Integration of new Misys front-office application and proven back-office system brings enhanced processing and communications and reduces rejection rates within a single easily implemented solution
London, 7th October 2004 – Misys Wholesale Banking Systems (Misys) has integrated the successful Misys Trade Innovation with the innovative Misys eServices Platform Trade Edition to deliver a highly automated pre-packaged solution designed to support true front-to-back straight-through processing (STP).
With the advent of the Internet, banks are increasingly re-thinking their corporate services strategy. At the same time, trade customers are increasingly demanding faster, more automated, paperless trade services environments. Speed and accuracy are the keys to a bank’s productivity. With this innovation, Misys is delivering the front-office and back-office as one solution for its customers, aligned with their strategic requirements for increased STP.
Misys Trade Innovation is a market-leading trade services solution and the new Misys eServices Platform Trade Edition is a robust, proven, front-office application designed and built for the world’s leading-edge trade companies. The result is two best-of-breed applications in a pre-packaged, out-of-the-box integrated format. It offers financial institutions speed to market through a rapid implementation process.
Misys can now provide financial institutions with an innovative front-to-back trade finance solution to meet their needs. With this pre-integrated solution, banks can give their corporate clients a robust and easy to deploy Internet-based application for the online management of trade finance instruments such as Letters of Credit and their underlying documentation.
The new Misys Trade Innovation adapter technology offers exceptionally strong interfacing capabilities and highly automated transaction processing, enabling banks to map data automatically between back-office and front-office applications and significantly enhance STP. Corporate customers are now able to have access to their trade finance transactions via a web front-end while integrating internal ERP back-end systems with the front-office. Through increased process automation, Misys customers will not only enjoy significant reductions in processing costs but also see reduced demands on resource time.
“Our customers need to be able to monitor the profitability of their trade services activity very closely,” comments Jerry Luckett, Director of Product & Strategy at Misys Wholesale Banking Systems. “Trade finance must be one of the most paper-intensive business areas in wholesale banking. Banks require accurate data management in trade finance and an integrated front-to-back solution can decrease operational risk and cost. Misys can now offer such an out-of-the-box, single, proven solution from an experienced supplier they can trust.”
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For further information, please contact:
Edward Taylor / Jo Brice
+44 (0)20 7269 7295 / 7246
email@example.com or firstname.lastname@example.org
Head of Marketing & Business Planning
Misys Wholesale Banking Systems
+44 208 897 1188
About Misys Wholesale Banking Systems
Misys Wholesale Banking Systems is a trusted provider of innovative technology solutions: over 1,000 employees in 30 offices around the world have built up the domain expertise to deliver world-class solutions with an understanding of local requirements. Misys Wholesale Banking Systems' staff are committed to developing and supporting a product family that embraces trade services, international & regional banking, managed treasury services, capital markets, confirmation matching, continuous linked settlement (CLS), multi-channel banking, commercial lending, FX trading, cash management and financial messaging.
Misys Wholesale Banking Systems is part of Misys plc’s Banking & Securities Division, which serves over 1,200 customers across more than 120 countries worldwide, including 90% of the world's top 50 banks (Source: The Banker, July 2004).
Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries. Through a wholly owned subsidiary, Sesame, it also provides business process outsourcing services to independent financial advisors (IFAs) in the UK. Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs more than 6,100 people internationally. For more information, visit www.misys.com.
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