Dublin-based Kindle Banking Systems, a division of Misys, has entered an agreement to distribute Computer Solutions International's On-Q MIS banking products to customers worldwide.
On-Q is a multi-currency MIS system that is designed to measure the profitability of products, customers, account managers and organisational units. Under the agreement, the product will interface to Kindle's Bankmaster and be offered to those customers at between 3000-4000 sites around the world.
Using the package, banking services can be viewed in different dimensions such as line of business, assets and liabilities, and fees-based or spread-based products. Income issues, such as current account set-up in Bankmaster, can be viewed as a catalyst for the introduction of fee-based services such as standing orders, remittance, Chaps, foreign exchange and cash management.
Martin Dolan, marketing manager of Kindle, comments: "On-Q enables banks to assess the income and the cost of each individual product - if you don’t know the income and cost of a product, you can’t determine whether it’s profitable."
Ian Measor, financial controller at ABN Amro, an early customer of of On-Q, says: "Now ABN Amro has a clear understanding of the business and can be sure of its income by customer and by product. We can now look at completely controlling future performance.”