In a drive to expand its retail offering, international banking software company Misys has acquired Hungarian IND group, a mobile and online banking specialist.
IND Group is currently working with 30 banks including Alior, Erste Bank and UBS providing online and mobile banking, personal finance management and payments solutions.
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The announcement of the finalised deal follows Misys working closely with IND throughout 2013.
Nadeem Syed, Misys CEO, said: "This is very exciting for us and our customers. 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."
Balázs Vinnai, IND Group CEO, added: "Our vision has always been to help every person on the planet better understand their daily finances and give everyone the chance to have an easier and healthier financial life.
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By GlobalData"Consumers look for convenience and ease when choosing financial products. We equip banks with the tools to improve the experience for anyone dealing with their finances.
"Joining Misys will help make this global vision a reality faster by accelerating the development of our digital channels solutions."
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