London/Brussels, 16^th November 2004 –Misys Wholesale Banking Systems (Misys) is pleased to announce today that Misys and FRS, a global leader in regulatory reporting and financial analytics solutions and a business unit of S1 Corporation (NASDAQ: SONE), have signed a strategic agreement which provides Misys with the rights to sell and distribute FRS regulatory reporting products on a worldwide basis.  This follows the announcement earlier this year of the agreement between Misys and S1 Corporation (S1) for Misys to distribute and implement S1’s Enterprise retail, cash management and trade finance solutions throughout Europe, Africa, Middle East and Asia.

The new offering created by the agreement will be significant for banks currently embarking on globalisation initiatives, particularly Misys customers that are implementing MidasPlus with Global Processing.  These banks are highly aware that regulatory reporting differs between the countries in which they operate and require the support of a solution that can provide consistent regulatory reporting functionality across their global operations. FRS FinancialAnalytics currently supports the specific regulatory reporting requirements of 25 countries worldwide, with additional countries planned into 2005.

 

Under the terms of the agreement, FRS will become Misys’ preferred strategic global partner for regulatory reporting and financial analytics applications. Misys will extend the capabilities of its core banking solution, MidasPlus, to provide customers with a complete pre-packaged and fully integrated global regulatory reporting solution. The FRS existing portfolio of products, FRS FinancialAnalytics and FRS Regulatory Reporting, will be integrated with MidasPlus and offered to customers under the Misys brand as a centralised and consolidated global database from which all country reports can be delivered.

 

While global regulatory reporting will form the core of the partnership, single branch site and regional bank requirements will also be addressed, with the ultimate goal of making the combined offering the standard across all MidasPlus implementations.

 

Roger Hedges, Head of Products for International and Regional Banking Markets at Misys Wholesale Banking Systems, comments: “Regulatory reporting is one of the greatest and most difficult challenges faced by our customers, and by the banking industry as a whole. The agreement with FRS, which strengthens our existing partnership with S1, means that we are able to offer customers a global reporting solution that is complete and up-to-date with changes in regulatory reporting standards around the world, thereby reducing significant operational overheads.”

 

Alain Tayenne, General Manager at FRS, said; “This strategic relationship with Misys enables us to offer global banks a single, integrated, cost-effective and standardised solution that will allow them to centralise and consolidate their worldwide operations for regulatory compliance.”

 

Andy Coulter

Head of Marketing & Business Planning

Misys Wholesale Banking Systems

+44 208 897 1188

 

 

Emma Connolly

Marketing Communication Manager

FRS

+32 2 2004410

Misys Wholesale Banking Systems is a trusted provider of innovative technology solutions: over 1,000 employees in 30 offices around the world have built up the domain expertise to deliver world-class solutions with an understanding of local requirements. Misys Wholesale Banking Systems' staff are committed to developing and supporting a product family that embraces trade services, international & regional banking, managed treasury services, capital markets, confirmation matching, continuous linked settlement (CLS), multi-channel banking, commercial lending, FX trading, cash management and financial messaging.

Misys Wholesale Banking Systems is part of Misys plc’s Banking & Securities Division, which serves over 1,200 customers across more than 120 countries worldwide, including 90% of the world's top 50 banks (Source: The Banker, July 2004).

Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries. Through a wholly owned subsidiary, Sesame, it also provides business process outsourcing services to independent financial advisors (IFAs) in the UK. Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs more than 6,100 people internationally. For more information, visit www.misys.com

 

 

FRS provides financial institutions worldwide with a suite of optimised regulatory reporting, financial intelligence and analytic solutions sharing a consistent global data foundation to allow stakeholders across the extended enterprise to increase management control, reduce costs and gain timely business insight. FRS, a business unit of S1 Corporation, brings years of industry expertise providing regulatory, risk and corporate performance management applications to more than 600 financial institutions in over 20 countries, including 37 of the top 50 European based financial institutions and 55 of the top 100 global financial institutions. Additional information about FRS is available at www.frsglobal.com.

 

 

S1 Corporation (Nasdaq: SONE) is a leading global provider of enterprise software solutions for more than 4,000 banks, credit unions and insurance providers around the world. Comprised of applications that address virtually every market segment and delivery channel, S1 solutions help integrate and optimize an institution's entire front office, resulting in increased operational efficiencies, revenue opportunities and overall customer satisfaction. S1 is the only provider with the proven experience, breadth of products and financial strength to empower financial services companies' enterprise strategies. Additional information about S1 is available at www.s1.com.