Banks will be better equipped to meet the demands of their customers with the launch today of a corporate multi-banking service by Misys, the global software and solutions company. Misys Trade Portal for Multi-Bank is a secure hosted service that provides banks and their customers with a comprehensive means of processing, reviewing and managing through a single web-based portal all their transactions including Letters of Credit, Collections, Guarantees, Financing or Open Account-based transactions.
Misys is the first specialist trade finance solutions provider that offers this solution, giving corporate clients consolidated access to multiple banks at the same time through a single source. It provides corporates with the ability to capitalise on an innovative and customisable financial supply chain solution that meets their increasingly complex demands.
Oliver Berthier, Head of Product Management, Misys Trade Services, comments, “The feedback we are getting from both banks and corporates is that the few existing solutions that claim to be multi-bank, are not meeting their functional demands well enough. We have been working in partnership with a number of major European financial institutions to develop a hosted multi-bank service which enhances the existing capabilities of our award-winning Misys Trade Portal solution. The new service sits as a complementary option alongside our existing Misys Trade Portal product offering. It takes our online banking expertise, our experience in the processing of trade finance transactions, as well as our expertise in operating on-demand “Software as a Service” solutions and combines these so that banks are better equipped to satisfy their corporate customer demands.”
The hosted application enables corporate clients that are currently handling multiple banking relationships to have a single, consolidated overview of their international trade transactions, enabling better financial supply chain management. As a hosted service, it minimises the initial investment both banks and corporates have to make and reduces the overall total cost of ownership.
Misys has built a vast amount of knowledge and expertise in the trade finance and financial supply chain market, with award-winning solutions from the front office through to the back office, as well as the first and most advanced SWIFTNet Trade Services Utility (TSU) enabled solution. This experience in both traditional trade instruments as well as Open Account-based transactions enables Misys to add real value to customers and continue to lead the innovations in the market.
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