unit”. For example, for payroll processing, the transaction price
may be quoted as “x dollars per payslip”; or for invoice processing, the transaction price may be quoted as “y dollars per
invoice”. However, since business activity does not remain at a constant level throughout, there needs to be a mechanism
which can determine how the transaction price varies for different levels of business activity.
To address this, transaction price is generally mentioned as applicable for a specified transaction volume range. Such a volume
range is known as 'dead band' which is typically derived by analyzing historical transaction volumes data.
For variations in transaction volumes beyond the dead band, a negotiated increase or decrease in price becomes applicable.
Usually ARC/RRC (Additional Resource Charge/Reduced Resource Credit) framework is used to arrive at the price outside the
dead band. A simplified explanation of the ARC/RRC mechanism is provided with the help of an example below:
Example:
Let us assume that:
• Well Defined: Transaction should be such that both service provider and customer understand what it constitutes and what is
excluded from it.
• Measurable: Transaction should be such that it can be easily measured for operations processing and performance and is
auditable by service provider and customer for accurate and timely counting of transactions that serve as the basis for billing.
• Volume Driven: Transaction should be of short duration and carried out repeatedly in sufficiently large volumes.
• Standardized: Transaction should be amenable to high level of standardization - standard inputs, rule-based processing and
standard output - so that service provider is able to derive economies-of-scale via automation and delivery of similar services to
multiple customers.
• Demand Variability: Transactions where volumes vary in a short span of time are more suited to be priced via
transaction pricing mechanism than via any input-based mechanism.
An indicative list of business processes (with commonly used transaction units) that possess the above-mentioned
characteristics and are, therefore, amenable to transaction based pricing, is provided below:
While, there are significant benefits from transaction based pricing for customers and service providers both, there are a few
challenges, discussed below, that one needs to be aware of:
lComplexity: Designing transaction based pricing model is complex and requires a good understanding of transactions and
their cost structure by both customers and service providers - right transaction, scope, unit of measure, cost determination,
etc.
lPredicting Volumes: Predicting future transaction volumes with reasonable level of accuracy, providing minimum volume
commitment for economies-of-scale and planning for volume variations is a complicated exercise that only a few customers are
able to perform in a systematic and consistent manner.
lLack of Availability of Benchmarking Data: Lack of availability of reliable external benchmarks, in addition to unreliable
internal benchmarks, hamper customers‟ ability to ascertain commercial competitiveness of service provider quotes.
lLack of Standardization: Lack of common technology and operational business processes within customer organization limits
service providers‟ ability to achieve standardization and associated cost effectiveness.
lLoss of Control: Since day-to-day resource decisions and productivity information are not apparent to the customer, there is
a perception that transaction based pricing leads to loss of control.
lOrganization Change: Transaction based pricing leads to changes in quite a few areas like budgeting (tracking inconsistent
monthly/quarterly service cost); corporate finance (ensuring that invoices reflect accurate charges and credits); functional
departments (effecting business process change); all departments (inculcating demand forecasting practices).
Apvision Karachi CC
Axact Karachi CC AC DE
Axiom Islamabad CC DE DD
BAS Rawalpindi CC
C-3 Karachi CC
Geoconsult Karachi GC
Hauka Karachi CC MT DE CP DD LT
Mindbridge Lahore CC
Nortec Karachi CC MT DD
Islamabad
Ovex Technologies Lahore CC CP
Karachi
Sybrid Karachi CC MT DE HR CP
Lahore
Systems AC DE DD
Karachi
Teknotronics Karachi AC DE CP DD
Lahore
The Resource Group (TRG) CC AC
Karachi
TransData Lahore CC
Verticity Karachi HR
Abbreviation Key
7. Market Analysis
BPO deals mainly with non-core processes of an organization. Some of these processes are:
» Administrative support
» Customer relationship management
» Document processes
» Finance and accounting
» Human resources and training
» Intellectual property research and documentation
» Legal services
» Medical transcription
» Payroll maintenance and other transaction processing
» Product development
» Publishing
» Research and analysis
» Sales and marketing (including telemarketing
Description: Standard Chartered Bank provides personal and business banking services in Asia, Africa, the Middle East, UK, Europe
and the America - Your right partner for banking.
Description: With over 1400 domestic branches all over Pakistan and 19 overseas branches UBL is one of the largest banks in
Pakistan.
