Misys, a global leader in application software and services, has completed the implementation of Misys Equation 3.82 in record time at Public Bank Berhad in Colombo, Sri Lanka (PBSL) to enable it to evolve from a manually-processed bank to one with a fully-automated retail operation.
As part of its strategy to continually improve operational efficiencies and drive better customer service, PBSL has invested in its domestic and international operations. With the objective of automating its retail banking processes while minimising operational risk, the bank selected Equation 3.82, the latest version of the core banking system from Misys. Misys' experience and track record in helping hundreds of banks globally to gain better control of their operations while complying with both local and global banking regulations was fundamental to the decision.
As well as providing PBSL with an automated system to manage branch and product expansion, Misys Equation 3.82 was able to improve system performance and security. The new version of the core banking system is the result of more than 140 separate projects and in excess of 150 man-years' development, and has been designed to ensure Misys customers continue to benefit from the very latest advances in financial software development.
Mark Yamin-Ali, regional sales manager at Misys, added, "This is a great example of how we have been able to use our knowledge of the market and our technology expertise to solve a business problem quickly. Misys Equation is a rapidly scalable solution, so we look forward to working with PBSL to support its goal of extending its reach across the country."