Misys, a global leader in banking application software and services, today announces that Bank of The West has gone live with Misys' front-to-back solution for trade finance, Misys Trade Portal and TI Plus.
The integrated end-to-end solution gives Bank of the West unrivalled functionality across the whole of its trade finance business supporting the bank's expansion plans and strengthening its day to day processing operations.
A leading regional commercial bank, with over $63bn in assets, Bank of the West is the second largest bank headquartered in California. Bank of the West has branches in 19 states and employs approximately 11,000 staff, including in its trade processing center in Los Angeles. The bank provides a range of deposit, credit, insurance and investment products and services across commercial banking and regional banking, including National Finance.
Bank of the West evaluated solutions from several companies and chose Misys Trade Portal for its advanced capabilities and proven record in trade finance. In the highly competitive banking environment, the enhanced functionality offered by Misys Trade Portal will give Bank of the West unrivalled levels of efficiency and client service, giving clarity and improved options for follow up and value-add to clients.
Dennis Bartz, SVP, Trade Finance at Bank of the West, commented, " We have benefited from Misys Trade Innovation since 2000, and the upgrade to TI Plus coupled with the addition of Misys Trade Portal enables us to improve the results we deliver to our customers still further. By continually enhancing our trade finance operations we can continue to deliver results to our clients as a first-class provider."
Susan Feinberg, Senior Research Director, Wholesale Banking, TowerGroup, states, "As banks look to develop new trade solutions, it is important that they consider the needs of both their corporate clients conducting open account cross-border trade and those clients looking to automate and enhance the financial supply chain for domestic B2B commercial activity. As we approach the next decade, TowerGroup expects trade and supply chain finance solutions to be at the foreforefront of the offerings that banks provide to their corporate clients."
"Bank of the West's decision to implement our Misys Trade Portal solution is an excellent validation of both the strength of our working relationship and the quality of our solutions", added Olivier Berthier, Solutions Director, Transaction Banking, Misys. "We are now the bank's single provider of its front and back office trade finance systems, which translates into improved operating efficiencies, better functionality and improved client-facing services for the bank."