Misys (FTSE: MSY.L), the global application software and services company, today announces that Metropolitan Bank & Trust Company (Metrobank) has licensed Misys Opics Plus 2.1 as it grows its presence in China.
Metrobank is a premier universal bank and among the foremost financial institutions in the Philippines. Metrobank is among the first to extend its network overseas. Most recently, it strengthened its expansion efforts in China, which remains one of the fastest growing economies in the world. Metrobank has been present in China since the 1990s with branches and representative offices in Shanghai and Beijing. In early 2010 it inaugurated Metropolitan Bank (China) Limited in Nanjing, becoming the first foreign bank to establish its headquarters in the city. The new bank serves as the base for Metrobank's operations in China.
The bank requires a comprehensive system to provide full treasury functions to support the local business requirements for the Chinese market. The new treasury system will enable the bank to process high volumes of treasury instruments and provide clients with sophisticated products. The back office will utilise the system's event-based workflow manager to confirm deal and payment information with counterparties and send automatically generated confirmations. The integrated front-to-back system will provide for easier reconciliation and regulatory reporting.
Derek Cheung, President of Metrobank China Limited, stated: "To ensure excellent service to our customers in China, we rely on a recognised and trusted provider. Misys has long been our trusted partner in our operations in Manila, consistently demonstrating a deep knowledge and understanding of our needs. It has been providing the best solutions for the bank over the past 12 years. One of its solutions, Opics Plus, has brought excellent visibility, operational efficiency and risk management across our treasury operations in Manila. We will therefore be deploying the system in our Chinese operations."
Lee Boon Huat, Asia Pacific Managing Director of Misys, adds: "We are delighted to be able to work alongside such a long-standing customer as Metrobank and help the businthe business to expand its operations into China, where we are seeing great traction for our products and services. With our strong track record in treasury solutions, Misys has continually been able to demonstrate that it is the leading provider to help modernise the treasury operations of the bank. This is an exciting agreement for Misys and we look forward to helping Metrobank take advantage of our leading technology in its Chinese operations."