NORD/LB's choice of system maintains its global IT strategy of standardising on Midas to support the business operations of its international branch network, and complements the Midas solutions already implemented at the bank's overseas branches in London, New York, Singapore, Stockholm and Helsinki. The bank has also recently implemented the solution at its new branch in Shanghai, which went live in April 2004.
"We are strongly committed to our strategy in North-East Europe of offering specialised services to our corporate customers. The overwhelming success of our operations in Scandinavia and the Baltic region over the past few years confirms this, and we are convinced that, by continuing to use Midas and expand this strategy into Poland, we will strengthen the position of NORD/LB as an important partner bank for German and local industry," says Sven Herlyn, Executive Vice President at NORD/LB.
Mr. Herlyn goes on to say: "An important factor for achieving uniform customer service is to standardise our operations on a common IT platform. Our existing partnership with Misys, and our use of Midas in our international branches, has already provided comprehensive business support to our expanding international corporate business. An evaluation process of optional solutions resulted in the decision to extend the Midas strategy to our subsidiary in Warsaw."
The implementation of Midas, which was supported by resources from NORD/LB's head office in Hanover, took less than 5 months. Piotr Puczynski, Managing Director of NORD/LB Bank Polska, explains: "We were extremely comfortable with the implementation process. The highly professional support provided by local Misys technical and business consultants, and our own extensive in-house knowledge of Midas helped to ensure a very fast and low risk implementation project.
Since going live with Midas, we have already realised a wide range of business benefits, including lower operational costs, lower operational risk and strong support of our business processes in important areas such as lending and dealing."