Misys seeks partner for Net venture

MISYS, THE acquisitive computer software specialist, is in talks with a number of high street companies over the launch of an Internet- based financial services venture.

Kevin Lomax, chairman, has approached several well-known names in the travel, retail and transport sectors with a view to setting up a "one- stop shop", offering a wide range of investment and savings products over the Internet.

Misys' plans will intensify the pressure on traditional branch-based banks and building societies to cut costs and move to more efficient ways of selling their products. Only last week, Barclays, the high street bank, shed 6,000 jobs in an attempt to cut costs and ward off competition from low-cost providers such as the Prudential's Egg bank and Standard Life.

Misys is believed to be looking at a joint venture with a large company with a very famous brand name to provide services ranging from life assurance to on-line share dealing.

Under the plans, drawn up with a leading management consultant, the computer company will provide the software for the Internet venture while its high- profile partner will lend a brand name to attract users to the site.

It is also possible that Misys' partner could earmark part of its high street branch network for advice or sale of financial services' products. No decision has yet been made on the partner for the service, but Misys is believed to have deliberately avoided talking to financial groups in order to safeguard the venture's independence.

The portal will act as a on-line broker, electronically linked to several providers. When users log on to the site and select the service they require, the Misys technology will select the best offer available.

The computer company already runs Screentrade, an Internet-based broker for home and motor insurance. Its software is also used to link a network of independent financial advisers.

However, Misys is believed to be keen to boost its offering with the inclusion of pensions, life insurance and share dealings.

The financial venture is the second attempt by Misys to enter the booming electronic commerce market. Last week, the company signed a strategic alliance with the US Internet healthcare specialist Healtheon. Under the deal, Healtheon will use Misys web software to distribute e-commerce products to more than 65,000 American doctors.

The service will enable doctors to use the Net to check important information on their patients, such as their medical insurance. The alliance is the first step towards the creation of an pharmaceutical portal on the web to tap the mushrooming demand of the American public for healthcare information.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

SThree: Graduate Recruitment Resourcer

£20000 per annum + commission: SThree: Sthree have an exciting opportunity for...

Recruitment Genius: Telesales Executive - OTE £32,000+

£18000 - £32000 per annum: Recruitment Genius: A Telesales Executive is requir...

Ashdown Group: Marketing Manager - B2B, Corporate - City, London

£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...

Neil Pavier: Commercial Analyst

£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...

Day In a Page

General Election 2015: The masterminds behind the scenes

The masterminds behind the election

How do you get your party leader to embrace a message and then stick to it? By employing these people
Machine Gun America: The amusement park where teenagers go to shoot a huge range of automatic weapons

Machine Gun America

The amusement park where teenagers go to shoot a huge range of automatic weapons
The ethics of pet food: Why are we are so selective in how we show animals our love?

The ethics of pet food

Why are we are so selective in how we show animals our love?
How Tansy Davies turned 9/11 into her opera 'Between Worlds'

How a composer turned 9/11 into her opera 'Between Worlds'

Tansy Davies makes her operatic debut with a work about the attack on the Twin Towers. Despite the topic, she says it is a life-affirming piece
11 best bedside tables

11 best bedside tables

It could be the first thing you see in the morning, so make it work for you. We find night stands, tables and cabinets to wake up to
Italy vs England player ratings: Did Andros Townsend's goal see him beat Harry Kane and Wayne Rooney to top marks?

Italy vs England player ratings

Did Townsend's goal see him beat Kane and Rooney to top marks?
Danny Higginbotham: An underdog's tale of making the most of it

An underdog's tale of making the most of it

Danny Higginbotham on being let go by Manchester United, annoying Gordon Strachan, utilising his talents to the full at Stoke and plunging into the world of analysis
Audley Harrison's abusers forget the debt he's due, but Errol Christie will always remember what he owes the police

Steve Bunce: Inside Boxing

Audley Harrison's abusers forget the debt he's due, but Errol Christie will always remember what he owes the police
No postcode? No vote

Floating voters

How living on a houseboat meant I didn't officially 'exist'
Louis Theroux's affable Englishman routine begins to wear thin

By Reason of Insanity

Louis Theroux's affable Englishman routine begins to wear thin
Power dressing is back – but no shoulderpads!

Power dressing is back

But banish all thoughts of Eighties shoulderpads
Spanish stone-age cave paintings 'under threat' after being re-opened to the public

Spanish stone-age cave paintings in Altamira 'under threat'

Caves were re-opened to the public
'I was the bookies’ favourite to be first to leave the Cabinet'

Vince Cable interview

'I was the bookies’ favourite to be first to leave the Cabinet'
Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat