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Misys Buying Digital Banking Tech Provider IND Group

The London financial software company Misys has agreed to purchase IND Group, a Hungarian company that provides online and mobile banking, personal finance management and payment technology.

The deal builds on a partnership the two companies signed last March. The price was not disclosed.

Personal banking through mobile devices is growing. More than half a billion people bank through mobile devices, and that number is forecast to double over the next four years, Misys Chief Executive Nadeem Syed said in a press release Monday.

IND's suite of pre-integrated solutions is now available to the 500 banks and financial institutions that use Misys' products to run their businesses.

"This deal reinforces our digital banking proposition in this rapidly expanding area by adding consumer-oriented solutions to our offering," Syed says in the release. "It helps us grow our business following six straight quarters of revenue growth and secure our position in banking."

Last year, IND Group entered a partnership with PayPal to allow consumers to make person-to-person payments from a bank's online banking site.




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