18 January 2018
visit http://response.ncr.com

Nord/LB licenses Misys Midas Plus

30 July 2007  |  2321 views  |  0 Source: Misys

NORD/LB (Norddeutsche Landesbank Girozentrale), one of Germany's most prestigious banking groups, has selected Misys Midas Plus to support its aim of growing its corporate banking business and at the same time making the group's risk and cost structure more competitive.

With further investment into the global Midas strategy and afterwards implementing Misys Midas Plus with Global Processing, NORD/LB will be able to reduce costs and risk across its international banking operations.

NORD/LB, with headquarters in Hannover, is a recognised German Landesbank, with a strong and growing presence in all the world's major financial and trading centres. The bank has been a customer of Misys for over a decade, running its operations on Misys Midas. The bank has chosen Midas Plus as its strategic core banking platform and it will initially run the group's banking operations in London, New York, Singapore and Shanghai, with the plan that every subsidiary within the bank's worldwide operation will be run on Midas Plus.

Michael Brandes, Head of Information Management and Organisation and Relationship Management, NORD/LB, comments, "Competition in our industry is becoming increasingly fierce and we have initiated a number of changes at NORD/LB to face the challenges of the market. The choice of Misys Midas Plus as our strategic technology platform supports our business strategy in our foreign branches from an operational, technical and banking point of view. It gives us an opportunity to standardise business practices throughout our world-wide branches, thereby cutting duplication of effort and resources, minimising exposure to fraud and ensuring a consistent service for our customers world-wide. At the same time, we can have a coherent view of management information across branches, so we can make better informed decisions more quickly. From a banking point of view, we see strong growth in the commercial, syndicated lending area. In our view, Midas is certainly the best system to support our growth strategy."

Claus Schuenemann, Head of Sales for Europe, Misys Banking, adds, "One of the major challenges facing banks today is the increasing complexity and expense of managing multiple international branches. As a result, many banks today are looking to consolidate their technology operations and take advantage of the benefits of globalisation. By centralising IT operations in one location, banks can reduce support costs, have better access to appropriate skills and improve the resiliency of their systems. Misys is the only vendor that provides a complete answer to banks' Global Processing needs."

Through this agreement, NORD/LB's whole corporate banking operations will be supported on a single consistent set of business processes and support infrastructure, underpinning the customer-facing business activities.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.niceactimize.comvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
10673 views comments | 32 tweets | 36 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10120 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9708 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9241 views comments | 17 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8203 views comments | 8 tweets | 6 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job