SunGard announced the acquisition of Zurich-based Genix Systems AG, a provider of customer information systems to small and medium-sized private banks.
Genix will be integrated into SunGards banking business, and Genixs flagship solution WinDekis will become a part of SunGards Ambit Apsys private banking solution.
Daniel Bardini, president of SunGard Ambit Apsys business unit, emphasized the value of focusing on small and midsized businesses in the current economic climate. In the wake of the recent financial crisis, many small and medium-sized Swiss private banks have experienced significant growth in their customer numbers, he said. This growth highlighted the efficiencies gained from having tight integration between core banking and customer information systems. The acquisition of Genix, recognized experts in customer information systems, will allow SunGard to have an integrated product roadmap.
Co-founder of Genix, Bruno Matter views the acquisition as an opportunity to expand the companys customer base and build on a strong foundational relationship with SunGards private banking team. We have worked with SunGard, and particularly the Ambit Apsys private banking team, for a number of years and have always enjoyed a good working relationship. This acquisition will now give us access to a wider customer base and provide us with the backing of a strong and experienced company, he said.
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