OeKB will implement Misys Summit ASP in its International Finance Department to leverage Summitâs sophisticated risk management and trading capabilities across all financial instruments, running from front to back office. Headquartered in Vienna, OeKB is a market leader in Austria, administering the Export Financing Scheme for the Republic of Austria as well as providing financial and information services to the export industry and capital markets. Misys is an established ASP provider with more than 800 customers running in a hosted environment, which was a strong factor in its selection to support OeKBâs operations in the International Finance Department.
Misys Summit provides OeKB with a complete solution for handling its multi-product portfolio of capital market and derivative instruments, with extensive functional coverage from trade entry, performing valuations, through to reducing operational risk. Summit covers the broadest set of asset classes in the industry, from the simplest vanilla through to complex derivatives and the latest structured products.
As the central hub to a variety of corporations across multiple sectors, financial institutions and government agencies, the trade process can be more effectively managed via STP, reducing associated operational risks of manual input and providing daily reporting throughout the trade life-cycle. The Misys Summit ASP hosted service will allow OeKB to reduce costs, streamline its operations while supporting its future expansion.
Commenting on the selection of Summit a senior representative of the International Finance Department, states, âOeKB was looking for a solution that would give the bank the support and scalability to manage the current business and future growth. The Misys Summit ASP platform was the best solution that met all of our needs, providing enhanced functionality, greater levels of customer service and the flexibility that the ASP hosting capability gives us.â
Dermot Briody, Director Sales, Europe at Misys adds, âMisys Summit ASP solutions already support a large international community of leading financial institutions. The solution will help OeKB garner the benefits of increased innovation and offer the flexibility to choose which elements of its business model it wants to run over the ASP. We are delighted to be assisting the bank in realising its business goals.â
Misys Solutions for Treasury & Capital Markets has 20 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.â