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.

Sport
David Moyes and Louis van Gaal
football
Sport
New Zealand fly-half Aaron Cruden pictured in The Zookeeper's Son on a late-night drinking session
rugby
News
Liam Payne has attacked the media for reporting his tweet of support to Willie Robertson and the subsequent backlash from fans
peopleBut One Direction star insists he is not homophobic
Arts and Entertainment
A bit rich: Maggie Smith in Downton Abbey
tvSeries 5 opening episode attracts lowest ratings since drama began
PROMOTED VIDEO
News
ebooksAn unforgettable anthology of contemporary reportage
News
Jacqueline Bisset has claimed that young women today are obsessed with being 'hot', rather than 'charming', 'romantic' or 'beautiful'
people
Sport
Greg Dyke insists he will not resign as Football Association chairman after receiving a watch worth more than £16,000 but has called for an end to the culture of gifts being given to football officials
football
Life and Style
A new app has been launched that enables people to have a cuddle from a stranger
techNew app offers 'PG alternative' to dating services like Tinder
News
people
Arts and Entertainment
Jake Quickenden sings his heart out in his second audition
tvX Factor: How did the Jakes - and Charlie Martinez - fare?
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

Quantitative Risk Manager

Up to £80000: Saxton Leigh: My client, a large commodities broker, is looking ...

COO / Chief Operating Officer

£80 - 100k + Bonus: Guru Careers: A COO / Chief Operating Officer is needed to...

Senior BA - Motor and Home Insurance

£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...

Market Risk & Control Manager

Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...

Day In a Page

A roller-coaster tale from the 'voice of a generation'

Not That Kind of Girl:

A roller-coaster tale from 'voice of a generation' Lena Dunham
London is not bedlam or a cradle of vice. In fact it, as much as anywhere, deserves independence

London is not bedlam or a cradle of vice

In fact it, as much as anywhere, deserves independence
Vivienne Westwood 'didn’t want' relationship with Malcolm McLaren

Vivienne Westwood 'didn’t want' relationship with McLaren

Designer 'felt pressured' into going out with Sex Pistols manager
Jourdan Dunn: Model mother

Model mother

Jordan Dunn became one of the best-paid models in the world
Apple still coolest brand – despite U2 PR disaster

Apple still the coolest brand

Despite PR disaster of free U2 album
Scottish referendum: The Yes vote was the love that dared speak its name, but it was not to be

Despite the result, this is the end of the status quo

Boyd Tonkin on the fall-out from the Scottish referendum
Manolo Blahnik: The high priest of heels talks flats, Englishness, and why he loves Mary Beard

Manolo Blahnik: Flats, Englishness, and Mary Beard

The shoe designer who has been dubbed 'the patron saint of the stiletto'
The Beatles biographer reveals exclusive original manuscripts of some of the best pop songs ever written

Scrambled eggs and LSD

Behind The Beatles' lyrics - thanks to Hunter Davis's original manuscript copies
'Normcore' fashion: Blending in is the new standing out in latest catwalk non-trend

'Normcore': Blending in is the new standing out

Just when fashion was in grave danger of running out of trends, it only went and invented the non-trend. Rebecca Gonsalves investigates
Dance’s new leading ladies fight back: How female vocalists are now writing their own hits

New leading ladies of dance fight back

How female vocalists are now writing their own hits
Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments