Bank of India goes live with MidasPlus Global Processing service
01 December 2004 | 1964 views | 0
Source: Misys Wholesale Banking Systems
Misys Wholesale Banking Systems (Misys) are pleased to announce that Bank of India (BOI), the first of 17 new Misys MidasPlus customers, has gone live and on schedule.
Centering its operations in Singapore, BOI will roll out Misys MidasPlus with Global Processing across 19 branches and seven time zones. The bank's implementation is a large and advanced deployment of the Misys MidasPlus with Global Processing solution.
Misys MidasPlus provides the bank with a vast array of functionality, all centrally managed. BOI will benefit from a single, real-time, consolidated view of its worldwide business. This includes transaction processing across treasury and capital markets, commercial lending, trade finance, payments and retail services with straight-through processing capabilities. With Misys MidasPlus, BOI aims to have uniform business practices and global data-mining capabilities across its international operations and business lines. The solution also gives BOI the ability to have a common core banking system across various geographies running on a centralised infrastructure and a single J2EE technology architecture.
Andrew White, Chief Executive Officer of Misys Wholesale Banking Systems, comments: "The successful and on-time implementation of the Bank of India project is a true reflection of the strong teamwork and partnership between Misys and BOI. Misys MidasPlus represents the most advanced banking application in the market today. It has been developed and built on the most reliable foundations in the industry and with our product and market knowledge and professional services expertise we were able to provide the competitive advantage that BOI was looking for."
BOI is actively working on the foreign branch rollout, scheduled for completion in the next year. Mr. D. Krishnamurthy, General Manager-Information Technology, Bank of India, comments, "We are very pleased with the progress of the MidasPlus with Global Processing implementation. Excellent teamwork with our own project teams and extensive support for the solution has meant a timely rollout and a successful live system. We now look forward to working with Misys in the future."
Andrew White adds, "Misys is the only vendor that provides a credible answer to banks’ Global Processing needs. Misys MidasPlus reinforces Misys’ position as the preferred and most trusted banking vendor in international markets. With BOI as the first implementation site now live, we look forward to working with more customers on Misys MidasPlus with Global processing over the coming year."