LONDON, January 14 /PRNewswire/ --
- Strategic International Roll-Out Heralds Key Development in Modernisation Programme for Iraq's Financial Services Sector
Rafidain Bank, the largest bank in Iraq, has gone live with a groundbreaking turnkey solution from Misys plc (LSE: MSY), the global application software and services company.
Rafidain Bank's international branches, comprising operations in Jordan, Lebanon, Egypt, Yemen, UAE and Bahrain, have gone live with the new system. Misys' regional partner, B-Plan Information Systems, will now commence roll-out of the system to 147 of the bank's remaining branches across Iraq.
Rafidain Bank is Iraq's biggest bank with a 45% market share, and in excess of 4.5 million accounts. Dating back to 1941, it is one of Iraq's key financial institutions and has led the way in the resurgence of the Iraqi banking sector in recent years. The contract with the Misys / B-Plan consortium to install a core banking and communications system is a flagship project for the re-modelled Iraqi banking sector and comes as the country continues to normalise its financial services. In an increasingly competitive market the implementation of the Misys solution will equip Rafidain with essential tools for developing and expanding its market presence and customer offering.
The solution includes the deployment of electronic clearing systems, Misys Bankmaster and Branchpower and the supporting hardware and communications network across the bank's Iraqi network and also in Beirut, Cairo, Jordan, Abu-Dhabi, Manama (Bahrain) and Sana' (Yemen). The project, which is one the largest of its kind in the world, allows Rafidain to deliver competitive products and an excellent service to its domestic and international customers.
Roy Froud, Misys' Regional Director for the Middle East and Africa, comments, The provision of a functioning and sophisticated banking system is central to the economic development of any country. In the case of Iraq, this service is particularly vital and we are delighted to see our solutions going live for one of the country's leading banks and helping support both its national and international operations. The progression of the roll-out across the Iraqi branch network will give Iraq's banking community a huge boost in its capabilities and its international standing.
Shirko Abid, CEO of B-Plan, adds, The advanced solution and the broad regional experience Misys has built up over the last two decades, coupled with our strong position as a provider of mission-critical turnkey solutions was crucial to the deal. To see it now come to fruition as the network goes live is very gratifying.
About Misys plc
Misys plc (LSE: MSY), 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 NASDAQ-listed Allscripts-Misys Healthcare Solutions, Inc, 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 B-Plan Information Systems
B-Plan is a developer and integrator of software solutions. B-Plan has over 15 years of experience developing and supplying innovative accounting and enterprise resource planning systems to European Healthcare, Police and Private Sectors. 65% of British Healthcare NHS trusts use B-Plan's systems to manage their finances.
B-Plan also implements turnkey Information and Communication Technology (ICT) projects in Iraq. We deliver real value to our Central Government and Private Sector customers by integrating software, hardware and communications systems with an experienced implementation approach. B-Plan employs over 120 people worldwide and has offices in the UK, Ukraine, Iraq and Jordan.
For further information please contact Edward Taylor Global Head of Public Relations Misys Banking +44(0)208-486-1661 email@example.com Sebastian Mathews Financial Dynamics +44(0)207-269-7158 Sebastian.firstname.lastname@example.org
For further information please contact, Edward Taylor, Global Head of Public Relations, Misys Banking, +44(0)208-486-1661, email@example.com; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158, Sebastian.firstname.lastname@example.org