Integrated standardised platform reduces costs across banks’ global trade finance business
Misys, the global leader in financial services software solutions, is now offering customers Global Processing as part of its trade finance processing solution, TI Plus. Banks are under increasing pressure to offer high customer service levels and deliver standardised trade services regardless of location. The Global Processing functionality within TI Plus enables banks to gain a competitive edge over other trade finance specialists through improved customer service levels, reduced costs and more efficient operational structures across their regional or global trade finance business.
Misys TI Plus Global Processing centralises disjointed local systems, offering an integrated standardised platform that allows the retention of local customer services, yet provides central management of trade business, improving visibility and speeding up the roll out of new services. The solution from Misys reduces pressure across regional teams and enables banks to offer a superior service to customers globally, such as round-the-clock processing of their trade services transactions, providing the opportunity for more robust Service Level Agreements (SLAs) to be offered to customers. The Global Processing functionality has already been licensed by five banks, including ING and Qatar National Bank.
The enhanced functionality permits banks to distribute workload, allowing improved management of resources. Operating costs can be reduced by basing trade finance teams in cost-effective locations and the central oversight and control of trade finance eliminates silos across regional teams. The standardised international process also enables banks to manage and mitigate operational risk more efficiently as all areas of the bank can operate in broadly the same way.
Steve Walshe, Product Manager for TI Plus Global Processing, Misys says: “The evolution of the banking industry has accelerated the demands to enrich customer service, and reduce operational costs whilst the pressure on improving and standardising operational risk management has increased. Global Processing allows a bank to ‘act globally’ significantly improving their offering to corporate customers, as well as increasing cost-efficiency and the management of operational risk in-house.”
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