Misys offers solution to centralise trade finance operations [CPI Financial]
(CPI Financial Via Acquire Media NewsEdge) Financial services software solutions provider Misys has announced plans to start offering banks in the Middle East region Global Processing as part of its trade finance processing solution, TI Plus.
The Misys Global Processing functionality has already been licensed by five leading banks in the region including ING, National Bank of Abu Dhabi and Qatar National Bank, amongst others.
Misys TI Plus Global Processing works by centralising disjointed local systems, offering an integrated standardised platform that allows the retention of local customer services yet provides central management of trade business; improving visibility and speeding up the roll out of new services. The solution from Misys thus, says the company, provides the opportunity for more robust Service Level Agreements (SLAs) to be offered to customers.
The enhanced functionality also permits banks to distribute workload, allowing improved management of resources. Operating costs may be reduced by basing trade finance teams in cost-effective locations and the central oversight and control of trade finance eliminates silos across regional teams. The standardised international process also enables banks to manage and mitigate operational risk more efficiently as all areas of the bank can operate in broadly the same way.
Steve Walshe, Product Manager for TI Plus Global Processing, Misys said, "The evolution of the banking industry has accelerated the demands to enrich customer service, and reduce operational costs whilst the pressure on improving and standardising operational risk management has increased. Global Processing allows a bank to 'act globally' significantly improving their offering to corporate customers, as well as increasing cost-efficiency and the management of operational risk in-house."
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