Philippine Veterans Bank goes live on Misys Opics Plus

17 January 2007

The bank extends relationship with Misys broadening the capabilities and breadth of products in its treasury operations and increasing throughput and usability with Opics Plus

Misys Banking Systems, a global leader in banking software and solutions, announces today that Philippine Veterans Bank (PVB) has successfully implemented Misys Opics Plus in record time. With the rapid three-month implementation, the bank has expanded the range of products it can offer its customers and has broadened the functionality of its treasury operations.

PVB provides a wide range of services to its customers, including foreign exchange, treasury, domestic and foreign funds transfer. The management team at PVB chose to upgrade to Misys Opics Plus to bring additional functionality to the bank and the ability to offer its customers an expanded range of products. The Misys Banking Systems team has already completed the first implementation phase, going live with FX, fixed income, deposit & loans, nostro and cash management, and multi currency accounting modules.

Misys Opics Plus is the latest evolution of Misys Opics, based on an n-tier, .NET architecture. The bank is already seeing the benefit of using Opics Plus for its foreign exchange transactions and the team is planning a further roll out to cover FX futures and swaps. With Opics Plus the bank is able to process higher volumes of transactions and to support more complex instruments to support the PVB’s growing business. The next phase of implementation will also see further modules of Misys Opics Plus in use, including analytics and customer credit.

“We are very familiar with the high standard of the products and service that Misys Banking Systems provides,” adds Joric Nazario, SVP and Treasurer, Philippine Veterans Bank. “We had every confidence that the team would be able to upgrade to Misys Opics Plus at the pace we wanted and with no disruption to the business. The professionalism and commitment of the team ensured that the implementation project was a success. We look forward to gaining the benefits of using the superior solution and continuing to work with Misys in the future.”

“Over the course of several years, we have been able to provide quality products and exceptional service to the bank through its use of Misys Equation and Misys Opics,” comments Neil Lopez, Services Delivery Manager, Misys Banking Systems. “The bank needed to upgrade to the latest solution to enable its treasury department to remain at the cutting edge of innovation and the executive team knew that they could rely on us to ensure a successful and rapid implementation of the newest version of Misys Opics Plus. We have had great interest from Asian financial institutions in the advance capabilities of the solution. PVB is at the forefront of that market and we are delighted to help it maintain that position as an innovator in the region.”

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