Philippine National Bank signs for Misys' Opics
17 February 2004 | 4501 views | 0
The Philippine National Bank (PNB) has licensed Misys Wholesale Banking Systems' treasury, derivatives and capital markets system, Opics.
The bank says it will use the Opics package to improve efficiency across the front, middle and back office.
Misys says its product will deliver enhanced transaction flows and improved risk management through volume and stop-loss limits and better inventory management of securities.
The system will also be used to support the bank's future plans for building a retail fixed income business.
PNB is the 16th bank to sign for Opics in the Philippines. Misys says the system includes features that comply with the specific requirements of both local financial institutions and the central bank.
Asterio Favis PNB's EVP and treasury head, says: "Following a stringent evaluation process of three vendors, over a seven-month period, our bank concluded that Misys best fulfilled all our requirements for functionality, local track record, strong and reliable support and the ability to provide a localised Filipino solution."