Misys and Digital China Agree To Provide ASP Services to Chinese Banks
Digital China Financial Software (DCFS) and Misys have signed a strategic cooperation agreement to deliver a new, hosted, banking solution targeted at the estimated 30,000 small and medium-sized banks in China. Using the DCFS ModelB@nk integrated solution as the basic framework and integrating it with Misys Equation, Misys Trade Innovation and Misys Opics, the companies plan to create a core-banking platform that will be hosted, offering a new application outsourcing service for banks. Core banking will remain the biggest sub-market in the Chinese banking application solutions market, which is expected to reach 16.3% by 2011 and will top RMB2.4bn (£163m). DCFS and Misys believe that there are significant opportunities in the financial ASP service in China.