Beijing - 17 May 2006 - Misys Banking Systems announces today that China Bohai Bank, China's newest bank, has gone live with Misys Opics and its risk management module, Misys Opics Risk. Misys Opics introduces a high degree of automation and reduces the cost of processing complex transactions, while Misys Opics Risk brings market-leading risk management capabilities to the bank.
Since going into operation, the bank's system has achieved straight-through processing of treasury operations from front-to-back office, improving the levels of automated business processing. The system can implement cash flow and interest rate sensitivity analysis and risk value analysis on foreign exchange, money market, securities and derivatives transactions. Market risks are monitored in a timely and comprehensive manner, greatly improving the bank's risk management capabilities.
The bank was established in the Bohai area in February 2006 and is expected to expand aggressively with plans to open branches in the Yangtze River and Pearl River deltas in 2007. Using Misys Opics, the bank will be able to run highly flexible front, middle and back office treasury functions which will allow fast growth and a high level of functionality.
Chief Information Officer of China Bohai Bank,Mr. Liu Zheng Quan, is excited about the prospects for the bank. "We have very dynamic plans for this bank and need robust, state-of-the-art treasury systems to help us drive growth. Misys Opics has already made a real impact in China's banking market and most of the leading players here have adopted the system. We like the fact that it is proven in the market and will easily link in with Vanda's Core Banking and Reuters dealing networks. We want to be able to do business right across this range of systems whilst growing quickly and Misys Opics allows us to do this."
Murray Sargant, Managing Director, Treasury & Capital Markets Asia, Misys Banking Systems adds: "This is the tenth Chinese bank that has signed up to use Misys Opics which is evidence that we are fast gaining a great reputation in the region. Many of these banks are set to grow quickly in the next five to ten years and we are delighted that so many of these banks have chosen to base that growth on Misys products."
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For further information contact:
Deborah Choong
Marketing Manager, Treasury & Capital Markets - Asia
Misys Banking Systems
+852 2230 2302
deborah.choong@misys.com
Edward Taylor
Global Head of PR
Misys Banking Systems
+44 (0)20 8486 1661
edward.taylor@misys.com
Caroline Parker / Dan Davies
Financial Dynamics
+44 (0)20 7269 7295
caroline.parker@fd.com / dan.davies@fd.com
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, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to about 7,800 financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com
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