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.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.