MCB Bank
Description: MCB is one of the leading banks of Pakistan with a deposit base of about Rs. 280 billion and total assets of around Rs.300
billion. The Bank has a customer base of approximately 4 million, a nationwide distribution network of over 1,000 branches and over
450 ATMs in the market.
Description: Established in Lahore in 1942 before independence, Allied Bank Limited is one of the largest bank in Pakistan with more
than 700 Branches connected to an online network. In August 2004 the Bank was restructured and the ownership was transferred to
Ibrahim Group.
Description: Habib Metropolitan Bank Pakistan is a private bank operating in all major cities of Pakistan with primary focus on retail
banking and trade finance.
Description: Bank Alfalah Limited was incorporated on June 21st, 1992 as a public limited company under the Companies Ordinance
1984. The Bank is currently operating through 195 branches in 74 cities, with the registered office at B.A.Building, I.I.Chundrigar,
Karachi.
Bank AL Habib
Description: Presently, the Bank has a network of Two Hundred And Fifty Four branches in all the major cities of Pakistan and abroad
fully automated and computerized and providing wide range of banking services.
Askari Bank
Description: Established in 1992, Askari is backed by the Pakistan Army Welfare Trust.
HBL
Description: HBL has the largest domestic branch network with over 1,400 branches and is present in 25 countries.
Description: Personal banking, wealth management, credit cards, loans, investments, insurance, NRI and commercial banking services
from RBS Pakistan.
Description: KASB Bank through its network of 73 branches in 21 major cities of Pakistan offers unique and innovative financial
solutions to a large portfolio of investment, corporate and consumer banking customers. The Bank has been assigned medium to long
term entity rating by PACRA of A (Single A) and short term rating of A1 (Single A One).
NIB Bank
Description: The 7th largest bank in Pakistan branch wise, NIB bank provides services to more than 675,000 customers through a wide
branch network of 224 branches. It is one of the fastest growing banks in Pakistan.
Description: AHBL is one of the fastest growing Commercial Banks of the country supported by the strong sponsorship of Arif Habib
Group. The Bank has an Authorized Share Capital of 6.0 Billion and Paid-up Share Capital of 5.0 Billion. The Bank has a network of
38 Branches/Sub Branches. The branch network covers Sindh, Punjab, NWFP, Balochistan and Azad Jammu and Kashmir. The Bank
plans to open further offices to better cover all four provinces within a short time span.
JS Bank Limited
Description: JS Bank Limited is a subsidiary of the JS Group, which is one of Pakistan’s most diversified and progressive financial
service groups. Presently JS Bank has laid its footprint across metropolises of Pakistan with plans to expand its outreach with more
branches nationwide this year.
Description: Opened doors for operations in Lahore on April 16,1992 followed by Karachi branch on May 09, 1992. The bank now
operates with 131 Branches spread all over Pakistan including the Northern Areas of the country where no other private bank has
ventured so far..
Silk bank
Description: Silkbank stands for reliability, our institutional sponsors Nomura, IFC and Bank Muscat provide us with strong financial
backing and a framework of good corporate governance, which will remain our guiding principle to cultivate trust and transparency
with our customers, regulators and partners.
Samba
Description: Samba Bank Limited, formerly Crescent Commercial Bank Limited is a majority owned subsidiary of Samba Financial
Group of Saudi Arabia. Our vision is to become a household name in Pakistan by winning customer business through high quality
services and innovative products.
Description: Established in 1989, in pursuance of The Bank of Punjab Act 1989 and was given the status of scheduled bank in
1994.The Bank of Punjab is working as a scheduled commercial bank with its network of 272 branches at all major business centres in
the country. The Bank provides alltypes of banking services.
Barclays Pakistan
Description: Barclays in the Pakistan offer a full range of banking services to individuals and corporations.
Description: Operating through a growing network of branches across Pakistan, the entire retail network is real-time online, providing
banking convenience, especially for those on the move.
My bank
Description: Mybank Limited was incorporated in 1992 as a Commercial bank. It operates with over 80 branches network all over
Pakistan. The Paid up Capital of the Bank is PKR 5.303 billion, Equity PKR 5.069 billion,Total Assets PKR 38.756 billion.
