London, 4 February 2005 - Misys Risk Management Systems announced today that Stanbic Africa, a division of The Standard Bank of South Africa Limited, has selected Risk Vision, the advanced solution for enterprise wide risk management to provide a continent-wide platform to monitor their market and credit risk in their African operations outside of South Africa.
Stanbic Bank is one of Africa’s leading banking and financial services groups with operations in Botswana, Congo (DRC), Ghana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Swaziland Tanzania, Uganda, Zambia and Zimbabwe.
Misys Risk Management Systems’ Risk Vision was chosen following a competitive tender with all known risk vendors. The solution is the first of its kind to be implemented at Stanbic across 15 African countries. The new system will integrate with the other Misys systems used by the bank, including Bankmaster and Citydealer.
“Our need to improve the quality of our risk management function on an enterprise wide basis prompted us to review several risk management systems. Risk Vision will significantly develop our risk management capabilities and this investment will provide a far more business enabling risk management environment in our growing African franchise,” comments Bob Norval, Director Risk Management, Stanbic Africa. “In addition, Risk Vision will enable us to capitalise on a number of potentially profitable new product opportunities.”
Michel van Leeuwen, CEO, Misys Risk Management Systems explains, “We’re thrilled with the partnership with Stanbic, the first of its kind in the African market. It exemplifies the continued advancement of Misys Risk Management Systems and the best of breed enterprise risk management solutions that we provide.”
For further information, please contact:
Misys Risk Management Systems
+44 (0)20 8879 1188
risk.marketing@misys.com
About Misys Risk Management Systems
Misys Risk Management Systems, part of the Banking and Securities Division of Misys plc, is focused exclusively on the provision of enterprise wide risk management solutions. Its portfolio of functionally rich and highly flexible solutions supports real time global limits and exposure management, Basel II, ALM, operational risk and economic capital.
Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries. Through a wholly owned subsidiary, Sesame, it also provides business process outsourcing services to independent financial advisors (IFAs) in the UK. Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs over 6,000 people internationally.
About Stanbic Bank
Stanbic Bank is part of one of Africa's leading banking and financial services groups, Standard Bank Group Limited, which is based in South Africa and listed on the Johannesburg Securities Exchange.
Rooted in Africa and with representation in strategic sub-Saharan markets, Standard Bank is a regional banking force with a global emerging markets footprint. With total assets of about US$81bn and employing about 35 000 people worldwide, Standard Bank has the largest presence in Africa of any South African or African bank.
Its network spans 16 African countries and extends to 21 countries on other continents, including the key financial centres of UK, Europe, United States, South America and Asia. In addition to banking, Standard Bank has a strategic interest in the insurance industry through its control of the Liberty Group, one of Africa's leading life offices and financial services groups.
The group has one of the biggest single networks of banking services in Africa. Through this network they offer a wide range of banking products and services, which are delivered through more than 1 000 points of representation. They are active in international and cross-border transactions and in those areas liaise closely with Standard Bank Corporate and Investment Banking and Standard Bank London.
