LONDON, March 30 /PRNewswire/ -- Misys plc (LSE: MSY.L), the global application software and services company, today announces that the Retail Banking Division of Societe Generale has selected Misys Almonde to reinforce its risk, margin simulation and monitoring capability.
Societe Generale chose the Misys Almonde Asset Liability Management (ALM) and Funds Transfer Pricing (FTP) solution to establish an integrated system that is able to both run simulations and report on FTP, internal margin and Risk Management.
The choice of Misys Almonde has been made after a highly rigorous selection process reviewing all the major software vendors in the ALM and FTP markets and included several weeks of functional testing on real production volumes. Only the Misys Almonde solution passed all the tests successfully both on functional and technical aspects.
Misys Almonde combined ALM and FTP simulation as well as risk monitoring. It will provide the Societe Generale retail network with the ability to weigh the various risks according to their costs thanks to the additional use of the Misys ALM Portal.
Our needs were to have a solution for managing state of the art Balance Sheet simulation as well as Risk and Margin monitoring, said Antoine Alexis, Head of Profitability Analysis, Actuary and ALM at Societe Generale. When cost of funding becomes too expensive in financial markets, it is essential for the Societe Generale Retail Banking Division to rely on a solution that will help our network to optimise our Balance Sheet management.
The Misys Almonde solution is the only offering in the market that is able to cater for our existing processes for internal Risk Management and FTP monitoring. Additionally, the structure of the Misys Almonde ALM solution enables us to acquire and maintain control easily. We will be able to significantly reduce the current level of manpower dedicated to administration, which will allow us to focus on various simulations of our risks and margins, concludes Julien Delbet, Head of ALM, Retail Banking at Societe Generale.
We are delighted with this additional collaboration with Societe Generale. The choice carried out by such a major player in the global banking environment validates the functional richness of our ALM and FTP solutions base on a robust, easy-to-implement and easy-to-use technical platform, comments Olivier Berthier, Managing Director of Misys France.
Data management in Misys Almonde and Misys ALM Portal - including control / validation, enrichment, historical storage and restitution of both imported data and results - is thorough and complete. The solution also allows a wide and exhaustive range of financial modelling. Furthermore, the capacity to separate the functional and technical areas of operation, in order to resolve issues more easily, is one of the recognised keys to the success of implementing the solution.
The bank's teams will be able to concentrate their efforts during the project phase on core activity and not on the data-processing or volume handling issues. This will allow rapid production of the required Risk Management indicators essential for monitoring the retail network despite the high volumes of several tens of millions of contracts, confirms Olivier Berthier.
About Misys plc
Misys plc (LSE: 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 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.
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For further information please contact Edward Taylor Global Head of Public Relations Misys Solutions for Banking +44(0)20-3320-5530 firstname.lastname@example.org Sebastian Mathews Financial Dynamics +44(0)207-269-7158 email@example.com
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys Solutions for Banking, +44(0)20-3320-5530, firstname.lastname@example.org; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158, email@example.com