FBA009 Misys Supplement V5 Final

8/6/2019 FBA009 Misys Supplement V5 Final

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Special report > Banking innovation

57Future Banking | www.banking-gateway.com

Renew and

improveFor more than 30 years Misys has provided

innovative solutions or fnancial services frmsworldwide. Misys helps more fnancial institutions

deliver outstanding service than anyone else.Industry experts within the organisation explain

some o the biggest challenges acingthe industry and discuss strategies or

dramatically improving both operationalefciency and customer satisaction.

Visit us at www.misys.com.

Banks face the combined challenges of

regulatory burden, heightened competition,

market rationalisation, intense pressure on costs,

the drive for enhanced customer service and the over-

arching need to return greater profit margins. For these

reasons, the role of the core banking system has never

been more important.

The new era of banking demands a fresh technological

approach, as banks must rid themselves of the burden of

inflexible solutions designed and implemented when the

financial world was a very different place. Misys has

developed a platform that helps banks to protect their

investment in existing systems while de-risking the

renovation of their financial services offerings to meet

today’s challenges.

Misys BankFusion technology is an exciting platform for

the future for financial services organisations.

Most financial institutions have grown their IT

infrastructures by opportunity rather than by design. The

resulting spaghetti of connections is extremely complex to

manage. Even for newer banks, a myriad of interfaces is

often needed for regulatory compliance and to run

operations effectively.

Core system replacement is a difficult decision for a bank

and a challenging offering for vendors. Nevertheless,

maintaining the status quo is increasingly problematic for

institutions as technology advances open up alternatives.

The industry is moving towards a more componentised

approach based on frameworks. This not only reduces

operational risk to the business but also makes

incremental, iterative core banking projects possible. The

Preparing for growth,renewal and new services

The allout rom the fnancial crisis hasmade many banking systems appearshort-sighted and out-o-date. Peter Scott,solution director at Misys, explains how theprocess-centric approach pioneered by the

company can result in more transparent,cost-eective and exible core operations.




58 Future Banking | www.banking-gateway.com

value of a platform like Misys BankFusion comes from its

process design and usability.

In the past, banks were tied to a vendor for functional

development and localisation. Adapting a banking system

to local regulations and standards involved rewriting

and retesting code – a resource-intensive process,

particularly in multiple-country implementations where,

for example, local VAT calculations or accounting

standards may be significantly different. The process-

centric approach gives greater flexibility and reduces

resources allocated to investment.

Misys has leveraged 30 years of knowledge as one of

the world’s leading financial software and services

companies to develop BankFusion. BankFusion is Misys’s

new platform, which allows banks to deploy business

applications with unprecedented speed and agility.

Through this unique, game-changing solution, Misys

now has the technology to allow customers to realise

significant competitive advantage. Misys BankFusion

provides banks with the ability to bring new products to

market in days not months, help change business

processes in minutes not weeks and react to the changing

business environment in real time. This is the technology

solution that banks need to help them to deliver the

business agility they have been looking for.

BankFusion has a unique set of propositions that

address these issues by providing enhanced business

agility and superior technological and service flexibility.

The BankFusion solutions are being taken to market in

various forms, which will appeal to a wide range of

institutions from tier 1 and 2 banks wishing to renovate

existing legacy systems and acquire new service add-ons,

through to lower tier 3 and 4 banks that need the latest,

most flexible universal bank ‘in a box’.

The process-centric approach and product composer in

BankFusion allow the business to define and build product

functionality based on the business process required.

BankFusion offers a greater level of business involvement

and accelerates the introduction of new products. It also

simplifies the product design as BankFusion can merge

several workflow designs.

In the same way that Misys has used BankFusion to

renovate its own systems, other financial services can also

utilise the platform to extend the life and functionality of

their applications, whether they happen to have been

designed and developed in-house or by other systems

providers. The knowledge and experience gained through

enhancing existing Misys applications, coupled with the

BankFusion Business Solutions Library, enables financial

institutions around the globe to update their banking

The term ‘transaction banking’, although increasingly

common, is not yet fully defined. Despite this

ambiguity, two key pillars within all transaction

banking divisions are cash management and trade finance.

Not only have these proved to be stable revenue generators

during difficult economic times, they are also at the centre

of some of the most interesting developments in the

financial services industry.

