Misys (FTSE: MSY.L), the global application software and services company, today announces that Amsterdam Trade Bank has signed a licence for Misys BankFusion Equation, the very latest ground-breaking version of Misys' core banking system.
With this further investment in Misys, the bank will be able to bring new products and services rapidly to market and have the best solution available to meet its international expansion goals.
Amsterdam Trade Bank N.V. (ATB) is a fully-owned subsidiary of Alfa Bank, one of the largest Russian private financial-industrial conglomerates and a long-standing Equation customer. ATB provides both standard and tailor-made products in the field of Russia-related trade and project finance, corporate banking and international money transfers. Its main business is to provide lending to large corporations in Russia and other countries, fuelled by its internet savings scheme in the Netherlands and Germany.
The bank has committed to a further ten years, licensing the latest version of Misys Equation, which has been re-architected into an SOA environment using Misys' revolutionary BankFusionTM platform. This delivers Java (J2EE) re-usable components to the bank and gives it better security, risk management capabilities and the flexibility to scale the business rapidly.
Misys BankFusion Equation builds on both Misys' and ATB's investment in the business and functional strength of Equation. Combined with Misys' unique technology, it will allow ATB to launch innovative new products and services to market rapidly that would take weeks and months of development with existing core banking systems.
ATB will also benefit from BankFusion Equation's unique ability to tailor and modify business processes to their exact requirements, no longer constrained by the underlying technology. In addition, an in-built tool automatically generates the system's Java code significantly reducing manual input and errors whilst accelerating solution modifications.
"BankFusion Equation is a truly world-class solution that will bring us tangible benefits in the way we run our business and bring new products to market," states Henny te Beest, CFO and Managing Directotor, Amsterdam Trade Bank. "Misys has developed a solution that keeps us ahead of the competition in the service we provide our customers and will be able to reduce our operating costs, lower operational risk and tighten security at the same time."
Guy Warren, EVP and General Manager, Misys Banking, comments, "Amsterdam Trade Bank has taken advantage of the innovative capabilities that BankFusion Equation brings the industry. Being able to accommodate growing business volumes and expand product lines to meet constantly changing market requirements is vital for banks such as ATB to maintain their competitive edge. The unparalleled flexibility that BankFusion Equation brings the bank will ensure that this objective is met while minimising both cost and the potential disruption of new systems development