Misys, the leading financial software company, today announced that HBL, the largest domestic multinational bank in Pakistan, has adopted Misys FusionBanking Corporate Channels to enhance its corporate banking business. HBL went live with the platform in four months, which brings together trade services, cash management and supply chain finance on a single, digital solution.
“Our technology needed to be enhanced to meet our clients’ shifting preferences to digital banking. Our corporate customers were increasingly doing business internationally and needed access to data not just in Pakistan, but globally,” said Fareed Hosain, Chief Information Officer, HBL. “The ability to provide customers with a common digital solution for trade finance and cash management will be a powerful sales tool to attract more business and deepen our existing client relationships. We have the agility to introduce game-changing products and solutions more rapidly, and our strategic partnership with Misys gives us a corporate banking infrastructure that is integrated, automated and controlled from an efficiency and risk perspective.”
Simon Paris, President and Chief Sales Officer, Misys added “We applaud HBL for staying one step ahead of the competition in a corporate banking market that is moving quickly with the digital demands of corporate clients. As a strategic partner with HBL we have moved together towards a future ready operating model that is underpinned by FusionBanking Corporate. We are seeing real momentum as banks around the world ramp up their corporate banking transformation initiatives driven by strategies that aim to digitise the entire business, from both a service and an operations perspective.”
Corporate clients are increasingly demanding faster access to banking services and expect new products to be accessible anywhere and on-demand. The unified corporate banking solution will enable HBL to increase business volumes as well as offer new cash and trade services quickly to clients via a consistent online banking application.
By implementing FusionBanking Corporate Channels, HBL will give its customers the ability to manage cash and optimise working capital and liquidity from a single point of access that provides full coverage for the bank’s trade and cash services. HBL expects the new platform to help expand its corporate customer base by more than 65%, driving increases in both revenue and market share.
In addition to implementing FusionBanking Corporate Channels for Cash and Trade, the bank also uses Misys FusionBanking Trade Innovation, Misys FusionBanking Equation, and Misys FusionBanking Message Manager. With this integrated suite of solutions to support corporate banking, HBL is digitising the entire business to advance efficiencies to its clients and increase corporate connectivity.
The bank has also chosen Misys FusionRisk to gain a clearer image of risk exposure and help sharpen decision-making. By providing teams with up-to-the-minute insight into credit, market and liquidity risk, and with powerful calculation tools, the bank will be able to better anticipate possible threats, identify key opportunities and optimise capital allocation.
With a global presence in 29 countries, HBL is expanding its presence in principal international markets including the UK, UAE, South and Central Asia, Africa and the Far East.
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