“These two activities have been around for a long time,

but each of them existed in a separate silo,” explains Olivier

Berthier, solution director at Misys. “Now companies are

beginning to view them in a holistic way. They are looking

more from the corporate customer standpoint and the

desire to gain a consolidated view of all activities related to

a company.”

This new approach has a number of drivers. Banks are

looking to increase the efficiency of their cash management

and transaction processing, but there is now a renewed focus

on the corporate customer. This has resulted in a range of

front-end technological innovations that allow banks to

collaborate more closely with these customers and develop

new, tailor-made products.

“Historically banks have focused on processing and the

efficiency of the back office,” Berthier explains. “Now we are

seeing banks look at their corporate value chain, decide how

they are going to pitch products and do it in a way that

focuses on customer service. The more that is understood

about what a client wants the more carefully tailored a

product can be. It allows banks to broaden their business

and grow their revenue options.”

A platform for change

This increased flexibility in putting together products is

largely afforded by a new approach to trade finance. The

power of the internet has supported the evolution of open

account trade, allowing all parties to share information quickly

and make real-time decisions. The platform is attracting

attention from both trade finance specialists and operators

with a cash management background.

“With the open account business, which allows buyers and

suppliers to enjoy a much more direct relationship, there are

better, less risky ways to manage the financial supply chain,”

Berthier says. “It is also generating lots of new opportunities

Open for businessOlivier Berthier, solution director atMisys, reveals how technology can enableinnovative fnancial supply chain solutions.





for banks to design new products, not necessarily based on

the old, well-defined principles.”

In response to these changes, Misys has created online

portals with integrated value-added financial services, which

allow for the real-time, transparent movement of information

by connecting banks with buyers and suppliers. Demand is

coming from corporations, which see how such technology

can improve their own supply chain relationships.

Leading by example

“One project we’ve worked on recently involved Crédit

Agricole and one of its big corporate customers on the import

side,” Berthier recounts. “The corporate had the objective to

improve the way it managed its relationship with some of its

suppliers – to help suppliers in the management of their own

cash flow.”

Crédit Agricole ultimately wanted to increase the visibility

of its supplier relationships and encourage the more timely

notification of statuses and payment-related information.

The corporate wanted to be able to roll out the service itself,

without having to rely on complex know-your-customer

(KYC) reports from the bank.

“It came out of a direct demand from the corporate,

not driven by the banks wanting to roll out a new product,”

Berthier explains. “It’s a good example of how corporates are

using this new platform to improve relationships with their

clients. They are not just saying, ‘I want to have a very cheap

fee for issuing early payments’.”

Over the short term, Berthier expects movements towards

harmonised financial products in the open account field.

“A lack of standardisation is preventing the full development

of financial supply chain services,” he explains. “To reach critical

mass in the open account space, we need to standardise. A lot of

parties are looking at this and I’m sure we’ll see great gains

made over the next year.”■

Financial institutions have long known that there are

great potential benefits to be derived from achieving

lending consolidation. They can gain greater

efficiencies, improve standardisation and enhance their risk

management and exposure reporting capabilities.

Until recently, cost and disruption to the business prevented

many taking advantage of the efficiencies gained from placing

lending lines of business on a single platform. However, by

consolidating syndicated and bilateral lending onto a single

system, financial institutions will see immediate improvements in

operational efficiency. Loan processors ‘touch’ the data much

less, which means fewer errors and processing delays. According

to Eyal Altaras, the critical operational efficiency increase comes

from continuous virtual straight-through processing.

“Financial institutions have processing centres worldwide.

If operations fail at one processing centre, then others can still

virtually service the loan. Centres can also take over work

from each other, providing 24/7 services with no downtime.”

Altaras argues that one of the most important consolidation

benefits is the bank’s ability to access comprehensive

exposure reporting across their various lending lines of

business in real time.

“In the past, organisations used to report on exposure once a

month. In today’s heightened regulatory environment, with

Basel II and III, organisations need to report on exposure faster

and more regularly.”

A single system will also promote the development of

standards in lending operations: workflow processing, lending

structures and naming conventions. Financial institutions will

be able to improve exposure reporting and monitoring controls

as well as create a better system for global coverage and

disaster recovery back-up.

Financial institutions have to grasp the opportunity

that consolidation brings now if they want to improve

reporting, visibility, operational efficiencies and ultimately

customer service. ■

Lending consolidatedEyal Altaras, senior solution consultant at Misys Loan IQ, explains how consolidatinglending channels can result in cost savings and increased efciencies.





