The bank extends relationship with Misys broadening the capabilities and breadth of products in its treasury operations and increasing throughput and usability with Opics Plus
17 January 2007 - Misys Banking Systems, a global leader in banking software and solutions, announces today that Philippine Veterans Bank (PVB) has successfully implemented Misys Opics Plus in record time. With the rapid three-month implementation, the bank has expanded the range of products it can offer its customers and has broadened the functionality of its treasury operations.
PVB provides a wide range of services to its customers, including foreign exchange, treasury, domestic and foreign funds transfer. The management team at PVB chose to upgrade to Misys Opics Plus to bring additional functionality to the bank and the ability to offer its customers an expanded range of products. The Misys Banking Systems team has already completed the first implementation phase, going live with FX, fixed income, deposit & loans, nostro and cash management, and multi currency accounting modules.
Misys Opics Plus is the latest evolution of Misys Opics, based on an n-tier, .NET architecture. The bank is already seeing the benefit of using Opics Plus for its foreign exchange transactions and the team is planning a further roll out to cover FX futures and swaps. With Opics Plus the bank is able to process higher volumes of transactions and to support more complex instruments to support the PVB's growing business. The next phase of implementation will also see further modules of Misys Opics Plus in use, including analytics and customer credit.
"We are very familiar with the high standard of the products and service that Misys Banking Systems provides," adds Joric Nazario, SVP and Treasurer, Philippine Veterans Bank. "We had every confidence that the team would be able to upgrade to Misys Opics Plus at the pace we wanted and with no disruption to the business. The professionalism and commitment of the team ensured that the implementation project was a success. We look forward to gaining the benefits of using the superior solution and continuing to work with Misys in the future."
"Over the course of several years, we have been able to provide quality products and exceptional service to the bank through its use of Misys Equation and Misys Opics," comments Neil Lopez, Services Delivery Manager, Misys Banking Systems. "The bank needed to upgrade to the latest solution to enable its treasury department to remain at the cutting edge of innovation and the executive team knew that they could rely on us to ensure a successful and rapid implementation of the newest version of Misys Opics Plus. We have had great interest from Asian financial institutions in the advance capabilities of the solution. PVB is at the forefront of that market and we are delighted to help it maintain that position as an innovator in the region."
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For further information please contact
Edward Taylor
Global Head of Public Relations
Misys Banking Systems
+44 (0) 208 486 1661
edward.taylor@misys.com
Caroline Parker
Financial Dynamics
+44 (0)207 269 7295
caroline.parker@fd.com
About PVB
Philippine Veterans Bank (PVB) is a private, commercial bank with 45 branches around the country. As of December 2006, PVB's total assets stood at PhP 29.6 billion, making it the 22nd largest commercial bank in the country in terms of total assets. PVB's total capital funds were at PhP 4.2 billion. The Bank's latest reported capital-adequacy ratio, a measure of a bank's capacity to shoulder risks, was 29.57% (November 2006), one of the highest in the industry and way above the BSP requirement of 10%.
PVB is unique in many ways. One, about 300,000 Filipino World War II veterans & their heirs are its registered owners. Two, twenty percent (20%) of its net income is given yearly to the veterans via projects that benefit their welfare. This includes the VFP Out-Patient Center and the VFP War Museum & Archives, both in Taguig, Metro Manila.
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in more than 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 2,500 people around the world and sales, implementation and customer support teams in nearly 30 countries. One third of the world's commercial loans, half of traded loan volumes and one in every eight global FX transactions are conducted using Misys systems. Misys Banking Systems is part of Misys plc.
About Misys plc
Misys plc (FTSE: MSY.L), the global software and solutions 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 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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