Misys revenue up more than 40 per cent in China due to market demand
London/Beijing, 18 October 2006 - Misys Banking Systems (Misys), a global leader in banking software and solutions, announces today that its revenue in China has grown by over 40 per cent during the 2005/06 financial year. A steady rise in demand for its market-leading products and solutions has resulted in the doubling in size of Misys local Treasury and Capital Markets team.
From its new base in The Executive Centre of the China Resources Building in Beijing, the team of full-time project managers, business, technical and help-desk consultants and sales personnel will provide sales, operations and support services throughout the PRC.
Murray Sargant, managing director, Treasury & Capital Markets Asia, Misys Banking Systems, explains that since deregulation, the derivatives market in China has evolved rapidly with demand growing for increasingly sophisticated products.
"As the local market becomes more and more attractive to investors, we have seen a sharp rise in demand for our specialist treasury and capital markets solutions, particularly Misys Summit, Misys Opics and Misys Opics Plus. These products enable banks to generate significant profits by becoming involved in more complex trading. There is huge growth potential in areas such as FX, credit derivatives and structured products trading."
Murray Sargant continues, "We are delighted to have many key Chinese banks as our clients and we are well positioned to increase our presence and expand our existing relationships across China. With our wealth of experience, established track record and commitment to research and development, we are confident that our footprint in China will continue to grow. We are committed to China for the long term and expect to further increase our local teams as our customer base continues to expand."
In line with global trends, the banking software market in China is buoyant and banks are seeking well-established technology players that can facilitate their future growth.
"Working with top level banks and institutions in China, we have seen significant advances in this sector and we expect it to continue as banks grow and mature their operations. Throughout the industry, technology is playing a significant role in providing a scalable platform for continued expansion and enabling banks to meet international regulatory and compliance standards."
Misys has invested heavily in China and Hong Kong over the last 25 years and is closely involved with a wide range of financial institutions across Greater China.
Murray Sargant adds, "Our customers include the top five banks and more than ten key global, state, regional and local operations. Using our proven core banking and treasury & capital markets solutions, these organisations can take advantage of new market sectors and closely monitor operational risk and adherence to regulations. Misys delivers real value by increasing productivity and efficiency using straight-through-processing and front to back systems."
For further information, please contact:
Deborah Choong
Regional marketing manager
Misys Banking Systems
+852 2230 2302
deborah.choong@misys.com
Regional marketing manager
Misys Banking Systems
+852 2230 2302
deborah.choong@misys.com
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in more than 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,500 people around the world and sales, implementation and customer support teams in nearly 30 countries. One third of the world's commercial loans, half of traded loan volumes and one in every eight global FX transactions are conducted using Misys systems. Misys invests heavily in research and development and is one of the top industry spenders, investing nearly ten per cent of total revenue per annum. Misys Banking Systems is part of Misys plc.
Misys Banking Systems supplies over 1,200 customers in more than 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,500 people around the world and sales, implementation and customer support teams in nearly 30 countries. One third of the world's commercial loans, half of traded loan volumes and one in every eight global FX transactions are conducted using Misys systems. Misys invests heavily in research and development and is one of the top industry spenders, investing nearly ten per cent of total revenue per annum. Misys Banking Systems is part of Misys plc.
About Misys plcMisys plc (FTSE: MSY.L), the global software company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com
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