Banco Itaú rolls out Misys Equation in Japan
12 December 2007 | 1866 views | 0
Misys (FTSE: MSY.L), the global application software and services company, today announces that Banco Itaú has migrated Banespa's customers with Misys Equation in its Japanese operations.
Banco Itaú also use Misys' core banking solution, Midas, for its American and offshore operations
Following the acquisition of the customers of Banespa (Banco do Estado de São Paulo) Tokyo Branch at the end of 2006, Banco Itaú immediately needed to manage the increase in the volume of deposits and remittances the additional operations brought in Japan. All Banespa's customer records and information from the Tokyo operations were transferred across to Misys Equation.
Banco Itaú's internal technical team was supported by the professional services staff from Misys and programs were developed on top of Misys Equation's APIs to apply the customer data online. The solution from Misys supports double byte names and addresses, so it was possible to transfer Japanese characters as well.
Mr. Takata, Kazutoshi, General Manager Japan, Banco Itaú, comments, "As with Itaú's business, Banespa has also built a strong base of customers in Japan over the last 30 years, comprising both Brazilians as well as other Latin American nationals living in the country. Our Japanese-Brazilian operations have been supported by Misys Equation, from the tellers in the front office, through the operations centre to the back office processing. The rapid implementation of the additional customer accounts in Japan will enable us to be efficient and streamline our whole operations so that we can serve our customers better both in Brazil and in Japan."
Dermot Briody, Head of Sales Asia, Misys Banking, adds, "Misys Equation is a perfect solution for this type of sudden increase in customer transactions and volumes. We have more than 30 years of experience in helping banks like Banco Itaú to improve the services they provide to their customers and in accelerating the responsiveness to the needs of the consumer."