The Bank of East Asia (BEA), the largest independent bank in Hong Kong, has
selected Misys' Trade Innovation solution for its head office's trade
finance business. The software will assist in streamlining BEA's trade
finance operations through enhanced efficiency and better use of resources.
The Trade Innovation implementation will deploy the complete suite of trade
finance business services, including import and export letters of credit,
collections, bill financing, guarantees and workflow management facilities.
Combined with its intuitive user interface and open architecture, the
solution will give BEA more flexibility and higher quality customer
BEA has selected the solution after a highly competitive evaluation process.
Commenting on the deal, an executive of the bank said: "We wish to partner
with a vendor with extensive trade finance expertise, strong local support
and a solution that can meet our present and future requirements. Misys and
Trade Innovation are the right choice for us."
Integration with the bank's existing systems is another key concern for BEA.
Trade Innovation's open architecture enables smooth communications with
other solutions, giving the bank enhanced financial control through
real-time interfaces. Using Trade Innovation's powerful application
programming interfaces (APIs), BEA can easily build secure, reliable and
flexible connectivity between existing applications and Trade Innovation
while, at the same time, key data can be shared with other systems.
John Palmiero, Misys Wholesale Banking Systems' Head of Sales for Greater
China Region comments: "We are delighted that The Bank of East Asia has
chosen us for this exciting project. Their selection of Trade Innovation
confirms the solution's business and technological advantages, and will
enable the bank to truly enhance its operational efficiency and levels of
customer service. Also, this is a very important project for us as it
further demonstrates our ability to deliver world-class banking solutions in
China, a country with huge business potential."