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Banca Popolare di Milano implements Misys OPICS to improve operational efficiency and reduce costs

London, 28th April 2004 - Banca Popolare di Milano (BPM) has implemented OPICS, the treasury, derivatives and capital markets solution from Misys Wholesale Banking Systems (Misys), for its subsidiary in Dublin. OPICS has been installed at Engitech, who provide facility management services to BPM Ireland Plc, where the bank has no IT infrastructure. The bank went live with OPICS in January 2004, following less than 4 months of implementation.

The OPICS implementation has brought control of the bank's accounting functions
in-house, rather than having them in the hands of an external provider. By using OPICS, BPM aims to reduce the manual effort and complexity currently involved in management accounting, and to achieve more sophisticated reporting through OPICS' provision of flexibility and real-time analysis.

Aldo Aletti, General Manager, BPM Ireland, said: "We are very pleased with the quality of the support received during the implementation by the Misys team. OPICS provides the sophisticated functionality and integration capabilities that enable us to centralise and streamline our operations. In addition, by outsourcing the IT infrastructure to Engitech, the branch can focus wholly on our business requirements."

Clive Whincup, CIO of BPM's head office in Milan, adds: "The success of this project proves that we have chosen the right vendor, as Misys understands the local and global requirements of international banks. OPICS has enabled us to significantly lower costs, improve risk management and more easily access and analyse data to meet demanding management and regulatory requirements."

OPICS was selected following a 6 month evaluation process involving 3 competing systems. The solution was chosen because of its richness of functionality, including automatic confirmation of FX & MM, connectivity with Bloomberg, and its flexible capabilities for straight-through processing (STP).

Gavin Tingle, Business Development Director for Europe, Middle East and Africa at Misys, comments: "Multiple systems supporting various international offices can significantly increase a bank's cost base. With the pressure on reducing costs, many banks are looking to consolidate systems by creating a global processing environment. OPICS is a proven solution with wide instrument coverage and full departmental support, on a single platform, that helps our customers to streamline processes and lower costs across global boundaries. Most importantly, it still provides the flexibility to customise services to meet local needs."