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IFIC Bank selects Misys Equation to enhance the quality and extend the range of services for customers throughout all branches

Automation brings a seamless, integrated service for customers across 65 branches

1st June 2006 – Misys Banking Systems, a global leader in banking software and solutions, today announces that International Finance Investment and Commerce (IFIC) Bank Limited in Bangladesh has selected Misys Equation to help expand the reach and capabilities of its retail banking operation.

With the rapidly expanding banking industry in Bangladesh, consumers have rising expectations about the breadth of products and services banks should provide, such as the ability to give the same quality of service to its customers at any of their branches.

Using Misys Equation with its Branch Automation module, IFIC Bank will be able to provide better information about products and services to customer-facing staff at each branch. Customers will see an enhancement to the interactions they have with branch staff and have access to an array of improved services, including signature verification, reconciliation between branches, better security and access to a wider network of ATMs.

The Managing Director of IFIC, Mr. Mashiur Rahman says that retail customers in Bangladesh have come to expect more from their bank. “We are proud of our position at the forefront of our country’s banking industry. We are working hard to make sure our customers have the best service across all of our growing network of 65 branches. Customers demand the ability to perform transactions efficiently at any of our branches, more consistency in the services they receive and a wider range of banking products. Misys Equation will allow us to do all of this and start offering a wider range of services which will help us stay competitive as the market develops.”

Misys Banking Systems is building strong expertise in the emerging Bangladesh banking sector. Dermot Briody, head of sales for Core Banking, Misys Banking Systems in Asia, feels that Misys is well placed to continue to work with the country’s leading banks. “We have been working in Bangladesh for a number of years and have developed a clear understanding of the banking sector there and what products are needed. Misys Equation is the perfect solution for fast growing banks that want to knit their services together and provide higher standards and more choice for their customers – inside and outside of the branch network.”

IFIC also plans to increase activity across its trade finance offer and will be using Misys Trade Innovation at head office and in some of the branches. Mr Mohammad Abdullah, the Deputy Managing Director of IFIC bank comments, “We want to be able to offer our corporate customers a wide range of trade finance products. Misys Trade Innovation will help us deliver more sophisticated and varied trade services.”