LONDON, September 14, 2010 /PRNewswire/ -- Misysplc (FTSE: MSY.L), the global application software and services company, today announces that the Finnish financial services company, Pohjola Bank plc, has licensed Misys' trade finance processing and Internet-based delivery solution so it can grow the volume of its trade business.
Pohjola Bank plc (Pohjola) is part of OP-Pohjola Group, the leading financial services group in Finland. The bank provides its corporate and institutional customers with a diverse range of banking, non-life insurance and asset management services, and private customers with an extensive range of non-life insurance and private banking services. Pohjola is experiencing an increased demand for trade finance and evaluated several systems to help it to increase its processing efficiency and workflow while catering for the higher trade transaction volumes.
We chose the solution from Misys because it combines the strength of the back-office processing system, TI Plus, with the excellent online delivery console, Misys Trade Portal, states Tarja Pitkanen, Head of Cash Management and International Services from Pohjola. The fully integrated front-to back solution will contribute greatly to the efficiency of our operation and assist us in maintaining the impressive level of customer satisfaction on which we pride ourselves. Our excellent solutions stand us out from the competition and by implementing the leading trade finance system on the market we are ensuring we keep these standards as high as possible.
Pohjola benefits from using Misys' treasury and commercial lending solutions and this additional agreement brings more integration to the business with the trade finance operations also now being supported by Misys.
We are delighted that we have extended our relationship with Pohjola into trade finance, stated Dermot Briody, Director Sales Europe. The management team has chosen our solution to make sure it delivers on its objective of offering customer-focused, flexible and prompt services. It will now be able to grow its trade volumes, boost efficiency and broaden its revenue streams, while keeping close to its customers and partners through our portal.
Misys TI Plus is a flexible back-office automation system that supports the complete front-to-back trade finance business of banks. The solution includes customizable workflows that provide visibility and control over the entire transaction lifecycle. TI Plus enables banks to define Service Level Agreements for each customer and apply either customer groupings or bilateral agreements for individual customers. It allows images of commercial documents to be scanned and retrieved later during processing, thus reducing paper use and making documents accessible to all parties involved in the processing.
Misys Trade Portal is an integrated online system that enables banks to provide a fully-featured console for connecting customers to the bank over the Internet. Bank customers can process and review their transactions and receive customised news feeds related to their particular industries. Trade Portal provides a multibank architecture that facilitates access to multiple banks and their consolidated transactions. It can handle traditional trade instruments such as Letters of Credit, Collections, Guarantees and Financing as well as the growing open account services based on Purchase Order and Invoice data. In addition to the traditional deployment model within a bank's infrastructure, Misys also offers Trade Portal as a hosted solution maintained in an enterprise-class data centre.
Misys has been delivering market-leading Transaction Banking solutions for over 20 years. Its integrated portfolio of trade finance and factoring solutions are used by more than 180 banks around the world to meet constantly changing market requirements.
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to financial services organisations. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
Misys is a market leader banking and treasury capital markets, with over 1,200 customers, including all of the world's top 50 banks. Misys employs around 3,000 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 financial services industry throughout 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 Solutions for Banking and Treasury Capital Markets +44(0)20-3320-5530 email@example.com Sebastian Mathews Financial Dynamics +44(0)207-269-7158 firstname.lastname@example.org
SOURCE: Misys plc
CONTACT: For further information please contact: Edward Taylor, GlobalHead of Public Relations, MisysSolutions for Banking and Treasury Capital Markets, +44(0)20-3320-5530,email@example.com; Sebastian Mathews, Financial Dynamics,+44(0)207-269-7158, firstname.lastname@example.org