LONDON, October 30 /PRNewswire/ --
- Adoption of e-Business System Gives Bank of the West Optimal Front-End Support
Misys, a global leader in banking application software and services, today announces that Bank of The West has gone live with Misys' front-to-back solution for trade finance, Misys Trade Portal and TI Plus. The integrated end-to-end solution gives Bank of the West unrivalled functionality across the whole of its trade finance business supporting the bank's expansion plans and strengthening its day to day processing operations.
A leading regional commercial bank, with over $63bn in assets, Bank of the West is the second largest bank headquartered in California. Bank of the West has branches in 19 states and employs approximately 11,000 staff, including in its trade processing center in Los Angeles. The bank provides a range of deposit, credit, insurance and investment products and services across commercial banking and regional banking, including National Finance.
Bank of the West evaluated solutions from several companies and chose Misys Trade Portal for its advanced capabilities and proven record in trade finance. In the highly competitive banking environment, the enhanced functionality offered by Misys Trade Portal will give Bank of the West unrivalled levels of efficiency and client service, giving clarity and improved options for follow up and value-add to clients.
Dennis Bartz, SVP, Trade Finance at Bank of the West, commented, We have benefited from Misys Trade Innovation since 2000, and the upgrade to TI Plus coupled with the addition of Misys Trade Portal enables us to improve the results we deliver to our customers still further. By continually enhancing our trade finance operations we can continue to deliver results to our clients as a first-class provider.
Susan Feinberg, Senior Research Director, Wholesale Banking, TowerGroup, states, As banks look to develop new trade solutions, it is important that they consider the needs of both their corporate clients conducting open account cross-border trade and those clients looking to automate and enhance the financial supply chain for domestic B2B commercial activity. As we approach the next decade, TowerGroup expects trade and supply chain finance solutions to be at the forefront of the offerings that banks provide to their corporate clients.
Bank of the West's decision to implement our Misys Trade Portal solution is an excellent validation of both the strength of our working relationship and the quality of our solutions, added Olivier Berthier, Solutions Director, Transaction Banking, Misys. We are now the bank's single provider of its front and back office trade finance systems, which translates into improved operating efficiencies, better functionality and improved client-facing services for the bank.
Misys has built a vast amount of knowledge and expertise in the trade finance and financial supply chain market, with award-winning solutions from the front office through to the back office, as well as the first and most advanced SWIFTNet Trade Services Utility (TSU) enabled solution. This experience in both traditional trade instruments as well as Open Account-based transactions enables Misys to add real value to customers and continue to lead the innovations in the market.
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 plc owns a controlling stake in Allscripts-Misys Healthcare Solutions, Inc (NASDAQ: MDRX) a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 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
About Bank of the West
Founded in 1874 and based in San Francisco, $63.7 billion-asset Bank of the West (http://www.bankofthewest.com) is the second-largest commercial bank based in California. Bank of the West offers a full range of corporate, business, trust, international and personal banking services, including syndication of larger corporate loans. The bank currently operates more than 700 banking locations in 19 Western and Midwestern states. Bank of the West's holding company BancWest Corporation is a subsidiary of BNP Paribas, a global financial institution and one of the world's three most highly-rated banks, according to SP.
For further information please contact Edward Taylor Global Head of Public Relations Misys Banking Systems +44(0)20-3320-5530 email@example.com Sebastian Mathews Financial Dynamics +44(0)20-7269-7158 firstname.lastname@example.org
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys Banking Systems, +44(0)20-3320-5530, email@example.com; Sebastian Mathews, Financial Dynamics, +44(0)20-7269-7158, firstname.lastname@example.org