Citibank Pakistan
Description: Citibank Pakistan has demonstrated its ability to identify market needs and develop products which are unique in concept
and fulfill customer requirements.
Askari Bank Limited, one of the fastest growing domestic banks in Pakistan, has chosen to implement a wide
range of Oracle Solutions such as Oracle Database, Oracle Fusion Middleware and Oracle Applications
including Oracle FLEXCUBE (core banking system) Oracle Reveleus (risk management system. The project aims
to modernize its IT architecture to improve banking operations, business efficiency and customer service.
The specific modules of FLEXCUBE selected for implementation include:
♦ Core
♦ CASA
(Current, Savings and Term Deposits)
♦ Limits and Collateral Management
♦ Consumer Lending
♦ Local Payments and Collections
♦ Fixed Asset Management
♦ Retail Branch
♦ TradeFinance
(LCs & LGs)
♦ Bills and Collections
♦ Treasury:
o Money Markets
o OTC Options
o Foreign Exchange
o Securities
♦ Islamic Banking
♦ Internet and Mobile Banking
♦ FLEXCUBE XML Interface
(For interfacing with Channels likeATM,Visa,PoS etc)
Oracle is Askari Bank‟s key business partner in this significant effort. On the database side, Oracle Database Options like
Oracle Database Vault, Advanced Security, Data Masking and Audit Vault will provide data Security to address auditing &
compliance guidelines.
On the middleware layer, Oracle Fusion Middleware products like Oracle SOA Suite and Oracle Application Adapter will
enable Askari Bank to seamlessly integrate all its business applications. It will also assist the bank to reduce the time taken
to introduce new schemes or products and reduce cost of manual integration within various business functions
Other business applications to be implemented by Askari Bank include Oracle Siebel Customer Relationship Management,
PeopleSoft HRMS (for human capital management) ,Oracle E-Business Suite Financials and Oracle Maximum Availability
Architecture as well for their growing business demands.
Muslim Commercial Bank largest private bank in Pakistan and System Access, a leading global universal banking solutions
provider, are pleased to announce the signing of agreements to select SYMBOLS to run the bank's business operations. The
Bank will be implementing the full suite of the latest version of SYMBOLS Version 8. Muslim Commercial Bank will run
SYMBOLS eFinance modules to deliver personalised services to its customers over multiple delivery channels, while
SYMBOLS Enterprise Operations Center will serve as its core banking transaction processing engine.
By implementing SYMBOLS, Muslim Commercial Bank aims to raise the level of its customer service and its time to market
in new product offerings for its three core banking businesses in Corporate, Commercial and Consumer Banking - retaining
its market leadership as Pakistan's progressive Bank.
"On the technology front, we are impressed with SYMBOLS's multi-tier architecture. It gives us the scalability for future
growth - a critical consideration in meeting the real-time needs of our extensive ATM network, over 1,000 branch network
and growing online services. The adoption of Java-based technology also provides an added advantage for easy integration
of our legacy systems" says Mr. Ali Munir, Senior Executive Vice President, MCB.
SYMBOLS application architecture is centered around a customer relationship management foundation that facilitates
customer knowledge, interaction, and relationship development and better management of risk at the customer level.
Commenting on the business benefits, Mr. Ali Munir says, "The customer centric nature of SYMBOLS allows us to enjoy a
complete 360-degree view of our customers' interaction profile across the Bank, with a consistent dialogue between our
customers and the Bank across multiple service delivery points."
"Muslim Commercial Bank requires a proven, scalable system that addresses both speed-to-market for new products and
services with excellent customer service levels across the bank in real-time. SYMBOLS has again proved itself to satisfy
every aspect of technology and functionality as a true universal banking solution." comments Mr. Ramesh Nava, Senior
Vice President, Asia-Pacific Operations, System Access.
System Access will provide implementation, training and support to Muslim Commercial Bank.
MCB Bank Limited, one of the leading financial institutions in Pakistan, has deployed SunGard‟s Ambit Retail Banking and
Ambit Islamic Banking solutions across its network of over 1,100 branches.
MCB Bank uses the combination of the two solutions as the core system to support its business. The Ambit Core Banking
solution is an end-to-end, integrated retail banking platform that consolidates multiple applications and helps reduce IT
overheads. The Ambit Islamic Banking solution helps MCB Bank support a wide range of Islamic banking contracts on a
scalable, client-centric banking platform. These solutions will help the bank strengthen client relationships while increasing
operational efficiency.
