Misys wins Trade Finance award for second consecutive year
Misys, the leading financial software company, has been awarded Best Trade Finance Tech-solutions Company in this year’s Trade Finance Awards for Excellence.
This is the second year in a row that Misys has been awarded the accolade by Trade Finance magazine. The winners are voted for by the industry, allowing the trade finance community to express its views on which companies have demonstrated that they have best met the challenges of globalisation, digitisation, regulation and risk to deliver market-leading solutions for their customers.
The win reflects another strong year in trade finance for Misys, with new deals in Germany and India, important go-lives for Tier one global banks in the UK and US, and a growing client base of over 200 financial institutions now using its trade and financial supply chain management solutions. Within the last year, Misys has also been named a Leader in Gartner’s Magic Quadrant for International Core Banking, and “Best in Class” by CEB TowerGroup for corporate client services and transaction capabilities in trade services.
Trade services continue to play a growing role in corporate banking revenues as banks look to deepen client relationships. Intense competition and the threat of supply chain finance disintermediation are leading banks to industrialise their processes, innovate and drive greater efficiency in the delivery of trade and working capital solutions for their clients. According to a recent CEB report , global trade services revenue will increase from around $40bn in 2011, to nearly $70bn by 2020. These awards recognise Misys’ ability to help its customers navigate these challenges with best practice solutions for global processing and by supporting digitisation and connectivity with new networks underpinning the financial supply chain.
Misys has seen double digit growth in demand for FusionBanking Corporate Channels, its integrated online banking solution for trade, supply chain finance, corporate cash management and commercial lending. The company has continued to invest in new technology, delivering a new relationship-based pricing and billing engine and further support for the latest innovations in digital trade finance and corporate connectivity, such as the Bank Payment Obligation and Electronic Bills of Lading.
“We are delighted to receive this award for the second year running”, said David Hennah, Head of Trade and Supply Chain Finance, Misys. “The fact that these awards are voted on by the industry makes it even more significant for us. We always aim to provide our customers with the very best solutions for their trade finance business, and it’s fantastic to receive such positive feedback.”