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Piraeus Licenses Misys BankFusion Equation to Deliver Products

LONDON, February 1 /PRNewswire-FirstCall/ --

- Faster Than its Competition and to Strengthen Expansion Plans

Misys plc (LSE: MSY), the global application software and services company, today announces that Piraeus Bank, the Athens-based universal bank, has licensed Misys BankFusion Equation as the technology platform to underpin its expansion plans.

Misys Equation has added value to Piraeus Bank's operations for many years across its domestic and selected international branches, using Equation to run the bank's operations across 343 branches in Greece and 220 branches in three of its international subsidiaries. Piraeus went live with Equation 3.9 in its Albanian operations in 2008 and Romanian business in 2009. The implementations were an important part of the bank's growth strategy and has helped Piraeus to continue to achieve its business ambitions, as it continues to expand in South-Eastern Europe and the Eastern Mediterranean markets. Its future growth objectives in its domestic and international operations will be accelerated by BankFusion Equation.

In this latest release of the solution, Equation has been re-architected into an SOA environment using Misys' revolutionary BankFusion(TM) platform. Misys BankFusion Equation delivers Java (J2EE) re-usable components to Piraeus and gives it improved security and risk management capabilities and the flexibility to scale the business rapidly. BankFusion Equation automatically generates the system's Java code, significantly reducing manual input and errors and accelerating solution modifications.

"It is imperative that we move faster than our competition," states Janis Delis, DGM - Operations Technology and Organisation, Piraeus Bank. "Our investment in Misys and its BankFusion Equation solution is critical in our desire to maintain our competitive edge as we continue to expand and to be agile and innovative for our customers. The revolutionary technology in BankFusion Equation will allow us to launch innovative new products and services quickly that would normally take months of development with other core banking systems and seamlessly integrate best of breed solutions. We look forward to continuing to receive the support we have received over the fruitful relationship we have had with Misys, and to strengthening our position in retail banking and enterprise financing still further."

Guy Warren, EVP and General Manager, Banking, Misys states, "The management team at Piraeus has chosen to invest in Misys, our BankFusion strategy and the future roadmap of the solution. This will give them a unique ability to tailor their business processes to the exact requirements of the organisation, without having to replace the existing underlying technology, and enable them to stay ahead of the competition."

About Misys plc

Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.

In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys plc owns a controlling stake in NASDAQ-listed Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 people who serve customers in more than 120 countries.

We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.

    Misys: experience, solutions, results
    Contact us today, visit:

    For further information please contact

    Edward Taylor
    Global Head of Public Relations
    Solutions for Banking and Treasury & Capital Markets

    Sebastian Mathews
    Financial Dynamics

SOURCE Misys plc

SOURCE Misys plc
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