Business solutions provider, Ovations Group has signed a strategic partnership agreement with Misys International Financial Systems, a member of the Misys Group of Companies. The partnership brings to the local market, a key end-to-end solution that leverages the expertise of Ovations as a niche business transformation solutions provider and Misys’ ability to deliver mission critical solutions and services to the financial services sector.
Trends in the South African banking sector still show cost reduction and product agility as top priorities for both first and next tier banks. Local banks are also increasingly targeting new geographies and new customer segments to drive revenue growth. A flexible platform that supports these value drivers is key to any expansion strategy and revitalisation initiative.
“The timing of this partnership is ideal for capitalising on the market trends, but also in expanding our existing client portfolios primarily in the area of core banking, which is a key strength of the Misys value proposition,” says Jacques Fouche, Core Banking services lead for Ovations.
The partnership will see Ovations become Misys’ preferred channel partner in South Africa, expanding the footprint for the UK based organisation and in so doing, extend its financial services sector team and expertise.
Adds Marius Claassens, Client Services Exective from Misys, “We have long been anticipating the need to expand our services footprint in Africa, and believe that our success in market, hinges on our ability to find best fit partners, who bring to the table, an established presence. Ovations more than meets this requirement, coupled with a consulting methodology that complements the services and solutions we have in our portfolio.”
As one of the largest vendors of banking software and solutions in the world, Misys is in a unique position to understand the importance banks and othe financial institutions place on improving business resilience and lowering total cost of ownership.
Misys currently has more than 4 000 employees worldwide and delivers service to in excess of 1 200 financial institutions, including every one of the world’ top 50 banks in more than 120 countries. In the Middle East and Africa region alone, Misys boasts of over 230 customers and a 14% revenue growth for Asia, Latin America and MEA in the last financial year.
“We believe the synergies between Misys and Ovations make the partnership compelling for the financial services industry and we look forward to what the future holds for both brands,” concludes Claasens.