Its Shanghai head office optimises workflow and streamlines operations with Misys Opics solution
Beijing - 8th June 2006 - Misys Banking Systems, a global leader in banking software and solutions, announces today that it is implementing its Misys Opics solution at Bank of Communications (BOCOM), Shanghai, one of China's oldest and most progressive banking houses. Misys Opics is being deployed throughout the bank's head office in Shanghai to manage the transaction workflow of treasury trades and to facilitate STP.
The solution is being installed as the bank's central processing tool and is being integrated with existing applications at the bank including its front office trading application. Phase 1 is expected to go live by the end of 2006. A major part of the project at BOCOM is to implement the Workflow Manager option of Misys Opics to consolidate back-office and operations processing, which will manage STP exceptions and improve efficiency at the bank.
Misys Opics provides front to back-office processing for a wide variety of transactions. Specifically for BOCOM the solution will enable the bank to consolidate across a wide variety of instrument types, included Foreign Exchange, Fixed Income, OTC Options, Caps, Collars, Floors and Swap Options, repurchase agreements, deposits and loans, FRAs and futures. Workflow Manager compliments the suite by centralising back-office and operations processing, updating in real-time, and allowing users to define, amend and manage their own workflows and procedures including confirmation matching, hedge accounting and cash management.
Speaking on behalf of Bank of Communications, Shen Shao Zhen, VG of Business Department commented "We are delighted to be expanding the range of our work with Misys Banking Systems. This is an exciting time for BOCOM as the banking landscape in China continues to evolve - we feel it is essential for us to partner with those who best understand our business and whose products will help us continue in our market leading position."
Murray Sargant, Managing Director, Treasury & Capital Markets Asia, Misys Banking Systems, added, "Our Misys Opics solution continues to be one of the most comprehensive and agile systems in the market and we're delighted to be enhancing our relationship with Bank of Communications. The work-flow manager capabilities of Misys Opics give the bank an excellent solution to their STP requirements. The need for fully-functional, front-to-back office software has never been greater for the Chinese banking community as it continues to expand rapidly. Bank of Communications is one of the pioneers of Chinese banking and we look forward to working with them even more closely in what we're sure will be a mutually rewarding relationship".
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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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