European-Russian Bank implements Misys Midas

Source: Misys

Misys (FTSE: MSY.L), the global application software and services company, today announces that European-Russian Bank, a.s. (Evropsko-ruská banka, a.s.), a Czech-based subsidiary of the First Czech-Russian Bank, Llc, Moscow, has successfully implemented Misys Midas.

The bank group will now be able to enhance the service it provides its customers not only in Russia, but also now in the Czech Republic.

The Czech Republic is becoming an attractive market for Russian banks as the trade between the two countries increases. European-Russian Bank is offering corporate and retail services to customers in the Czech Republic, focusing in the first line on export-import finance. It has selected Misys Midas to underpin this increase in business.

With the system live so quickly, it will immediately be able to help the bank meet both local and global customer needs while increasing operational efficiency. Misys was chosen for its track record and strong presence in the region, its understanding of local regulations and its reputation for reliability and speed of delivery. The company has organised a dedicated team of Banking and capital markets specialists that focus on the needs of financial institutions in this region.

The team of skilled professionals from Misys assisted the bank's staff in this rapid implementation and will continue to provide outstanding support going forward. The system installed allows the European-Russian Bank to offer a comprehensive range of banking services (also in Russian language), including lending, treasury, retail and cash management, supported by full credit risk, compliance and reporting capabilities. The bank group can support now its customers both in Russia as well as internationally.

"We have had tremendous success in the last few years in helping our clients in Eastern Europe, Russia and the rest of the CIS satisfy their customer requirements," states Dermot Briody, Regional Director Europe, Misys. "We are delighted that we are able to meet the demands of the European-Russian Bank with our market-leading solution, underpinning its business for the future."

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