Misys (LSE: MSY), the global application software and services company, today announced that Bank of Papua New Guinea has gone live with Misys Opics Plus v3.0, Misys Opics Risk Plus and Misys Eagleye. The integrated solution will deliver enhanced efficiency and visibility in its reserves management operation and increased automation and management control of credit, market and operational risks.
The Bank of Papua New Guinea is a contemporary central bank and regulator, employing best practice in the development of monetary policy, financial sector supervision and payment system. The Bank's objective was to significantly update its systems in order to improve its operational efficiency and risk management capabilities to ensure it had a comprehensive reserves management system.
The Bank selected Misys following a three-way competitive pitch, which saw the Misys solutions emerging as the clear leader in
providing operational efficiency with effective risk management solutions. The latest version of Misys Opics Plus will enable the Bank to process higher volumes of treasury instruments and provide clients with more products. The back office will utilise the system's event-based workflow manager to confirm deal and payment information with counterparties and send automatically generated confirmations.
Misys Opics Risk Plus and Misys Eagleye provide a comprehensive risk management framework for the central bank including
performance and return attribution analysis, portfolio and currency compliance limits and policy controls. The integrated front-to-back system will provide for easier reconciliation and regulatory reporting.
Mr Loi Martin Bakani, Governor, Bank of Papua New Guinea, said: "We were keen to modernise our infrastructure in order to gain greater transparency, operational efficiency and risk management across our reserves management operations. Misys was the ideal partner due to its leading solutions and excellent track record in delivering leading treasury systems."
Mr. Lee Boon Huat, Asia Pacific Managing Director of Misys adds: "Bank of Papua New Guinea plays an important role in managing the local economy and in facilitating effective trade and payments, both at a national level and internationally. With our strong track record in treasury solutions, Misys was able to demonstrate that it is the leading provider to help modernise the reserves management operations of the Bank. This is an exciting partnership for Misys and we look forward to helping the team at Bank of Papua New Guinea take advantage of our leading technology to bring greater efficiency and stability to the country's economy."
Misys Solutions for Treasury & Capital Markets has 31 years of experience and unrivalled software development expertise. It creates
integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.