Chinaâs formal accession to the World Trade Organisation opens up new opportunities for international companies such as Misys, which is in a unique position to supply an outstanding range of solutions developed specifically for the industry. Misysâ new operations in China will enable the company to play an active role in the development of a stronger Chinese banking and financial sector, as well as providing local service and support to clients in the region.
Rupert Soames, Chief Executive of Misys Banking & Securities Division comments, "The opening of our new branch in Beijing is a significant milestone in the expansion of our operations in the region, and we are particularly excited to be involved in the development of Chinaâs rapidly expanding banking and financial sector. Misys is one of the foremost suppliers of innovative solutions to the global banking and financial services industry, and has an enviable track record in the delivery and implementation of advanced solutions to its customers around the world."
"We have already worked closely with the international branches of banking institutions outside China, where our Midas product has been widely installed," he continues. "Now, Misysâ long-term commitment to the Asia/Pacific region is being extended to make our many yearsâ of experience available to clients inside China. We look forward to building strong partnerships with our customers in the region, and contributing to the success of their business operations by offering advanced system solutions that will provide them with a competitive advantage."
Misys has successfully worked with Bank of China on the implementation of OPICS, an advanced, internationally-recognised Treasury & Capital Markets solution, providing straight-through processing capabilities. The company intends to repeat this success, following the recent contract signed with China Construction Bank, another of Chinaâs pre-eminent financial institutions.
Some of the key factors which influenced the two Chinese banksâ choice of OPICS were the systemâs quality, reliability and comprehensive functionality, plus the support provided for an extensive range of treasury instruments. Currently, OPICS is a major component of the two banksâ new back-office architecture aimed at improving customer service and increasing profitability. The system has proven to be extremely effective in supporting the banksâ expanding treasury operations, enabling them to consolidate all treasury transactions within a single database and enhance the quality of management information, as well as significantly reducing their exposure to risk.