U.K. financial services vendor Misys announced that is has acquired Budapest-based digital channel solutions vendor IND Group for an undisclosed sum.
Misys, which specializes in core banking solutions, said the acquisition will now add digital retail banking solutions to its portfolio. The acquisition builds on an already-existing partnership which Misys signed with IND Group in March 2013 and will augment future investment in the combined offering, the company said.
IND's suite of pre-integrated solutions is now available to all Misys bank clients, including Misys’ 500-plus core banking customers, which the company says will equip them to deliver an omni-channel experience to consumers.
IND was founded in 1997 and has more than 30 bank clients around the world, including Alior, Erste Bank, and UBS, supported by over 200 employees based from eight offices. It provides online and mobile banking, personal finance management and payments solutions.
“This is very exciting for us and our customers,” said Nadeem Syed, Misys CEO in a written statement. “The market for digital banking is exploding. More than half a billion people already use mobile devices for personal banking and this is set to double in the next four years. This deal reinforces our digital banking proposition in this rapidly expanding area by adding world-class consumer-oriented solutions to our offering