CRDB bases growth strategy on Misys BankFusion platform

18 August 2008

Misys plc (FTSE: MSY.L), the global application software and services company, today announces that CRDB Bank of Tanzania will implement Misys BankFusion Universal Banking.

Government owned until 1996, CRDB Bank is entering a period of renewed expansion with plans to open 10 new branches a year, launch a fully automated and integrated banking service and add many new innovative products to its existing product portfolio. A Misys customer of 12 years, CRDB wanted to take advantage of the latest banking technologies to provide a platform for growth.

Misys BankFusion Universal Banking makes it possible for banks to meet the demands for high volume processing while continuing to meet the growing expectation of client and market requirements. It gives banks the flexibility to add new products and processes, a choice of hardware, software and services and offers a significant reduction in overall technology and operational costs.

CRDB is implementing Misys Trade Innovation, Misys Opics and Almonde alongside Misys BankFusion as part of a three-phase programme. Misys Trade Innovation will enable CRDB to expand its trade finance operations while Misys Opics will fully automate the treasury department in the bank. Misys Almonde will provide CRDB with an award-winning compliance and performance monitoring platform covering the key areas of risk management. The solution is fully integrated into international banking networks such as Swift, Reuters and Bloomberg.

Dr Charles Kimei, Managing Director of CRDB Bank comments: “We needed a truly universal solution from the branch to the back office, including the finance, treasury, trade finance and risk management functions to help our future growth plans. We needed the system to be fully integrated and capable of delivering real-time business intelligence. We are confident that Misys is the partner to give us the capability to meet our growth plans and equip us to deal with the unexpected.”

Guy Warren, EVP and General Manager, Misys Banking, comments, “Core banking systems need to deliver a combination of power and flexibility to enable our customers not only to accommodate growing business volumes but to expand their product lines to meet changing market requirements, while minimising cost and the disruption of new systems development. CRDB Bank has been a customer of Misys for 12 years and we look forward to helping it with its expansion plans into the future.”

Misys BankFusion Universal Banking includes a broad range of functional modules, such as general ledger, current and savings accounts, consumer lending and payments that allow banks to add new products with minimal development and time to market.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development