London, 6 September 2005 - Misys Banking Systems has today announced that Bank Danamon in Indonesia has gone live with Misys Summit FT - the .NET smart client version of Misys Summit, its market leading treasury and capital markets solution. Misys Summit FT handles all the transaction management requirements across Bank Danamon's operations helping the bank to significantly expand its treasury and capital markets operations, particularly in the lucrative structured products market.
The bank, which is majority owned by Singapore-based Temasek Holdings, is the first customer in Asia to go live with Misys Summit FT. The 64-user system has been deployed at its headquarters in Jakarta, Indonesia and includes the latest technology for trading and processing interest rate derivatives, credit derivatives, fixed income, treasury and equity transactions. The single solution spans all parts of the bank from back office through to the front office, including trading, risk management and issuance, and all operations through to settlement.
Bank Danamon also needed a solution that could handle highly complex instruments and structured deals with multiple cross-asset underlyings. Particularly, Misys Summit FT's proven capability in popular Asian products such as Power Reverse Dual Currency (PRDC) swaps, multi-callable dual currency range accrual swaps and multi-currency equity best-of-performance linked notes were critical in the agreement. Misys Summit FT was able to handle these without the need for additional custom programming.
Misys Summit FT uniquely exploits the latest Microsoft smart client technology, .NET, to provide a flexible, real-time trading environment. It offers users the power to personalise their individual workspace - specifying the contents, arrangement and behaviour of each view. These composite pages can include any Misys Summit applications as well as external applications such as Microsoft Excel, Internet Explorer or report writers, such as Crystal Reports.
The Misys implementation team worked closely with the bank's staff to ensure that Misys Summit FT integrated seamlessly with the existing mission-critical applications, such as Reuters 3000 and Bloomberg Trading System. Misys Summit FT maximises the personal productivity of both the traders as well as the back office staff at Bank Danamon, producing all the necessary real-time data, risk reports and calculations needed for the best business decisions in the fastest time.
Theresia Tristini, VP, Information Technology at Bank Danamon comments, "Misys Summit FT has given us the world-class tools to enable our traders to keep ahead of the market. We can now innovate faster and increase our margins on complex products as well as reduce our IT infrastructure costs and increase operational efficiencies with faster processing of vanilla, high volume trades. We look forward to working closely with Misys and emulating the success here in other Asian countries."
Alan Railton, Sales Director, Treasury and Capital Markets for Misys Banking Systems in Asia, adds, "Flexibility, speed and accountability are crucial to treasury and capital markets participants. We have a first-class product in Misys Summit FT and we are very pleased to be able to provide Bank Danamon with the right solution for its continued success and expansion plans."
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For further information please contact:-
Edward Taylor
Financial Dynamics
+44 (0)20 7269 7295
edward.taylor@fd.com
Suzanne McLaughlin
Global Marketing Communications Manager, Treasury and Capital Markets
Misys Banking Systems
Tel: +44 (0) 20 7549 4710
Email: Suzanne.mclaughlin@misys.com
Irawati Koswara-Simms
Vice President
Head of Corporate Communication & Affairs
PT. Bank Danamon Indonesia, Tbk.
Tel: +62 21 5799 1001
Email: irawati.koswarasimms@danamon.co.id
About Bank Danamon
Established in 1956, PT Bank Danamon Indonesia Tbk (Danamon) is the second largest private national bank and the fifth largest commercial bank in Indonesia, with a 5% share of the domestic system loans and deposits. Danamon has one of the widest geographic distribution network of banks with over 500 branch offices, 790 ATMs and is well-supported by more than 19,000 employees. Danamon is recognized as one of Indonesia's leading SME and consumer bank and also serves corporate and institutional customers across Indonesia.
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 90% of the world's top 50 banks (Source: The Banker, July 2004), with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries. Misys Banking Systems is part of Misys plc.
About Misys in Treasury and Capital Markets
With over 650 employees, the Misys specialist Treasury and Capital Markets team supports nearly 300 customers in 70 countries. With Misys Summit, Misys Opics and Misys Loan IQ, Misys delivers an extraordinary mix of coverage and focus with a unique combination of global experience, local knowledge and an unrivalled understanding of the specific needs of this fast moving market.
Misys Summit is a market leading multi-asset class solution offering unsurpassed breadth and depth of coverage. It mixes sophisticated trader tools, risk management, workflow and real-time trade processing; helping financial institutions improve trading, increase STP and cut costs. Continuous innovation in financial technology and leading-edge tools has led it to be voted the top system in Risk Magazine's Technology Rankings 2004.
About Misys plc
Misys plc (FTSE: MSY), the global software company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries and the UK general insurance industry, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is one of the top four software providers worldwide and the largest outside the US, with over 1,200 customers, including 90% of the world's top 50 banks. In healthcare Misys is a top five software provider in the US market, serving more than 92,000 physicians in 18,000 practice locations, 1,250 hospitals and 600 home care providers. In UK general insurance Misys is the market leader in software solutions. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to over 8,000 financial advisers in the UK. Misys employs over 6500 people who serve customers in more than 120 countries. For more information, visit www.misys.com
Misys. Making things that really matter, work better.
