Misys had previously integrated the GCL solutions within its offering and currently has 15 customers benefiting from the partnership in the United States. Acquiring and fully integrating the software and IP into the Misys strategic offerings and roadmaps will provide a great opportunity for banks looking to improve their global footprint.
GCLâs experience of US domestic payments, including FED and CHIPS (the Federal Reserveâs Fedwire funds transfer service and the Clearing House Interbank Payment Systems) complements Misysâ deep global knowledge of payments hubs and connectivity to SWIFT. GCL's US-centric payments engine will be combined with existing Misys international payments capabilities so that not only will US-based banks now have an easier path to international expansion but also non-US banks can add US connectivity to their international payments processes.
âWe are extremely pleased to be able to bring these capabilities under a single roof and enable Misys to offer more comprehensive transaction banking and payment solutions to our customers as part of our portfolio,â states Amar Naher, Regional Sales Director Banking, North America, Misys. âWe have significant experience in both international and domestic payments services and technology and this will help to further enhance those offerings. We now have a US payments engine over which we have total control for all our core systems available for North American banks, paving the way for our transaction banking solutions to penetrate the US market further.â
Completed on 1 March 2011, the deal significantly opens up the US market to Misys, which now has a broader front-to-back solution for the transaction banking market there with certified connections to FED and CHIPS.