Mizuho Corporate Bank selects Misys Midas Plus with Global Processing to support its international growth strategy

25 September 2008

Misys (FTSE: MSY.L), the global application software and services company, announces that Mizuho Corporate Bank, headquartered in Tokyo, has selected Misys Midas Plus with Global Processing to support its ambitious international growth strategy. The implementation of the first site in Europe has been completed with all other operations to move onto the central hub individually. The integrated core banking solution will help Mizuho to deliver improved efficiencies and more informed decision-making within its commercial and investment banking operations and ensure a consistent level of customer service across the bank’s global network.

Building on its strong client base, Mizuho’s business strategy has two elements. First, the bank is combining its commercial banking and investment banking capabilities to offer its corporate customers a complete portfolio of services, including syndicated loans, M&A deals, leveraged finance, project finance, cash management and securities. Secondly, the bank is applying this business model on a global scale by extending the geographic coverage of its international network. Mizuho opened six international branches in 2006 and a further three branches in 2007.

Midas Plus with Global Processing will be used to centralise IT systems servicing branches throughout Europe. This will enable the bank to standardise business processes across its network, yet deliver the flexibility required to meet local regulatory environments and regional variations in business practice. Having a single system to support multiple branches will allow a single update to reflect changes into all the offices using Midas Plus with Global Processing.

By consolidating the IT infrastructure, the bank will streamline operations, deliver a consistent level of service to customers and improve the speed at which it can roll out additional branches. Midas Plus will reduce complexity and simplifying the bank’s IT infrastructure, resulting in cost reduction, better access to information from across the business and a faster response to changes in the industry. Ultimately, it will substantially enhance how the bank delivers services to its corporate customers around the world.

Importantly, Mizuho executives will have an enterprise-wide view of the bank’s management information and a much clearer picture of risk across the organisation. The ability to make more informed decisions based on a global perspective was a key requirement from the bank.

Graeme Beardsell, Head of Sales for Misys in Asia, adds, “We have built an excellent track record of providing a solution that enables banks to run their international operations with maximum efficiency and control. Our Global Processing facility within Misys Midas Plus will enable Mizuho to reduce the cost of operations considerably and provide the flexibility to explore new markets with minimal additional investment. We look forward to working with Mizuho in the future as we roll out the project.”

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