London, March 2 2005 - The Savings Bank of Albania, recently taken over by Raiffeisen International and now renamed Raiffeisen Bank Sh.a., has completed the installation of Misys Midas for its Albanian operations in record time. The bank already uses Misys Midas in nine locations of its international bank network, which includes 7 sites in Central and Eastern Europe.
To comply with Raiffeisen International Group standards, the bank needed to replace the incumbent system with a solution that complied with western banking standards and had the security and integration capabilities to allow the bank to develop its business rapidly across the local banking market. As a result, the bank decided to implement Misys Midas from Misys Wholesale Banking Systems.
Misys Midas has been linked to the bank's own systems for Basel II compliance and MIS, as well as Euronet for ATMs. In addition, Raiffeisen Bank Albania is already looking to the next phase of development. With only three ATMs currently in operation in Albania, the bank is looking to extend its branch network as well as rapidly expanding its ATM network across the country. It will also offer an increasing range of retail banking products, such as consumer loans and internet banking services. All of its banking operations will be underpinned by Misys Midas, thus allowing the bank to centralise its back-office functions and operate more securely and efficiently.
"We chose to implement Misys Midas in Albania, since it was a good fit for our business and complied with our centralisation and standardisation strategy. It also provided us with a secure, functionally-rich and easily-integrated solution from an established global vendor," comments Robert Herzog, Chief Information Officer, Raiffeisen Bank Sh.a., Albania. "Not only did the product suit our requirements, we also found the project implementation to be amazingly fast and professional."
"This is our second Misys customer in Albania, and one that further promotes and emphasises our expertise in Central and Eastern Europe", comments Paul Karwowski, Sales Manager for Central & Eastern Europe at Misys Wholesale Banking Systems. "With banks in this region looking to develop their business both within their own countries and across Europe as a whole, it is critical that they have robust IT solutions in place, like Misys Midas, that can cope with the growing number of rigorous local and international regulations and that can integrate with third-party systems. We look forward to working more closely with Raiffeisen Bank Sh.a., Albania as its business develops and grows."