Misys signs six to MidasPlus; Ikano licenses EagleEye
12 October 2004 | 8109 views | 0
Misys Wholesale Banking Systems says it has signed six banks to its Web-based processing software, MidasPlus, this year.
The banks, which include HBOS, OCBC and Industrial and Commercial Bank of China (ICBC), are implementing the MidasPlus system for global processing.
Misys says the technology enables banks to run one central system internationally instead of supporting different technologies worldwide. Roger Hedges, head of international and regional banking markets, says: "Data that was traditionally locked away in various systems is now instantly accessible in MidasPlus with global processing."
The vendor says in addition to the six banks, a further eleven existing customers have upgraded from Midas for their single site operations, bringing the total number of MidasPlus clients to 17.
Seperately, Luxembourg-based Ikano Fund Management is rolling out Misys' EagleEye compliance software to help it address the application of the UCITS European Directive.
Misys says its standalone Eagleye product delivers accurate and timely information about any particular trade and alerts the organisation to potential compliance issues and breaches before they arise.
The product is able to test each trade against compliance rules and provide the necessary information for portfolio managers to amend the trade if any issues were flagged.
Commenting on the implementation, Clive Pedder, CEO Misys Eagleye, says: "Ikano Fund Management, can have the peace of mind that any trade that is executed by any of its 28 third party portfolio managers will stick within the guidelines and regulations set for them."
Furthermore, Russia's Vneshtorgbank (VTB), Bank for Foreign Trade, is implementing Misys' Trade Innovation product to support its trade finance operations. The bank will use the software to automate transactions across its branches.