Misys In Islamic Banking Push

Misys, a leading financial software company, has launched Misys FusionBanking Essence Islamic – a major new component in its ground-breaking banking platform, Misys FusionBanking Essence.

With an annual growth of 17 per cent, Islamic banking is a key area where banks can stay ahead of their competition and gain market share. Technology is stagnating banks’ profitability, with Islamic banks averaging just 12.6 per cent Return on Equity, while the rest of the industry averages 15 per cent.

Misys FusionBanking Essence Islamic has been developed as a specialist Islamic banking solution, with pre-configured Shari’ah compliant products, such as Murabaha and Finance Ijara instruments. The process-driven nature of the system empowers banks’ business users to design and build new Shari’ah-compliant products in a simplified and intuitive manner.

With FusionBanking Essence Islamic, banks have a solution and roadmap to transform their operations from the ‘outside-in’. This means engineering the bank and processes around the needs of the consumer - it’s all about them. Today’s consumers are tech-savvy, connected 24/7, social. FusionBanking Essence Islamic allows banks to create a new, differentiated customer experience, tailoring services and communications for millions of individuals.

“Islamic banking is ripe for disruption”, states Mahmoud Talaat, Product Manager, FusionBanking Essence Islamic, Misys. It is a growing segment, with customers looking for proven Shari’ah-compliant banking services with service levels on a par with, or exceeding conventional banking. With more than three decades of experience in this field, we have developed this new solution so that ambitious Islamic banks can modernise and transform their operations, so they can acquire new customers and increase their share of wallet.”

WEB'S BEST

Top stories from across the globe

  • Singapore Stresses Under a Wealth of Worries
  • A Short History of Investing in Gold – and What to Expect for 2017
  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.