Philippine Farmers Bank turns to Misys to underpin its consumer lending business

7 January 2009

Misys plc (FTSE: MSY.L), the global application software and services company, today announces that Philippine Farmers Bank has chosen Misys to strengthen its lending business and increase its ability to respond to and service its customers throughout the country.

Philippine Farmers Bank is a rural bank that provides retail banking services in the Philippines, including traditional deposit, loan products and cash management. Having established itself as the leading bank for both consumers and small and medium-sized businesses to have access to these services in one place, it is now focused on growing its business further and keeping ahead of the competition.

Philippines Farmers Bank selected Misys from among the several vendors offering a core banking solution. The bank was looking for a trusted partner with both the knowledge and the experience to help it to achieve its goals without impacting the high level of customer satisfaction the bank had built in its business.

“We turned to Misys because of its track record in the region and its ability to support banks growing their business," stated Ronaldo C. Alaya-ay, Managing Director, Philippine Farmers Bank. "The team of experts from Misys moved extremely rapidly to come to our assistance and it was an easy decision to take their solution. We look forward to working with Misys as it helps us maintain our high standards of innovation and customer excellence."

One of the crucial elements in choosing Misys’ solution was the capability to support the bank’s officers in all provinces around the country, both within and outside its branches, who need to use laptops from which to complete loan transactions with their customers. With a series of very successful proofs of concept and demonstrations, the bank's management team was completely comfortable with Misys' capabilities and selected the company to provide their solution.

Graeme Beardsell, Regional Director Asia Pacific, Misys, added, "We are delighted to be able to come to the aid of such an important bank in the Philippines market. The flexibility and the advanced functionality of our solution, coupled with the 'can-do' attitude and knowledge of our consultants proved we were the best company to partner with. We look forward to providing the bank with a platform on which to expand its business, keep delivering innovative products to its customers, whilst continually ensuring costs are kept to a minimum."

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