Scandinavian banking group Nordea is deploying Misys Wholesale Banking System's Trade Innovation product to support its trade finance activity at its office in Singapore.
Trade Innovation replaces an implementation of China System's trade finance software Eximbills.
Torgeir Hansson, responsible for international units at Nordea, says: "Trade Innovation provides full business support for the wide range of trade finance instruments processed by our office in Singapore and offers extensive workflow management capabilities."
The software will be integrated with Misys' banking solution Midas, which Nordea Singapore has been using to support its core businesses since 2000. Hansson says Trade Innovation's complete integration with Midas will help the bank achieve fast implementation and minimise operating costs.
Nordea was formed in November 2000 as the result of several mergers between Finland's Merita Bank, Sweden's Nordbanken, Norway's Christiania Bank and Denmark's Unibank.