Internet access to personal bank accounts has been

around since the late 1990s, but has failed to live up to

the initial hype and replace its more costly sister

channels. In fact, banks are investing more in their branch

networks and telephone banking is thriving. A total of 80%

of customers still do not use the internet to access their

accounts, so what has gone wrong?

The reason for the disappointing performance of online

banking, compared with the internet success stories of the

past ten years is simple: banks didn’t provide anything worth

the effort of logging on. So after investing in a ‘must-have,

me-too’ channel, banks have found that customer apathy is

depriving them of the cost-savings they were promised. And

yet banks appear to have renewed their interest in online

banking. Lloyds TSB, Wells Fargo and Bank of Montreal have

relaunched their online banking services with the addition of

personal financial management (PFM) tools. These tools use

bar charts, pie charts, and graphs to give customers a better

understanding of their spending habits and offer budgeting

tools to manage their financial futures.

This isn’t new technology. Consumers have been able to

access a single consolidated view of their finances through

aggregators such as Yodlee and Mint since the late 1990s.

Success for these non-financial companies has been mixed,

with several start-ups going to the wall in recent years. The

jury is out on whether banks will have more success in

attracting customers, but a recent research report found

that customers were much more likely to trust their banks

with their security and financial data.

If online banking hasn’t delivered the return on investment

banks were hoping for, why invest more? Part of the answer

does indeed lie in the success of mobile banking. Mobile

web-browsing, text messaging, location services, social

networking, gaming and lifestyle apps on smartphones mean

that we now use our phones for much more than just making

A renaissance in online banking?

Many banks have seen the businesses of their

corporate customers change considerably in

recent years. Customers, especially of smaller

financial institutions in the US and Europe, are adopting an

increasingly international outlook. Trade and foreign

exchange transactions are beginning to play a much more

prominent role and on-tap capabilities are needed to handle

these demands.

In addition, difficult financial times have led senior

managers to demand a clearer, more up-to-date overview of

their corporate liquidity. Stephane Nouy, solution manager,

and Nick Clare, manager, TCM Solution Consulting, Europe,

at Misys, see the development of portal technology as key

to a bank’s ability to satisfy these demands.

Get connected

Misys has spent the past few years developing a single

portal platform for delivering online banking services to

corporate and retail customers. An out-of-the-box solution,

which can be fully integrated with a bank’s back office,

creates a seamless connection between financial institutions,

their customers and third parties.

“Corporates benefit from improved liquidity management

and the ability to carry out transactions 24 hours a day, even

outside the bank’s opening hours,” Nouy explains. “But

portal solutions can also prove beneficial to the bank. They

can create cost savings and also generate revenue.”

Easy integration with the back office creates a unified

interface, which simplifies risk management and allows

for new online products to be brought to market more easily

and quickly.

“From a customer service perspective, increased efficiency

will always be a real asset for a bank,” Clare explains.

“The corporate can define its own settlement instructions

in the portal, allowing its trades to get settled automatically.

It’s a great way for the banks to make sure that their trades

are carried out one time and they don’t have to bother

managing exception trades, which cost so much more

to process.”

The treasury portal While electronic trading has been indemand or the past decade, the multiplebenefts o business-to-bank connectivityare only now becoming clear. Stephane

Nouy and Nick Clare explain thedrivers behind this trend and how portaltechnology will play a key role.

Despite the potential benefts, internetbanking has ailed to make the impression

that many thought it would. CarmenCrutchfeld, solution manager at Misys,discusses the tools and services availablethat can help online banking dierentiateitsel rom other channels.





and receiving telephone calls, putting our mobile phones at

the centre of how we manage our lives. Banks are

anticipating that smartphones and tablet computers such as

the iPad will drive demand for mobile banking services and

that today’s online and mobile banking formats will evolve

into a single channel.

The tools banks are launching now are genuinely useful

for customers, offering an easy way to check your spending

habits, spot trends, make savings and plan for the future.

The bank’s online banking service does all the hard work

for you, presenting you with really useful analysis. You can

also take immediate action on this information within the

same channel. So banks are reacting to the rise of mobile

services and hope the PFM tools will ‘move the mix’ away

from costly branches and call centres, but are there other

reasons? The clue here lies in the origins of PFM tools. PFM

service providers sold their services on the claim that they

could aggregate all your financial relationships in one place,

giving you a complete view of your financial position.

