LONDON, December 20, 2010 /PRNewswire/ -- Misys, the global application software and services company, has today announced that it has recently signed an agreement to deploy an integrated BankFusion Universal Banking solution. This will cover the retail banking, trade finance and treasury functions at the Co-operative Bank of Kenya Limited.
Publicly listed on the Nairobi Stock Exchange, Co-operative Bank of Kenya has licensed the functionally-rich flexible solution from Misys in line with the bank's strategic plans to increase its product portfolio, enhance the quality of services, and expand the bank's market share. The new agreement is an important milestone for Misys as it marks another large-scale sale and implementation of BankFusion Universal Banking in East Africa.
Co-operative Bank of Kenya, which has been a Misys client for the past 15 years, was looking for a solution to automate the majority of the bank's consumer, corporate and treasury operations and drive efficiencies. The innovative technology will enable the bank to use new channels to reach more customers.
"This project is an important breakthrough for Misys as it provides momentum for our ongoing expansion program in the East African markets," states Roy Froud, Director - Middle East & Africa, Misys. "We have been a partner to Co-operative Bank of Kenya for many years and we are pleased that they continue to be satisfied with our solutions and services. The new Misys solutions being implemented will be crucial in helping the bank in its plans to expand its product portfolio and widen its market share in the country and across other African markets."
Gideon Muriuki, Group Managing Director & CEO, Co-operative Bank of Kenya, added: "With its impeccable track record in providing high-performance technology solutions, we are confident that Misys will help us achieve our growth objectives. We will now be able to introduce new products rapidly and boost our capabilities in areas such as business intelligence and automation of our trade finance and treasury operations. We will also be counting on Misys to provide the technological support needed to expand our presence across more market segments not just in Kenya, but across the region."