Misys eServices Platform Trade Edition integrated with Misys Trade Innovation to realise fully automated front-to-back trade services processing
London / Nørresundby, 7th February 2005 – Misys Wholesale Banking Systems (Misys) is pleased to announce that Nørresundby Bank, the Danish bank, has chosen Misys eServices Platform Trade Edition and Misys Trade Innovation as a packaged front-to-back trade services solution. It has selected the Misys solution to help reduce operational risk, automate processes between the back office and front office and improve straight-through processing (STP) rates.
After a lengthy selection process, which saw the evaluation of a number of solutions, Nørresundby Bank and Bankdata, the data centre providing and managing the bank’s IT services, has chosen the integrated solution from Misys. The solution meets the banks and its customers need for a web-based, fully-automated trade services solution.
The new integrated solution provides a web-based front-to-back solution that covers Letters of Credit, Collections and document preparation. With the integration of trade business from Misys eServices Platform Trade Edition to Misys Trade Innovation, Nørresundby Bank is able to realise fully automated front-to-back processing and true STP, allowing it to increase business volume and customer service levels as well as reduce operational risk. Web-based automation also means that it is able to achieve this without increasing staff numbers, making it more cost effective.
Claus Kongsgaard, General Manager and Head of International Division at Nørresundby Bank, explains: “In response to the increasing demands of our corporate clients for Internet-based trade finance services, we decided to review possible solutions suitable for our requirements and existing IT infrastructure.”
“The Misys solution offered us comprehensive business coverage, flexibility and intuitive workflow management capabilities, all of which would help us to realise improved efficiency and processing speed. With the solution currently being implemented, we are already pleased to see that it is satisfying our corporate clients’ needs at the front-end in terms of easy-to-use, control, flexibility and reporting.”
The solution will be implemented at Bankdata, the bank’s data centre and service bureau, with implementation due for completion in the second quarter of 2005.
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For further information, please contact:
Edward Taylor / Jo Brice
Financial Dynamics PR
+44 207 269 7295
firstname.lastname@example.org / email@example.com
Country Manager, Scandinavia & Baltics, Misys Wholesale Banking Systems
+352 453399 451
Head of Marketing & Business Planning, Misys Wholesale Banking Systems
+44 (0) 208 486 1772
About Nørresundby Bank
Nørresundby Bank was established in 1898 and has a network of 19 branches. The bank’s mission is to offer financial solutions and services to individuals, institutions and corporations in its local territory. Nørresundby Bank is a strong bank building on the principles of high quality customer service, proximity and good business sense.
For more information, visit www.noerresundbybank.dk.
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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