Citibank Pakistan has remained one of the leading multi national banks operational in Pakistan. The nineties were the
decade of dominance for Citibank on the banking landscape of Pakistan and this trend continues. Citibank launched Credit
Cards in the Pakistani Market and still is the leading provider of this service. Citibank has primarily maintained the lead by
introducing new services to its portfolio of cards offerings.
Project Description
Si3's ECXS Payment gateway is a services offering for Virtual acquiring of VISA/MasterCard for Citibank. This initiative brought
Pakistan on the global Ecommerce map and gave the power to Pakistani businesses to transact credit cards online. Si3 offers
full services range within the electronic commerce project life-cycle, from design and implementation to operational support.
Si3's focus on end-to-end solutions, from Upstream Services includes Market Research, Feasibility Reports, and Internet
Surveys through creative Development Process to Downstream Services, helps emerging businesses to transform into e-
businesses
Habib Bank Limited (commonly referred to as „Habib Bank‟) is the largest bank in Pakistan and a thoroughly established
banking chain throughout the world. It has an extensive network of over 1425 branches in Pakistan and 55 international
branches. Technology partnership between TPS and HBL was established in 1998, when HBL decided on acquiring TPS‟
technology to fuel its self service banking motion. TPS assisted Habib Bank in integrating its distributed branch network of over
1400 branches and in rolling out its multi-vendor ATM network together with 1LINK shared switch connectivity. This laid the
basic foundation of Habib Bank‟s self service banking initiative. With TPS EFT solution, Habib Bank has maintained its
technological objective and implemented a reliable and scalable solution to manage one of Pakistan‟s highest EFT transaction
volumes, with one of the largest ATM network in Pakistan.
Challenge
_ Replace HBL‟s in-house developed distributed core banking system MOBS, with a centralized banking solution MISYS.
_ Maintain continuity of the bank‟s ebanking and existing alternate delivery channels without data duplication or corruption.
Result
_ The migration from a distributed to a centralized core banking application was performed and all the branches were migrated
successfully and smoothly in a span of 2 years.T Phoenix system gives HBL the
The Phoenix system gives HBL the flexibility to add emerging technologies, such as smartcards, to its processing platform.
Habib Bank has always been initiating innovative and exciting services for it selfservice banking customers. HBL‟s ebanking
• Authorization Interfaces
• Banking Application
• 1LINK
• 1LINK VISA
• CTL Online
Channel Services
• ATM
• Banking
• Mobile Banking
Allshare Banking Allshare Retail Bank Solution (Quaestor), Private Bank Solution (Bank/View),
Solutions e-Banking
Alnova Financial
Altamira, Alnova 'A la Carte'; Alnova Jetbank
Solutions
AutoSoft Dynamics
AutoBANKER II and AutoIBANKER
(ASD)
Bantotal by De Larrobla
Bantotal Nucleo
& Asociados (DL&A)
Canopus Software
macrobank4 core banking software, macrobank ru
Laboratory
Chordiant Chordiant
CMC Limited (TCS TC/4 Total Concept - 4 core banking | BRAINS 2000 branch system retail
Group) banking
Cobiscorp | formerly
COBIS Core Banking | COBIS UBS (universal banking solution) (Latin
Macosa SA and
American solution)
MicroBanx Systems
Computer Sciences
Hogan, CSC/IBS, Celeriti, Cams II, K3000
Corporation
Craft Silicon
Craft Silicon - Bankers Realm (BR)
ICS - International
I Computer Systems BANKS
(London) Ltd
Infopro ICBA
Infrasoft Technologies
OMNIEnterprise
(InfrasoftTech)
INTRACOM IT SERVICES
Profits
(Intrasoft)
1. What opportunities does the Cloud create for banks beyond cost
savings?
Cloud computing‟s most compelling use case for banks likely will be in the way innovative services can be created. The cloud
gives banks an opportunity to break apart their own value chain— be it credit approval or back-office fulfillment. Another
example: Banks will be able team up with other parties (such as telcos and post offices) that can provide the “last mile” to
consumers with whom t e banks have no existing relationship and who can be difficult to reach. In supporting such teaming,the
cloud can offer banks in the future an alternate growth strategy—i.e., a bank will be able to provide wholesale banking services
outside of its core geography without having to create a presence in the new region by acquiring an established brand.
