Misys says it is seeing significant take-up of its BankFusion core banking solutions. More than 50 banks, including Co-operative Bank of Kenya, National Bank of Kenya and Awash International Bank, have decided to renovate their existing systems using BankFusion rather than take the higher risk rip and replace path.

“Changing a core system is a painful and difficult process,” says Bart Narter, research director, Celent. “Ripping out and replacing a mission-critical core banking system is not only very costly, but it can dramatically increase risks. Banks have to find a way of extending the use of their existing systems and at the same time enhancing them. BankFusion is a viable option for them to succeed in that goal.”

Bret Bolin, CEO at Misys, comments: “The risks associated with replacing a core banking system are considerable and the cost of failure is high. It is no surprise that banks’ CEOs and CIOs will only reluctantly replace core banking systems. Our customers have taught us that we need to deliver solutions that support them whatever journey and pace of change they decide is right for them. The key is to ensure that together we enable them to follow a low-risk ‘continuous migration’ approach to system renovation to continue to improve their businesses. With the continued investment in our products and the high quality standards we achieve, we are committed to partnering with our customers to help them make significant improvements to their operations.”

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