Italian banking group UBI Banca International is rolling out the Midas Plus core banking package and the TI Plus trade finance application from UK vendor Misys across its EU branches.
Misys says the Italian bank, which was recently formed following the merger between BPU and Banca Lombarda, will use its technology to help consolidate international operations.
The Misys products will be installed at the bank's Luxembourg office and rolled out across the rest of UBI's EU branches. This will allow the bank to have a single technical infrastructure and IT team for managing the business across multiple countries and regulatory environments, says Misys.
"The Misys solution enables us to streamline operations across the group and deliver enhanced services from centres of core competency," adds Massimo Amato, MD of UBI Banca International. "There will be a centre of excellence in Luxembourg for the private banking and financial engineering business, whereas the expertise for trade finance could be in Spain or in Germany. This way, we maximise assets and skills within the group.
Misys says the technology will enable the bank to improve efficiencies and business management across the group and ensure a consistent level of service to customers in Luxembourg, Spain and Germany.
The multiple phases of the project will be rolled out over the next 18 months and the global processing model will give UBI Banca the ability to easily deploy more group entities whenever required, says the vendor.