Having conducted an extensive selection process that reviewed a total of five different vendor solutions over a six month period, the bank finally selected Misys Opics and Misys Message Manager from a short list of three.
Misys Opics is the established industry leader in providing fully automated straight-through processing (STP) capabilities to the wholesale banking industry. It will be used by BII to reduce costs by centralising all systems and operations involved with the new extended range of products. This will be aided by Misys Message Manager, which will integrate and interlink any applications developed by the bank's in-house team, and by third parties, with Misys Opics. This will therefore give BII guaranteed message delivery backed up by advanced data replication and sophisticated data manipulation, thus giving robust quality to their operations.
Henry Ho Hon Cheong, President Director of Bank Internasional Indonesia, said there were a number of reasons why they selected the Misys solutions. "Misys has always provided proven financial solutions, backed up by their local knowledge, to the Indonesian market. In addition, as we expand our business we will require more complex products within areas such as Fixed Income and Derivatives, so we are particularly pleased that Misys future development plans are clearly able to meet these requirements."
Sebastian Muliawan Wijaya, President Director, Misys International Financial Systems, Indonesia, was delighted with the confidence that BII has shown in Misys. "We are very pleased to have developed such a strong relationship with BII, having worked hard with them to integrate Misys Opics with a large number of their core banking and branch delivery systems. For instance, SWIFT, RTGS, BI Reporting, Reuters and Bloomberg are mission-critical applications for the bank, so our experience and expertise in integrating with these systems has been crucial. We now look forward to working closely with BII as they continue to grow their business."
The joint Misys solution is due to be implemented in two phases, with each phase estimated to be seven and four months respectively. Completion of the implementation is therefore expected in Q1 2006.