Misys targets India's capital and treasury market
By siliconindia   |   Thursday, 16 November 2006, 20:30 IST
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Bangalore: UK-based banking software provider Misys is now targeting the Indian market, particularly niche segments of financial services sector like the capital and treasury market. With this view, it had opened a sales office in the country in August 2006. Manoj Kumar. Head, Products and Services, Misys India told at a press meet on Tuesday that the treasury and capital market represents a $40 to $50 million market opportunity, and the company was eager to tap into the pool. Misys had started its India operations in 1998, with a solitary development center in Bangalore. It employs around 1000 people in the Bangalore center with more than 60 percent of the workforce focused on the banking segment and the rest on healthcare. Kumar said that the Bangalore center has been involved in core product development activity. Kumar added that around seven domestic banks are enlisted as Misys’ clients and they avail of their core banking and treasury solutions. The bank solutions of Misys will be targeted in keeping with its present profile in the country, mainly at areas of treasury, syndicated lending, risk management and trade finance. Misys has witnessed that owing to increased global competition, India banks are moving swiftly into more sophisticated financial services segments. According to Ram Subramanian, business solution manager, Misys India, most banks are looking either at replacing their existing technology platforms or new solutions.

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