London / New York, 25th April 2005 – Misys Banking Systems (Misys) is pleased to announce today that JPMorgan Chase & Co., one of the world’s largest financial services firms, has selected the Misys Loan IQ solution to process its commercial loan trading and agency servicing businesses. In addition, Misys Loan IQ has been chosen by JPMorgan to become its future commitment recording system.
The solution will be deployed across JPMorgan Chase’s major operational centers in New York, Chicago, London, Houston and Delaware over the next 12 to 18 months. Future plans also include a roll-out to the bank’s Asia Pacific operations.
The roll out of Misys Loan IQ across the bank will provide a comprehensive tool that will provide deal tracking, loan trading, deal processing, and administration, and record maintenance, among other functions.
Daniel McDonagh, Managing Director Global Credit Risk Management Operations at JPMorgan Chase, explains: “As a result of our merger with Bank One, we needed a functionally robust loan and agency management solution that would consolidate our efforts across the bank. We already had experience of Misys Loan IQ from within JPMorgan Chase, and after an evaluation, we felt it had the greatest functionality for our needs.”
Andrew White, CEO at Misys Wholesale Banking Systems, comments that with multiple lenders, multi-tiered deals and major complexities, loan investment and syndication is a daunting business. “Some of the world’s largest enterprises are intimately familiar with the power of Misys Loan IQ to transform a cumbersome chain of events into a streamlined, controlled process. The result helps them achieve greater upside and improved client service. Building on our success in working alongside JPMorgan Chase, we look forward to working with the team there as Misys Loan IQ is rolled out.”
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For further information, please contact:
Edward Taylor / Jo Brice
+44 (0)20 7269 7295 / 7246
firstname.lastname@example.org or email@example.com
CEO, Misys IQ, Misys Wholesale Banking Systems
+1 877 240 4737
Head of Marketing & Business Planning
Misys Wholesale Banking Systems
+44 208 897 1188
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 90% of the world's top 50 banks (Source: The Banker, July 2004), 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 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.
About JPMorgan Chase
JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, J.P. Morgan Chase & Co. has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available on the Internet at www.jpmorganchase.com.
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