6th December 2005 – Českomoravská stavební spořitelna, a.s. (CMSS), the Prague-based bank, has chosen ORC (Operational Risk Center) from the portfolio of Misys Banking Systems solutions to enable it to control operational risk. The solution was developed in association with and used by Germany’s leading financial institutions and will be delivered by Misys and its partner Interexa. It will be implemented across the whole bank, replacing its current internal system.
This platform independent application will allow CMSS to control and manage its operational risk profile and comply with the latest regulatory regimes, including Basel II.
The major benefit of ORC is the vast flexibility it demonstrates. Its innovative data model and user interface allows it to be extended and tailored for ever-changing banking requirements with little or no programming effort.
Michel van Leeuwen, Risk Management CEO, Misys Banking Systems comments, "Basel II encourages similarly high standards for the management of operational risk as it stipulates for credit and market risk. ORC is a solution developed by banks for banks and has become the de facto solution for operational risk control and management in Central & Eastern Europe. This unique endorsement, combined with Misys trusted global implementation capabilities, allows us to provide valued customers like CMSS with a proven operational risk solution and an unparalleled level of risk management experience and support worldwide."
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 49 of the world's top 50 banks, 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 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 49 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
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