Misys (FTSE: MSY.L), the global application software and services company, today announces that Mybank in Pakistan has gone live with Misys Equation.
The solution will help the bank to increase customer revenues, reduce risk and drive business efficiency through processing, automation and centralisation.
With the bank's 2008 strategy focused on sustaining existing levels of business growth, it was imperative for Mybank to implement a solution that provided a robust, tailored service that could match the changing demands of the company. Misys Equation provides the financial institution with exactly that; enabling Mybank to integrate all key IT services with its core banking system, reduce processing times and provide an effective monitoring service for the future.
The roll out across the branch network will ensure that the bank meets and exceeds the demands of Basel II, a regulatory framework that is intended to promote a more forward looking approach to capital supervision.
"As part of our evaluation process, we compared a number of banking applications and service providers in order to assess what would best meet the needs of our business," comments Muhammad Bilal Sheikh, President and Chief Executive Officer, Mybank. "When taking into account the strength and depth of experience that Misys has and its strong solutions, we were confident that Misys Equation will give us a centralised core banking system that meets the future ambitions of our business."
Mark Yamin-Ali, Sales Manager, Misys Banking, added, "At a time when some of our competitors are experiencing significant challenges and delays with their implementations in Pakistan, Misys continues to deliver quickly and successfully, bringing a faster return on investment and lower total cost of ownership for our customers. Moreover, the successful implementation of Misys Equation for Mybank serves to highlight our ongoing project- and support-commitment to the Pakistani market and marks another important milestone in the success of this versatile core banking system."