Misys and Persistence Software Team to Deliver Successful e-Banking Solutions

Business Wire, May 21, 2002

Business Editors/High-Tech Writers

SAN FRANCISCO--(BUSINESS WIRE)--May 21, 2002

Misys International Banking Systems (Misys-IBS), one of the world's leading suppliers of IT solutions and services to the banking industry, has chosen Persistence Software's (NASDAQ:PRSW), PowerTier and its patented Distributed Dynamic Caching (DDC) technology to deliver quick and efficient data management for Fontis iBanking, part of its e-banking solution used by more than 60 banks in 40 countries.

Fontis iBanking enables banks to launch e-banking products and financial instruments to their customers within ten weeks using Persistence PowerTier(TM). Persistence delivers faster transactions for complex data, with ease of use and versatility to banks and their online customers due to Persistence's unique DDC technology. Misys selected PowerTier for its rapid application development capabilities, the platform's consistent and proven ability to handle mission critical applications while delivering peak performance.

As the largest company in Misys PLC's Banking and Securities Division, Misys-IBS has developed a series of products designed specifically to address the requirements of every sector of the international banking systems market. The Misys-IBS development team for Fontis iBanking, an e-banking solution, knew that for a corporate Internet banking system to be of benefit to the end-user it must provide reliable information fast which required data to be updated synchronistically as a pre-requisite. With the option of creating a data caching tool in-house or sourcing an existing product from a third-party supplier they decided on the second option and selected Persistence Software's PowerTier(TM) for its functionality, rapid implementation and ROI.

Customer tests have confirmed that the product is fast and reliable. Leslie Duckett, sales & marketing manager, Fontis, said, "Fontis iBanking would work without PowerTier(TM) but it would be significantly slower, so much so that it would not really be viable."

PowerTier(TM) enables Fontis iBanking to be fast, reliable, easy-to-use and cost effective, without the need for a batch data processing system. Much of the data such as currency conversions, interest rates and customer accounts are held in the cache and updated in real time. Speed of access is greatly improved as customer account details are loaded during the log-on procedure, making them available to the user in real time.

Leslie Duckett believes Misys-IBS and Persistence Software are like-minded. "The commitment of vendors to the product offering is of major importance to the banking industry. Misys-IBS is committed, as is Persistence Software. We had good support from the team at Persistence Software and we continue to have a very important relationship with them. I would definitely recommend Persistence Software to other companies."

Persistence Software's PowerTier(TM) is based on its DDC technology, which allows upscaling for a large number of users and significantly increases the speed of data throughput. Additionally, Persistence's patented technology synchronises changes to business information among clustered and distributed servers, guaranteeing current data to each end user. PowerTier(TM) also provides critical, customisable and versatile interfaces that make data easily accessible and include allowances for different customer requirements, multiple language, currency and payment conventions.

"This contract with Misys is a real life example where business decision making is occurring at the edge of the enterprise," said Chris Keene, CEO, Persistence. "Much has been written about real-time enterprises and highly distributed applications, however, few companies are able to provide specific examples. The financial services sector represents a real opportunity for Persistence, as the need for business critical information is a must. A dynamically updated and synchronised cache such as PowerTier(TM) provides this depth of information."

About Misys

Misys is the world's leading supplier of IT solutions and services to the banking industry. Through its Banking and Securities Division Misys has developed a series of international banking systems designed specifically for particular sectors of the market. E.g. Risk Vision for risk management, Midas for international banking, Opics for treasury and capital markets, and Equation for retail banking.

Fontis iBanking is written in C , Java and runs on Sun Solaris processors.

About Persistence

Persistence Software provides a data infrastructure that brings vital business information to global decision-makers without the expense of replicated data centers. Global 3500 corporations can cost-effectively deliver vital information to professionals throughout the enterprise so actions can be taken to streamline business processes; improve supply chain management; boost employee productivity; enhance customer relationships; and heighten levels of customer satisfaction. Persistence's innovative product family provides the best quality user experience by maintaining data integrity and accuracy at multiple levels throughout the enterprise without replicating databases. Customers of Persistence experience greater access to accurate information, quicker response times, improved productivity and increased scalability, all for less cost than was previously possible. Persistence is the supplier of choice for Fortune 2000 companies who have complex, data-intensive applications that must support real-time decision making in many locations. Persistence Software's technology has been licensed to Cisco, Intel and Sun, and customers include Reuters Instinet, Sprint, Federal Express, JP Morgan, Sabre, and Applied Biosystems. Persistence Software is headquartered in San Mateo, California. Please visit http://www.persistence.com for more information.