international branch operations
London, 27 May 2003 - Misys Wholesale Banking Systems today announced it has
won a global deal with the Industrial and Commercial Bank of China (ICBC),
the major bank based in Beijing. The contract, for both Midas and Trade
Innovation products, licenses the bank to run up to 15 international
branches from a single Overseas Data Center hub, enabling them to benefit
from increased operational efficiency and lower costs.
ICBC's new branch in Macau is the first to go live on the global hub. The
implementation was completed in an aggressive ten-week timeframe to support
the branch's grand opening in May. Implementation has now begun across
branches in Singapore, Tokyo, Seoul and Hong Kong.
The joint Midas and Trade Innovation solution was selected after a thorough
evaluation process against a rival supplier. Three different groups at ICBC
took part in the review, with criteria focusing on functionality, product
development capabilities and future-proof technology. During an in-depth
workshop in Zhuhai, the Misys solution architecture proved superior to its
competitor as it demonstrated the high level of flexibility required by ICBC
to sustain upcoming developments and support future direction.
Running all international branches, the Midas and Trade Innovation software
will operate from a sophisticated hub in Shenzhen, Southern China. Licensing
one standard version of the software to run from a single centre will result
in a major cost reduction. The consolidated hub will also give the bank
greater control as customer information will be centralised for risk
management purposes and it will be easier to manage regulatory and
business change. Specific local requirements are also supported through the
Midas hubbing environment which caters for different end of day run
times/holiday calendars and enables branches to tailor their service to
Midas will provide ICBC with comprehensive support for its corporate banking
business. As well as delivering a centralised point for settlement,
accounting and network interfacing, the bank will gain a complete view of
its business for MIS, risk control and regulatory reporting.
Trade Innovation will provide the bank with advanced workflow management in
a single, integrated environment. The system supports a range of business
applications including traditional letters of credit and collections, open
account and associated payment and lending services. A host of regional
requirements cater for both single site set-ups and global installations.
Andrew White, CEO of Misys Wholesale Banking Systems, comments: "This global
hubbing agreement with ICBC demonstrates the strength of the Misys solution
in international branch operations. The flexibility of the Midas
architecture means the bank's customers will get the best of both worlds -
customer care from the local branch combined with a centre of excellence to
provide for all their complex requirements."