Misys is expanding its Basel II and risk management offerings with the purchase of Almonde.

Almonde's asset and liability management (ALM) and regulatory compliance solutions (Basel II, IAS and FTP) will be combined with Misys Banking System's existiong solutions.

Mysis already have limits management, market, operational and credit risk, collateral management, securitisation and economic capital as well as its core banking, trading and back-office platforms in its portfolio.

The consideration was €15m.

The combined expertise of Almonde and Misys will bring together the leading forces in risk management technology to enable banks and corporate customers to manage their risks across the whole organisation for Basel II or IAS compliance, risk exposure around ALM, or improving profitability around funds transfer pricing.

Misys and Almonde have been working together closely for the past year and had already formed a strategic partnership to provide financial institutions with comprehensive Basel II and ALM solutions. This was the next logical step in building on the close partnership, according to Michel van Leeuwen, CEO, Risk Management, Misys Banking Systems.

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