Misys (FTSE: MSY:L), the global application software and services company, today announced that Shunde Rural Commercial Bank (Shunde RCB) has gone live with Misys Opics Plus and Misys Opics Risk Plus.
The integrated solution will allow the bank to manage and grow its treasury operations more efficiently, particularly its large-scale bond business, and to seek new business opportunities.
Formerly named Rural Credit Cooperatives Union of Shunde and on 23 December 2009 renamed Shunde Rural Commercial Bank, it is one of the oldest financial institutions in Shunde. It is the first rural credit cooperative union that transferred to a joint-stock rural commercial bank in FoShan city of Guangdong province in China. Treasury is one of the bank's key business focuses. The brand philosophy of Shunde RCB is "Serving Diligently, Achieving Goals". By taking the leading listed banks as benchmarks, Shunde RCB is aiming to become a well governed and competitive modern commercial bank with sufficient capital, strict internal control and sound financial health.
Shunde RCB selected the powerful treasury management solution, Misys Opics Plus, to improve exposure management by pooling risk exposure centrally in order to manage the process better. Additionally, the solution will help the commercial bank to improve risk management through enhanced reporting, controls and risk management tools across the business from front to back office. This will enable Shunde RCB to meet its regulatory requirements on new accounting policies and to provide a more robust risk management system.
Commenting on the adoption of Misys' solution, Mr Zhang Yi Feng, General Manager of the Treasury Department of Shunde Rural Commercial Bank, commented, "Misys was chosen following a competitive pitch because of its proven track record. We have confidence that its solutions will deliver against our requirements and accommodate our growth plans. Misys Opics Plus and Misys Opics Risk will enable us to make great improvements to our business and offer real benefits to us and our clients as we continue to expand."
Lee Boon Huat, Managing Director Asia Pacific, Misys added, "We are thrilled to be working with Shunde Rural Commercial Bank as it enters the latest phase of its development. This represents the first implementation of Misys Opics Plus in the Chinese credit union sector. Misys now has more than 30 customers in China, leveraging our industry-leading solutions, local knowledge and expertise that are required to implement complex treasury products to manage volumes across multiple asset classes."