Hong Kong-based Vanda Systems & Communications has signed an agreement to market and distribute Misys Wholesale Banking Systems' trade finance software, Trade Innovation, to banks in China.
Under the terms of the agreement, Vanda will package and promote Misys' system as TI Express to provincial Chinese banks. The two companies will also work together to market and implement the software, as well as develop functionality in response to local banking requirements.
Vanda has a strong presence in mainland China, operating offices in cities including Beijing, Changchun, Chengdu, Dalian, Guangzhou, Shenzhen, Shanghai and Wuhan.
Loh Tiak Koon, CEO of Vanda, says the collaboration with Misys will enable the firm to "provide full spectrum international banking solutions to our banking clients".
"With our extensive banking client base and technical capabilities, we are confident that the collaboration will further expand Misys' market share in China," adds Koon.
Misys says the partnership has already produced its first results with Bank International Ningbo, an Indonesian private bank with branches in Ningbo and Shanghai, recently signing for the software.