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Oman Arab Bank underpins expansion plans with the latest version of Misys Equation

Misys plc (FTSE: MSY.L), the global application software and services company, today announced that Oman Arab Bank will be the first Middle East Bank to go live with Misys Equation 3.9, the latest version of its widely-used retail banking system.

Installed in the bank’s headquarters in Muscat, Misys Equation is running Oman Arab Bank’s back-office operations in all 40 branches throughout the country. The latest version of Misys’ globally-implemented retail banking solution features a number of key functional improvements, and through this upgrade, the bank will be able to extend its coverage in the region and provide better services to more customers as it continues to expand operations.

Mustafa Srour, Oman Arab Bank’s Assistant General Manager, IT, comments, “We have aggressive expansion plans for our business and we needed the most up-to-date solution to underpin our move to open further branches within our network. We have benefited from Misys technology and expertise for more than 20 years and we are very excited to have implemented the very latest version of Misys Equation to increase our flexibility and stability as we continue to grow.”

Oman Arab Bank will benefit from the increased flexibility Misys Equation 3.9 provides as well as its enhanced lending capabilities. The bank’s customers will be able to benefit from more choice in the products and services available to them and will see a faster response time in all interactions with the bank wherever they are in the region.

Roy Froud, General Manager Middle East & Africa, Misys, adds, “The management team at Oman Arab Bank has consistently focused on improving customer service and differentiating themselves from the competition. We are delighted to be able to support them as they continue to grow their business. This latest, most advanced version of Misys Equation brings them stability, speed, ease of integration and an increase in performance that will help them maintain their leading position in the region.”