Norresundby Bank deploys Misys trade finance software

Source: Misys Wholesale Banking Systems

Misys Wholesale Banking Systems (Misys) is pleased to announce that Norresundby Bank, the Danish bank, has chosen Misys eServices Platform Trade Edition and Misys Trade Innovation as a packaged front-to-back trade services solution.

It has selected the Misys solution to help reduce operational risk, automate processes between the back office and front office and improve straight-through processing (STP) rates.

After a lengthy selection process, which saw the evaluation of a number of solutions, Norresundby Bank and Bankdata, the data centre providing and managing the bank's IT services, has chosen the integrated solution from Misys. The solution meets the banks and its customers need for a web-based, fully-automated trade services solution.

The new integrated solution provides a web-based front-to-back solution that covers Letters of Credit, Collections and document preparation. With the integration of trade business from Misys eServices Platform Trade Edition to Misys Trade Innovation, Norresundby Bank is able to realise fully automated front-to-back processing and true STP, allowing it to increase business volume and customer service levels as well as reduce operational risk. Web-based automation also means that it is able to achieve this without increasing staff numbers, making it more cost effective.

Claus Kongsgaard, General Manager and Head of International Division at Norresundby Bank, explains: "In response to the increasing demands of our corporate clients for Internet-based trade finance services, we decided to review possible solutions suitable for our requirements and existing IT infrastructure."

"The Misys solution offered us comprehensive business coverage, flexibility and intuitive workflow management capabilities, all of which would help us to realise improved efficiency and processing speed. With the solution currently being implemented, we are already pleased to see that it is satisfying our corporate clients' needs at the front-end in terms of easy-to-use, control, flexibility and reporting."

The solution will be implemented at Bankdata, the bank's data centre and service bureau, with implementation due for completion in the second quarter of 2005.

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