LONDON, December 10 /PRNewswire/ -- Misys (FTSE: MSY.L), the global application software and services company, announced today that AB Bank Limited, the first private sector bank of Bangladesh, has gone live with Equation 3.8.2 and Misys Trade Innovation.
The integrated solution from Misys will underpin the bank's restructure and will centralise processes, bring automation and enhance customer service throughout the 70 domestic branches and foreign branches in India.
The bank has seen sustained growth since forming and recently completed its silver jubilee in August 2007. It needed to remove some of the legacy systems and centralise on a single solution to update the business processes at the bank and bring more value to its consumer and corporate customers.
Mr. Reazul Islam, CIO of AB Bank, comments, "Because of the speed at which we have grown over the last two and a half decades, we have many separate functions and departments within the bank. This impedes the speed at which we can respond to our customers' needs and bring new products and services to market. We have worked closely with Misys and have benefited from their experience and market-leading solutions. We now have a single centralised solution that will bring automation and structure to our business processes. We will be able to continue to maintain our competitive edge and remain a leader in innovation in the banking community."
AB Bank's burgeoning trade finance business has also contributed to the growth of the bank. To facilitate cross-border trade and payment-related services, the bank has correspondent relationships with over 220 international banks of repute across 58 countries. By installing Misys Trade Innovation at the centre of the operation, the bank is now able to streamline the entire transaction lifecycle and the overall workflow of the trade finance operation, improving operations even further.
"Automation is playing a vital role in AB Bank's future," adds Dermot Briody, Head of Sales Asia, Misys Banking. "All the bank's branches have been brought under a single network, underpinned by the latest version of Misys Equation Branch Automation, and the trade finance function has been greatly enhanced with Misys Trade Innovation. Our world-class solutions and excellent professional services team will make sure that the bank's clients see not only a consistency of quality in the financial products and services provided to them, but an improvement in the whole customer experience."
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys is a market leader, serving more than 100,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: http://www.misys.com
For further information please contact Edward Taylor Global Head of Public Relations Misys Banking +44(0)208-486-1661 edward.taylor@misys.com Caroline Parker Financial Dynamics +44(0)207-269-7295 caroline.parker@fd.com
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys Banking, +44(0)208-486-1661, edward.taylor@misys.com; Caroline Parker, Financial Dynamics, +44(0)207-269-7295, caroline.parker@fd.com
Comments