Piraeus consolidates acquisitions on Equation

Piraeus consolidates acquisitions on Equation

Greece's Piraeus Bank is consolidating its core banking systems around the MKI Equation package as it integrates recent Macedonian acquisitions, and newly-acquired Pater Bank, Romania.

The global shift to Equation DBA will enable the expanded bank to amalgamate its operations with those of recently acquired Thrace Bank and XiosBank and so offer a unifrm service throughout its national branch network. The combination of Equation's API's (Application Programming Interfaces) and its Integrators Technical Package, together with MKI's Meridian Middleware has enabled links to a variety of inhouse and pre-installed third-party applications.

The live system will support the operations of 170 branches across Greece, an extensive network of ATMs and teller workstations, and handle all transactions generated by the bank's one million plus account holders. Additionally, the operational remit of Equation is to be extended to support electronic brokerage, a consumer lending system, a call centre facility, mobile phone banking, Internet banking services and an asset management system.

Jannis Delis, Piraeus Bank, says: "When choosing a system, we were reassured by the results of the benchmarking tests carried out with IBM confirming that Equation running on the AS/400 has the ability to process the millions of accounts and hundreds of thousands of daily transactions involved in our retail banking business."

Equation is already installed and fully operational at Piraeus Bank's international branch in Tirana, MKI's first site in Albania, and at the offices of Romanian subsidiary Pater Bank, another international first for MKI. The system is also scheduled for eventual implementation at the bank's newly-opened subsidiary in Frankfurt, Makedonishe Thrakische Bank.

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