Misys Buying Digital Banking Tech Provider IND Group

Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

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.

JOIN THE DISCUSSION

SEE MORE IN

RELATED TAGS

'Dodd-Frank Is Like the TSA': Comments of the Week
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms.

(Image: iStock)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.