Added to this was the promise of getting better deals on

your financial products through online price comparison

tools. Banks are obviously hoping that if their customers

also choose to pool all their financial data into their online

banking account, this will be a step closer to consolidating

all their business into one place.

These new tools could not have arrived at a better time for

banks. The financial crisis, coming just after the controversies

over bank charges, has led to a collapse in public trust in

banks. New entrants into the market are gaining traction in

this critical environment. It’s now easier than ever to switch

banks and banking products. Banks that can be seen to be

offering genuinely useful tools to help their customers manage

their finances in a climate of austerity and sparse credit can

position themselves as responsible partners, acting in the best

interests of their customers, and thus begin to regain the trust

of the public and rehabilitate their tarnished images. ■

The single portal can be plugged with functional

components from across a bank’s product portfolio, from FX

and money markets to trade finance. According to Nouy, this

is a product of Misys’s extensive experience in the field.

“We haven’t started the Misys Portal for Opics Plus from

scratch,” he explains. “We are taking a global portal approach

with a product that is proven with corporate customers.”

Case study: regional bank client

An example of the advantages of an out-of-the-box solution

involves a recently signed regional bank client of Misys,

which was seeking a feature-rich package to provide to its

corporate customers.

“They wanted a combination of FX and trade services,”

Clare explains. “The single portal provides them with all the

drafts, wires, letters of credit and FX functionality they need.

They can now reach a scalable set of corporate customers

and automatically configure margins and spreads to aid their

trading desk. The new capabilities delivered by the Misys

Portal platform now ensure that the regional bank optimises

the straight-through processing capabilities offered in order

to allow them to increase efficiencies while decreasing the

operational r isk.”

FX for the future

Looking ahead, Misys will be paying close attention to

FX and its potential to supplement increasing numbers of

front-end operations. Clare and Nouy also anticipate the

greater movement of mobile technology from the consumer

into the corporate space.

”There are a lot of areas where the bank can provide FX

services, such as when you repay a loan and want to debit

an account,” Clare explains. “There are also great

opportunities in commercial lending and cash management

services. This is a very much a one-stop-shop for treasurers.”

Nouy is confident of what differentiates Misys from its

competitors.“It is what we have on top of the portal

technology that makes us unique,” he explains. “This out-of-

the-box integration between the portal and back office and

our experience in covering a range of functional areas are

unique features.” ■

The new capabilities deliveredby the Misys Portal platorm nowensure that the regional bankoptimises the straight-throughprocessing capabilities oered inorder to allow them to increaseeiciencies while decreasingoperational risk.

PFM toolsPFM tools are unlikely to attract new current accountcustomers, but they will be powerul tools in the banks’campaigns to encourage their existing current accountcustomers to bring them more o their other business; e.g.mortgage accounts, personal loans and insurance products.

Banks will be able to boost their cross-selling campaignsby advertising personalised oers as part o the PFM onlinereports and displays, reaching their customers morerequently and at precisely the time their customers arethinking about their inances. The aggregated customerdata will help banks understand their customers better andhelp them tailor their products and services.





Developments in consumer mobile

technology have opened up new

channels for communication between

banks and their customers. Harnessing the full

power of this fledgling technology is, however,

proving a struggle for many.

Banks’ mobile offerings are mainly reactive in

nature, such as sending one-way informational

text messages that require a customer response.

This removes the cost-saving potential of

mobile by forcing customers to reply via a

traditional service channel such as a call centre.

In addition, many banks are funnelling

investment into smartphone capabilities when a

majority of their customers have yet to graduate to

that technology.

“If your main focus is releasing phone apps, you are

putting investment into a very small segment,” explains

Tim Tyler, solutions manager at Misys. “You need to think

more broadly. It is about the customer and the fact that

they are mobile, more so than the technology itself. What

methods are my customers going to use to access bank

services while they are mobile?”

Commercial break

On the retail side, Tyler emphasises providing easy access

to banking services in a proactive fashion that exploits the

inherent advantages of mobile technology.

“Mobile phones are multi-modal,” Tyler explains. “You

have SMS, voice, a web browser, all of which offer real-time

potential that no other channels can. Actionable text alerts,

for example, which allow for a direct customer response,

could save a lot of money.”

This real-time functionality could be especially useful

when handling instances of credit card fraud, which can

often take days to detect. It is also useful for more routine

operations, such as responding to balance enquiries.

“Banks can use the mobile channel to immediately verify

suspicious transactions with customers directly,” argues Tyler.

