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Misys Signs Global Development Agreement with Symphony Services

Misys and Symphony Services

Symphony Services announced that Misys selected Symphony as a strategic development partner to strengthen its product development capabilities within the context of Misys' flexible sourcing model for development. The companies will work together to improve flexibility, efficiency and time-to-market.

Symphony's product development focus, financial services experience and technical expertise--including SOA development, quality assurance/testing and user interface design--will help Misys continue to provide its customers with innovative solutions. The Misys BankFusion platform, which enables banks to reduce complexity and costs while satisfying regulatory requirements, improving customer/partner collaboration while increasing revenue, is the first of several initiatives that Symphony will work on with Misys as part of an initial 5-year relationship, continuing Misys' strategy of speeding new, innovative solutions to market through collaborative, winning partnerships. The Symphony product engineering team will operate in concert with Misys' internal development team across the company, collaborating with staff in India and the UK.

"At Misys we have created a flexible sourcing model for development globally so that we can deliver solutions to our customers quickly and efficiently," said Cory Eaves, EVP, CTO & CIO, Misys plc. "In 2008, we will deliver the first true SOA-based banking solution in the marketplace, providing our customers the ability to respond rapidly to changes in their business and the wider market. We selected Symphony for this strategic work, as the company has a history of success and is a perfect match for our particular development needs. We expect that the relationship will broaden over time."

"Financial services and banking organizations are facing an increasing amount of competitive pressure and operating challenges, such as the need to balance increased demand for new products with the reality of fewer resources," added Gordon Brooks, president and CEO of Symphony Services. "Our industry-and-technology-specific expertise will help Misys accelerate time-to-market and realize process improvements--so it can continue to deliver winning solutions faster and more efficiently."

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SOA World Magazine News Desk trawls the world of distributed computing and SOA-related developments for the latest word on technologies, standards, products, and services and brings key information to you in a timely and convenient summary form.

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