KBC selects Misys technology for SwiftNet TSU services

KBC selects Misys technology for SwiftNet TSU services

Belgian banking group KBC is implementing technology from UK software house Misys to provide corporate clients with services via the SwiftNet Trade Services Utility (TSU).

Misys says KBC - a Swift TSU pilot bank - will use its trade services portal to enable and support TSU-based initiatives.

Commenting on the implementation, Herwig Huysmans, general manager, trade finance, KBC Bank, says: "In the competitive environment of trade finance, we have to make the services that we offer our corporate clients more effective and worthwhile for them.

"Many of our customers are turning to us to provide them with the ability to manage their end-to-end financial supply chain and we can now do this more effectively with the SwiftNet TSU and the assistance from Misys and its solution."

Misys was the first vendor to receive the SwiftReady TSU label after enhancing its Trade Portal service to cater for banks using the facility. The system, which supports all TSU messages and processes currently in use, can be integrated with a bank's existing Swift messaging infrastructure.

In other Sibos news Misys says it is developing an exceptions and investigations package that can help all banks - irrespective of payments volumes - reduce the costs associated with exception processing while improving operational efficiency.

Exceptions and investigations processing is one of the most resource-intensive and costly activities for a financial institution, says the vendor. The new Misys Exceptions & Investigations (E&I) package can be used by any bank, whether they connect directly to Swift or indirectly via a service bureau, MA-CUG or Score.

Misys says the new offering will be developed with the support of Swift to provide a scaleable application to banks using the SwiftNet E&I service.

"We will design Misys E&I so that it can be deployed initially on a small-scale and then grow in accordance with the business requirements. The vast majority of banks who do not process payments on the same scale of the world's largest institutions still need an accessible solution to help them manage exceptions and investigations," says Barry Kislingbury, product manager, financial messaging, Misys Banking.

"Misys' decision to develop a SwiftNet E&I module that caters for the requirements of all types of institutions is key for the take-up of the solution," adds Catherine Banneux, senior product manager, Swift.

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