Banque Federale Mutualiste extend Misys partnership to tackle Basel II

2nd November 2005 - Misys Banking Systems is pleased to announce that Banque Federale Mutualiste, the French bank, has selected the Misys Basel II solution. This is an extension to their existing ALM capabilities solution, the Misys Almonde platform.

After a formal selection process with several risk vendors, Banque Federale Mutualiste chose the Misys Basel II system. The strong Misys track record in such projects meant that the bank could be sure that it will achieve Basel II compliance under the standardised approach within the project deadlines.

Pierre Emmanuel Valentin, CEO and Board Member of Banque Federale Mutualiste says, "We selected the Misys platform because it will enable Banque Federale Mutualiste to benefit from Basel II by enhancing our capital allocation and our risk steering. But also, this system means that we will have a common platform between the Misys Basel II and ALM solutions. That means that we can re-use a lot of the data acquisition work that was done for the Misys ALM implementation, so project risk and implementation time are both dramatically reduced."

Marco Knaap, Director of Sales, Risk Management of Misys Banking Systems says, "The benefit of our common platform will enable Banque Federale Mutualiste to get ahead of the competition for regulatory compliance. We're thrilled to be able to extend our partnership with Banque Federale Mutualiste to include our Basel II solution. We see this as another strong vote of confidence in our products and our services from an existing and valued customer."

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