London, 5th December 2001. Qatar National Bank (QNB), Qatar’s largest bank, has recently signed a multi-million dollar contract with Misys International Banking Systems for the supply of a comprehensive new banking solution based on the company’s Equation retail banking platform in conjunction with Misys’ departmental treasury system, OPICS.
QNB controls assets representing 48% of the Qatari banking system. In addition to its dominant role in Qatar, QNB has a substantial international reputation, being ranked 10th amongst all the Arab banks. The acquisition of the new systems are specifically in support of the bank’s stated goals across its business portfolio. These include further automation in its key lending and associated risk management activities, plus enhanced customer service and relationship management in QNB’s private and retail banking activities. Another objective is QNB’s ability to expand its leading range of treasury products still further, whilst continuing to increase profitability.
The selection of the Misys solution was finalised after extensive in-depth analysis. The key components include Equation, together with the system’s Branch Automation platform, Trade Innovation to support international trade finance transactions and OPICS treasury components. Misys’ recently launched WebForm intranet-based reporting tool will be used to enhance reporting, budgeting and MIS facilities. Misys’ Meridian middleware platform will be used to integrate external systems.
Marwan Marouf Mahmoud, Assistant General Manager – IT, of Qatar National Bank commented, "One of the reasons the Misys solution was chosen is the company’s implementation track record and its commitment to the GCC (Gulf Co-operation Council) market. Among the key factors that were taken into considersation was the comprehensive coverage of the overall solution and its open architecture, which will allow our existing delivery channels to be easily and reliably integrated, and new services and channels added in the future."
Alan Prior, General Manager of Misys’ Middle East operations based in Dubai added, "We are very proud to have the opportunity to work closely with Qatar’s largest bank in implementing the latest generation of the Equation banking platform."