From a corporate banking standpoint, customer priorities

are different. Multiple interfaces on small devices are not as

important for workers sat in front of a computer for much of

the day.

“In the corporate world it’s really about notifications and

approvals,” Tyler says. “Payments often require multiple

approvals and executives are not tied to their desks. Banks

could offer greater flexibility”

Social services

Misys recognises the huge opportunities for banks to

exploit the popularity of sites such as Facebook, not just

from a brand management perspective, but as a service

channel in its own right.

Misys is building customer mobility into its banking

solutions working alongside social media and networks. For

Tim, mobile banking is more than just banking on a mobile

phone, but embraces banking customers wherever they are.

“Mobile network operators will send a message

welcoming a customer to a new country,” Tyler explains.

“There is no reason why banks can’t send a message

saying, ‘Welcome, for free cash withdrawals use these

ATMs, your exchange rate right now is this’. It’s about

looking beyond the phone at where the customer is and

delivering superior services based on that.” ■

There are huge opportunitiesor banks to exploit the popularityo sites such as Facebook, not

just rom a brand managementperspective, but as a servicechannel in its own right.

Many banks place the handset at the centre o their mobile phone strategy. Solution managerTim Tyler explains how a broader, moreconceptual approach to mobile technologycan cut costs and greatly expand the scope o customer relations.

Banking on mobile technology





Payments divisions have long been an undervalued

asset for banks. Steady but unglamorous, they were

often viewed purely as cost centres and were

consequently hindered by a lack of investment. In recent

times this has started to change.

The economic crisis highlighted the value of payment

services, which continued to generate returns while many

other divisions suffered. But even as banks began to see the

benefits of investing in payment services, a number of

mitigating factors were coming into play.

Post-recession regulatory changes, the growth of SEPA

and increased competition from non-banking money transfer

services are threatening banks’ ability to profit from

payments. On top of this, heightened customer expectations

are putting pressure on financial institutions to be more

innovative in the facilities they offer and to provide better

customer service.

“Payments moved to centre-stage during the financial

crisis,” explains Barry Kislingbury, solution manager at Misys.

“But now banks are feeling the squeeze from both ends.

Revenues from payments are dropping yet adjusting to

change is pushing costs up.”

These new challenges require banks to modernise their

often archaic payment systems, an expensive undertaking and

one which tier 2 and 3 banks are often reluctant to take on.

Some of the largest banks have built huge, expensive payment

systems in the hope that smaller banks will look to outsource.

Results so far have been mixed.

“Although many banks are losing money, a vast majority

want to maintain control of their payments,” says

Kislingbury. “What operators are looking for is a different

approach to modernising their processing environment

without having to spend a fortune or give away a core

competency to a third party.”

The hub of the matter

An increasingly effective way of doing this is by implementing

a payment services hub. More cost-efficient than a complete

back-office overhaul, hubs can help a bank harmonise its

payment applications, increasing process speed and visibility.

“Replacing legacy applications requires vast amounts of

manual processing and takes a lot of time and money,”

Kislingbury explains. “A payment services hub does not mean

the wholesale replacement of your back office, but is more

about integrating the assets you already have. If your

applications aren’t automated or tied together, you can’t

possibly make money or provide a higher level of service.”

Kislingbury cites a recent example involving an Australian

banking client, which wanted to implement a hub to handle

its larger corporate customers. These firms often deal with

multiple branches of the same bank and might have their

requests processed by a different application each time.

“The outcome was that one application might have very

good straight-through processing and produce very efficient

payments, but others would involve a lot of manual work and

consequently be very poor,” he explains. “Sometimes, a

customer would make a payment on time yet the bank

would process it late, meaning that the bank had to pick up

the interest.”

Misys helped the organisation create a payment services

hub, harmonising its applications and breaking down the walls

between its different silos. After a few years of operation,

efficiency and transparency improved dramatically.

“When we started out the client had straight-

through processing rates in the 40% area,

which is not uncommon,” Kislingbury

explains. “Now it is up to 99.3%. In the very

first weekend of operation, the new payment

system trapped some errors that would have

cost the bank a considerable sum of money.

It really paid for its own implementation.”

In the past some banks were reticent

to go down this route, deeming payment

hub implementation to be too complex,

but the knowledge now exists to do it

effectively. As Basel III forces banks to

reconsider their risk exposure silos will

continue to be broken down, making

payment service hubs an even more

attractive option.

