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Union Bank live with Misys treasury and capital markets system

23 June 2009  |  1354 views  |  0 Source: Misys

Misys (FTSE: MSY.L), the global application software and services company, today announced that Union Bank, N.A., a California-based commercial bank, has gone live with Misys Opics Plus v3.0, the latest release of Misys' powerful Treasury and Capital Markets operations solution.

The new solution will support Union Bank's Foreign Exchange and Money Markets treasury operations, delivering improved efficiency and greater transparency on a newly re-engineered .NET service-oriented architecture.

Union Bank originally selected the Misys Opics solution in 1997. Having continually worked closely with Misys to expand their usage of the system and implement the latest and most innovative treasury developments, Union Bank has always been at the forefront of using the latest treasury technology from the award-winning solutions provider. Misys Opics Plus v3.0 is designed to support financial institutions with technology powerful enough to handle the evolving requirements of the global marketplace.

Union Bank first opened its doors more than 145 years ago and has been dedicated to offering its customers comprehensive financial solutions ever since. Currently the 16th largest commercial bank holding company in the US, it has always strived to deliver the best customer service for the most up-to-date range of products and relies on Misys to support it in delivering on these goals with respect to its Foreign Exchange business.

Bradley Shairson, SVP and Head of FX and Derivatives at Union Bank comments: "We have been working with Misys for over a decade now and have been impressed by not only the enhancements that result from the new Opics Plus solution, but with the Misys team that provided strong, dedicated support during the upgrade process. We are very pleased that we made the decision to upgrade to Opics Plus v3.0. We are confident that this newest version will help us to deliver even more efficient services to customers."

Misys Opics Plus is a comprehensive, highly scalable treasury and capital markets solution for front-to-back office, cross-asset processing of a wide range of financial instruments. Misys Opics Plus combines unparalleled integration across financial instruments and consolidation of processes across tss the different departments of a financial institution. As a result, it is the ideal solution for financial institutions looking to reduce costs through adopting a centralised approach to systems and operations. The platform handles vanilla and complex derivatives, fixed income, equity and treasury trades and is useful for a wide range of functions including money markets and foreign currency business.

"Opics Plus v3.0 is the culmination of more than three years of investment by Misys to convert a legacy client server application to a pure .NET Service Oriented Architecture," comments Ed Ho, EVP and General Manager, Misys Treasury & Capital Markets. "The Opics Plus team has worked very closely with Microsoft during this period. It has won Microsoft's Windows in Financial Services Innovation Award and the results of the volume-based benchmarking tests on the solution are outstanding."

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