Analytics redux
Analytics is a key focus for many banks at present, driven by the desire to understand risk and respond to regulatory pressures.
Increasingly, it is also seen as a way to facilitate growth, enabling banks to personalize their products, services and customer
experiences. Yet many banks still lack mature analytical capabilities, whether it‟s because they lack appropriate tools or have
difficulty sharing, integrating and storing vast amounts of data for analysis.
Cloud computing has the potential to render such shortcomings obsolete. It enables banks to churn through vast amounts of
data and decipher patterns and anomalies—not only in the past, but also projected into the future—much more quickly,
efficiently and cost-effectively. Part of this value comes from the fact that, via the cloud, banks can lease computing power as
they need it from Amazon Web Services, Microsoft or Google, or turn to vendors that have built analytics applications on these
platforms.
In fact, Visa currently is conducting a trial with Hadoop (free cloud-based software) to analyze 73 billion transactions to build
fraud models. By switching from in-house processing to Hadoop, Visa reportedly has cut the time it takes to build a fully
functional model from one month to around 13 minutes.
Accenture believes the critical issue is not so much whether cloud computing will become a fundamental technology in the next
decade, but rather how banks can profit from the promise and capabilities it offers. To increase their chances for success, bank
executives should consider the following guidelines:
• Ask hard questions and demand data-based analyses regarding cost savings from the cloud.
• Understand the condition and scope of your entire application portfolio and create a prioritized list of what should go into the
cloud and when.
• Establish a clear governance structure for cloud computing.
• Keep cloud efforts on track by giving them the focused thinking, planning and follow-up they require.
• Make sure goals, deliverables and desired benefits are well understood, and projects are well aligned with business needs.
• Provide the necessary support, from financial resources and technical talent to programs that develop the skills and share the
experiences of people engaged in cloud projects.
• When selecting cloud providers, carefully consider their financial stability, as well as their ability to improve functionality and
service levels and integrate data across different technology platforms and cloud services.
At its most basic, cloud computing can reduce IT infrastructure costs for banks significantly. But in the broader picture, cloud
computing can offer banks myriad opportunities to improve dramatically how they attract, retain and service customers and
expand the markets they serve. However, banks should not fly blindly into the cloud without properly understanding the risks
and how those risks can be navigated successfully.
In particular, banks must rely on critical facts to guide their way: where savings will come from, how investment return will be
measured, what is expected of internal teams and vendors and what specific measures will guarantee security and long-term
success. While banking may be behind other industries in its move to the cloud, those banks that embrace it and execute
effectively stand to gain lasting benefits: lower costs, greater competitive flexibility and the ability to develop innovative new
products, services and channels and deliver high performance across them all. What once seemed an ethereal concept, cloud
computing within the next three years will be the reality of how business is done. The high performers will be the ones taking
full advantage.
BankFusion is a family of software components that Misys is using to deliver a new generation of solutions for financial services.
It is underpinned by the BankFusion Platform; an application development and runtime framework that provides capabilities to
build, configure, integrate, and deploy BankFusion Solutions across multiple computing platforms using Java technologies.
following are the principal elements of the BankFusion Strategy:
Universal Banking
This is the next generation Misys core banking system that is based entirely on BankFusion technology. It is live at two
customers, and recently challenged and beat tough competition in winning a new name client at Actinver in Mexico.
Shared Developments
Misys has created a BankFusion Business Solutions library; a set of financial components shared across the Misys portfolio.
These provide a rich future roadmap for existing customers and accelerate the build out of functionality through a consolidation
of development effort
around BankFusion.
Renovation
Existing Misys solutions, starting with Equation and Midas, are being enhanced with functionality built using BankFusion.
Existing solutions will use components from theBankFusion Business Solutions library that provide them with a rich roadmap of
enhancements into the future. This been completed for Equation, and a BankFusion Midas solution is underway for delivery in
Q4 2010. Misys will build on the benefits and techniques gained from the Renovation of Misys products to offer services based
on the BankFusion Business Solutions library to Misys Partners and
customers.
Industry Platform
Misys will provide Independent Software Vendors with a platform and pre-built financial components to build solutions for the
financial services industry.