Multi-channel front-office solution to provide UK and international clients with an improved quality of service
London, 4 May 2005 – Misys Banking Systems (Misys) is pleased to announce that British Arab Commercial Bank (BACB), a leading provider of trade & project finance and international payments services for Arab markets, has chosen Misys eServices Platform Corporate and Trade Editions to launch an eBanking service for corporate and institutional clients in the Mediterranean region. The solution will also enhance the service it is able to offer UK-based customers.
The Misys eServices Platform solution is a multi-channel front-office solution that allows corporate customers and correspondent banks in the region to manage their global finances via a secure, web-based solution. For the first phase of the project, BACB will rollout out Misys eServices Platform Corporate Edition, which will enable clients to use comprehensive cash management facilities within a multi-currency, multi-lingual framework. It gives the bank the ability to strengthen customer relationships by offering services such as online banking and on-demand access to account data, complementing and ultimately replacing the existing system in use by BACB’s UK corporate customers. Clients will also benefit from drill-down functionality to facilitate timely query resolution.
BACB says they chose the Misys eServices Platform solution in recognition of the growing demand for eBanking services in several of the bank’s core markets. “The Misys eServices Platform solution allows us to build further on the service advantage that we already seek to provide for both corporate and institutional clients. The credibility of the platforms was also a key driver in our decision to work with Misys, coupled with their commitment to work closely with us to ensure that we meet our target to introduce key elements of this service in the current year.”
Andrew Hebron, Head of Products for Wholesale Banking Solutions at Misys, says BACB can also streamline the service they currently provide to the corporates and correspondent banks by using Misys eServices Platform Corporate Edition. “By deploying this solution, BACB can provide a richer level of service and higher quality of information. Its own STP and that of the corporate customers and correspondent banks can be improved at the same time as reducing the cost of supplying this service.”
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For further information, please contact:
Edward Taylor / Andy Field
Financial Dynamics PR
+44 207 269 7295
firstname.lastname@example.org / email@example.com
Head of Marketing & Business Planning, Misys Wholesale Banking Systems
+44 (0) 208 486 1772
About Misys eServices Platform
Misys eServices Platform is a multi-channel front-office solution that provides banks with a common front-end for transacting with their customers across multiple channels. The solution is powered by the S1 Enterprise Platform, a solution delivered by S1, a leading provider of enterprise software solutions to more than 4,000 banks, credit unions and insurance providers.
The solution provides services such as account management, information reporting, cash management, trade finance and investments across automated full service and self-service channels, all through a single web-based system.
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.
Established in London in June 1972, BACB is a leading provider of trade and project finance for Arab markets. Building on a successful track record in the Arab Mediterranean region, market coverage has expanded steadily in recent years, and the bank is now able, through its association with HSBC Bank Middle East, to handle business throughout the Gulf. Drawing on its wide correspondent banking network and the knowledge of its shareholders, BACB transacts business in Arab Mediterranean countries, the UK and the Middle East.
The bank's largest single shareholder is HSBC Bank Middle East, a principal member of the HSBC Group. The group is one of the world’s leading banking and financial services organisations, with about 10,000 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. BACB's other shareholders comprise Central Banks and major commercial banks from the Arab world.
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