“People just didn’t believe that these

solutions were out there,” Kislingbury says. “But

companies like us have come in from a different

background and so have fewer legacy issues than our

competitors. One customer recently made the move over to

SWIFT messaging to comply with new regulations. With a

modernised, centralised payment system they were able to

make the complete changeover in two weeks. Another bank in

the area took six months.” ■

Central to successRegulatory changes and increasedcompetition are making it more difcult orbanks. Barry Kislingbury explains howimplementing a payment services hub canimprove processing efciency, cut costsand generate revenue.

More cost-eicient than acomplete back-oice overhaul,hubs can help a bank harmonise itspayment applications, increasingprocess speed and visibility.




64 Future Banking | www banking gateway com


Regulated risk

A little intelligence

Basel III and other regulations drafted in the wake of the

financial crisis have pushed banks to address their capital

adequacy. However, many banks still do not have a full

understanding of their risk exposure, leading them to act with

more caution than necessary. They react slowly to new

investment opportunities or fail to allocate sufficient capital when

such possibilities arise. With some of the regulations coming into

force as early as next year, and with systemic changes required,

the sense of panic is palpable.

In order to comply with new regulations, banks have to gain

a holistic view of their risk exposure. Being able to analyse

business data and carry out stress testing in real time would

help them to decide how capital should be allocated and how

big a return different business units are making on

investment. According to John Le Hunte, sales manager of

Misys’s flagship Summit risk management solution, this is

rarely the case at the moment.

“Trading operations are largely desk-based, with systems

covering different classes of instrument,” he says. “Information

isn’t shared across the organisation, leading to inflated capital

figures, which provide fewer funds for reinvestment.”

Gaining the necessary visibility requires data aggregation. One

way of doing this is to feed data from current systems into a

single platform, bringing market and credit risk together to build

an economic capital calculator. This takes into account causalities

and interdependencies, producing a holistic view of risk.

The ultimate goal would be to have an independent pricing

factory, which would contain the pricing functions as libraries that

the front office, risk and accounting systems could use. Many

versions of the pricing library could exist for different purposes,

but all would be centrally located and fitted with version control

mechanisms. This would eliminate pricing hotspots and improve

overall consistency across the organisation.

Such systems ultimately allow for the comprehensive

calculation of risk across trading desks, giving banks the

knowledge to invest capital with confidence. ■

John Le Hunte explains why banksmust gain a holistic view o risk exposure i

they are to all in line with new regulationsregarding capital.

In recent years, banks have begun to take a proactive

approach to business intelligence (BI). Though efforts are

beginning to bear fruit, many organisations remain hampered

by poor data management and BI systems that aren’t tailored to

the needs of the financial services sector.

This at a time when banks are under increasing pressure to

realise profits, while simultaneously having to cut costs and

adapt to new regulatory requirements. Achieving this balance

requires improved operational efficiency. According to Andrew

Hebron, business architecture director at Misys, this comes from

businesses spending more time analysing data and less time

accumulating it.

“If data can be queried quickly and interrogated in a more

conversational manner, new business plans and cost reduction

initiatives can be put into place in a decisive manner,” he says.

“Understanding the performance of products and divisions, risk

exposure assessments and hypothetical impact analysis are

becoming critical to the success of a business.”

Achieving this level of BI efficiency has proved difficult for

many. The huge amount of data stored by banks is often of poor

quality and split across multiple departmental servers. In fact,

Misys and IBM estimate that financial institutions without

effective BI systems can spend up to 90% of their time

accumulating data and only 10% analysing it, but this trend

is reversible.

Firstly, financial and operational parts of the business need to

make sure their priorities are aligned. While IT departments

work to collect and structure disparate data, companies can

ensure the information is of a high quality by investing in tools

that can be manipulated by business users themselves, without

the need for technical help.

IT should also trust business users to change the way in

which they track and measure performance, and invest in a

robust data model that can adjust to changing analytical

requirements. Such an overhaul need not be disruptive. An out-

of-the-box solution can be installed quickly, delivering an

immediate return on investment.

The failure of BI projects is often in project management. A

lack of common goals makes designing complex systems from

scratch extremely difficult. Opting for a standard solution from

an established provider can result in quicker, more effective

project execution. ■

Andrew Hebron, business architecturedirector at Misys, explains how fnancialinstitutions can spend more time analysingtheir data and less time accumulating it.

Documents

FBA009 Misys Supplement V5 Final