Hanseatic Bank licenses Misys' Equation

Hanseatic Bank licenses Misys' Equation

Hamburg-based Hanseatic Bank is rolling out Misys Retail Banking Systems' core banking software, Equation, across 25 branches.

The bank will implement a customised version of the software in three phases, replacing its existing mainframe system, Kordoba.

Misys says the bank chose to deploy Equation in order to comply with both German and international accounting standards.

The software will support the bank's accounting, savings business, deposits, money market and payments processing operations and will be used to report to the Bundesbank.

Torsten Brandes, managing director of Hanseatic Bank, says: "The solution will also significantly reduce our operating costs."

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