Offshore banking is unique. Its autonomous nature requires banks to provide the products, services and capabilities of major international banks without the benefit of a big bank’s operational infrastructure.

Client Demands

Offshore banks operate on fine margins and are dealing with a most demanding client base - higher net worth individuals, professional firms of lawyers and accountants, trust and insurance companies, offshore fund managers and captives. Competitive products, and customer-oriented service with international reach are mandatory requirements.

Misys can help you strip out cost, drive efficiencies, meet new compliance regulations and improve customer service levels. With almost three decades as the leading international banking systems vendor, it is no wonder that offshore banks from the Channel Islands to Bermuda, from the Isle of Man to the Caribbean, bank on Misys.

The three strengths of Bankmaster for the offshore banking market can be summarised as follows:

Confidence

Bankmaster is a single system, expressly constructed to address the business of offshore banking. One of the most widely deployed banking systems in the world with more than 200 clients, Bankmaster is stable, robust and proven. It supports a wide range of banking functionality, including international payments, securities brokerage, investment management, document imaging, Anti-Money Laundering and Know-Your-Customer, current and forthcoming regulatory reporting and a strong customer management capability including relationship management and full Internet banking. Customer data is held locally to increase client confidentiality.

Simplicity

One solution from one supplier means simplicity, both commercial and technical. That simplicity, in turn, lowers risk and reduces the time taken to achieve a strong return on investment. Straight-Through-Processing increases efficiency, tight controls reduce risk and customer centricity improves customer service. Whether you have a strong or an entirely non-existent IT operation, Bankmaster provides better customer service, higher staff productivity and a lower cost of operation. All this in a system that is genuinely intuitive to use, and easy for staff to learn and understand.

Speed

Usually implemented in just 3 to 6 months, depending on the specific complexities of a bank’s operating environment and the conversion strategy chosen, Bankmaster rapidly delivers a return on your investment. And because the implementation includes full training for your staff you can continue to enhance your solution long after the original implementation has finished.

For more information about how Misys can you create sustainable competitive advantage in Offshore Banking, please click here .